Report Unclaimed Property
Businesses must review their records yearly in case they hold tangible or intangible property that has remained unclaimed for the dormancy period.
Holders of Unclaimed Property include:
- Business associations,
- Banking and financial organizations,
- Life insurance corporations, and
- Other businesses and entities holding property belonging to another person.
Businesses are required to review their records each year to determine if they hold any property, whether tangible or intangible, that has remained unclaimed for the required dormancy period. Once property has remained unclaimed for the required dormancy period, it becomes reportable.
Important Reporting Dates
| Business Type | Notice Report Due | SCO Deadline to Send Owner Notices | Remit Report Due Date |
|---|---|---|---|
| Life Insurance | Before May 1 | Mid-October | December 1-15 |
| All Other Businesses | Before November 1 | Mid-April | June 1-15 |
Extension requests due no later than 30 days prior to the report due date.