Unclaimed Property News

Unclaimed Property News (Escheat News)

August 2011: Illinois has reduced the dormancy for wages and payroll from five years to one year. The change takes effect for
2012 reporting.

June 2011: Starting in 2013, unclaimed property reports in Texas will be due July 1, the filing cycle will be March 2 - March 1,
and due diligence must be completed by May 1.

June 2011: North Carolina has reduced dormancy for wages and payroll to one year. Holders may postpone filing until they have
a minimum of $250 of unclaimed property to report.

2011: South Carolina requires reports be filed electronically.

October 8, 2010: Michigan changes the report due date to July 1 starting 2011. Dormancy periods are reduced to three years
for most property types.

2010: Washington State no longer requires a separate form for negative reports. A checkbox has been added to the summary
report.

November 23, 2009: Arizona reduced its dormancy periods. See the Table.

August 26, 2009: California Appeals Court affirms in part and reverses in part prior ruling regarding interest on escheated
property.

August 1, 2009: Indiana now requires all reports be submitted online.