Holder Information and Reporting
All companies doing business in North Carolina are required to review their financial accounts annually and to determine if they are holding reportable unclaimed property. If they are, companies are required to submit a Holder Report with the Unclaimed Property Division, and to remit the unclaimed property to the North Carolina Department of State Treasurer. Unclaimed property “holders” include corporations, partnerships, sole proprietorships, retailers, manufacturers, financial institutions, governmental agencies, universities, hospitals, utilities, insurance companies, and others.
Unclaimed Property consists of tangible and intangible property that has been abandoned, such as:
- Bank accounts
- Contents of safe deposit boxes
- Insurance policy proceeds
- Utility deposits
For life insurance holders, the reporting due date is May 1, for all property that reached its dormancy holding period as of the prior December 31 and for which the owners could not be located.
For all other holders, the reporting due date is November 1, for all property that reached its dormancy holding period as of the prior June 30 and for which the owners could not be located.
4 Step Reporting Process
Step 1: Identify Properties
Step 2: Attempt to Locate the Owners
Step 3: Prepare Your Report