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
  • Refunds
  • Wages
  • Contents of safe deposit boxes
  • Insurance policy proceeds
  • Utility deposits
  • Bonds
  • Stocks
  • Others

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

 

Step 4: Submit Your Report and Remit Funds Due