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Laws and Requirements

Laws and Requirements

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NORTH CAROLINA GENERAL STATUTE 116B

North Carolina law requires unclaimed property holders to report and remit unclaimed property on an annual basis after a dormancy period is met. Unclaimed property can be bank accounts, wages, refunds, utility deposits, insurance policy proceeds, stocks, bonds, or contents of safe deposit boxes that have been abandoned. Property is considered abandoned if there have been no documented transactions or contact with the owners for a period of time known as a dormancy period.

IMPORTANT 2020 LEGISLATIVE CHANGES
 
The 2020 Legislative Session led to several changes in North Carolina’s Unclaimed Property laws. The changes include several important clarifications and new requirements for holders. These changes were proposed and adopted under Senate Bill 719.

 

Holder Information and Reporting

  • Reporting Library
  • 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
  • Laws and Requirements
  • Reimbursement and Refund Request
  • Holder Extension Request
  • Voluntary Disclosure Program
  • Holder Reporting eUpdates

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