Introduction to Reporting Unclaimed Property in California

Description

The Unclaimed Property Division’s Outreach and Compliance Unit will provide an overview of California’s Unclaimed Property Law and mandated reporting requirements, review common terms, and discuss how to avoid common reporting and remitting errors.

Unclaimed Property Division’s Outreach and Compliance Unit (OCU) team educates business owners about the unclaimed property laws and reporting requirements for holders of unclaimed property. 
 

Holder Toolkit

The Controller’s Office has created sample letters to assist the property owner outreach process. However, holders should refer to California Code of Civil Procedure, Sections 1513.5, 1514, 1516(d), and 1520(b) for the complete requirements for notifying owners of unclaimed property.

• Sample Due Diligence Letter - Pre-written letter holders can use to perform their due diligence
• Sample Due Diligence Letter for Safe Deposit Box Contents – Pre-written letter holders can use to perform due diligence for unclaimed safe deposit boxes or safekeeping repositories