This can happen, even after you’ve fulfilled your legal obligation to report and remit abandoned unclaimed property to the state.
Don’t worry! Even if you’ve already sent abandoned or unclaimed property to the state, the owner can still reclaim it. Each state has a holder reimbursement procedure in place to help you navigate this situation. Here is what you can do:
Refer them to the state:
- Explain that their property has been reported and transferred to the state’s unclaimed property division.
- Provide them with the state’s contact information or a link to their unclaimed property website. You can find this information by searching “[state name] unclaimed property” online.
- Be sure to retain documentation related to the property and your remittance to the state, as it will be necessary for the reimbursement process.
UPCR Can Help:
- Every state has a holder reimbursement procedure. UPCR can assist you navigate this situation.
- The National Association of Unclaimed Property Administrators (NAUPA) is also a great resource for for all-things unclaimed property!
At UPCR, we understand the complexities of unclaimed property compliance. Our mission is to empower organizations by providing comprehensive solutions that streamline their obligations. We leverage our over 25 years of experience and in-depth industry knowledge to ensure seamless property return to rightful owners, while delivering exceptional service and value to our clients.