Colorado Escheat & Unclaimed Property Laws

Holders of unclaimed property in Colorado must meet specific annual reporting deadlines as well as remittance deadlines. For most- insurance companies, the reporting deadline is October 31 for the period ending June 30. For insurance companies, the reporting deadline is April 30 for the period ending December 31. Holders of unclaimed property must report electronically.

Colorado Due Diligence Requirements

Businesses are required to send written notice to the last known address of an owner for any property that is valued at $25 or more. This notification should inform the property owner that the holder is in possession of the property, indicate how the property owner may claim the property, and the date the property will be turned over to
the administrator. Due diligence notices must be sent to the property owner not more than 180 days, and not less than 60 days prior to filing escheat reports.

Colorado Dormancy Periods

Dormancy periods in Colorado vary by property type. Generally, most property types have a three-year dormancy period. Accounts are considered dormant if the owner of a property has not indicated any interest in the property or if no contact has been made for the allotted dormancy period for that property. Dormancy periods in Colorado for other common property types include:

• Wages, Payroll or Salary: One year
• Savings Accounts: Five years
• Money Orders(Non-Bank): 7 years

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