Connecticut Escheat & Unclaimed Property Laws

Negative reports are required if the holder is incorporated in Connecticut, is a Connecticut licensed business or is physically located in Connecticut. 

All holders have an obligation to report abandoned or unclaimed property to the state in order to maintain compliance with Connecticut’s unclaimed property laws and regulations. 

Connecticut Due Diligence Requirements

Connecticut requires holders to send due diligence notifications for all property types, regardless of the value of the property. Holders must send due diligence letters via first class mail each reporting cycle to the apparent owner at the last known address. The state recommends giving owners at least 45 days to respond to the letter before declaring the property abandoned.

This notice should inform the owner that the holder is in possession of unclaimed property that will be turned over to the state unless the owner claims it from the holder before the report is filed.

Connecticut Dormancy Periods

Dormancy periods in Connecticut 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 Connecticut for other common property types include:

• Wages, Payroll or Salary: One year
• Checking Accounts: Three years
• Money Orders (Non-Bank): Seven years

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