District of Columbia Escheat & Unclaimed Property Laws

The deadline for annual reporting and remittance in DC is October 31 for all holders, except life insurance companies, who must report by April 30.  Holders of unclaimed property must report electronically.  All holders have an obligation to report abandoned or unclaimed property to the state in order to maintain compliance with the District of Columbia unclaimed property laws and regulations.

District of Columbia Due Diligence Requirements

DC requires due diligence notifications to be sent for any property that has a value of $50 or more. Due diligence letters must be sent each reporting cycle no more than 180 days and no less than 60 days prior to filing a report. In each due diligence notice, the holder must identify and provide:

• Contain a heading that reads substantially as follows: “Notice. The State of District of Columbia requires us to notify you that your property may be transferred to the custody of the District of Columbia’s Unclaimed Property Administrator if you do not contact us before (insert date that is at least 30 days after the date of notice).”
• Identify the type, nature, and, except for property that does not have a fixed value, value of the property that is the subject of the notice.
• State that the property will be turned over to the custody of the department as unclaimed property if no response to this letter is received.
• State that any property that is not legal tender of the United States may be sold or liquidated by the department.
• State that after the property is turned over to the department, an apparent owner seeking return of the property may file a claim with the department.
• State that the property is currently with a holder and provide instructions that the apparent owner must follow to prevent the holder from reporting and paying for the property or from delivering the property to the Administrator.

District of Columbia Dormancy Periods

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

Dormancy periods in DC for common property types include:

• Wages, Payroll or Salary: One year
• Unredeemed Gift Certificates: Five years
• Traveler’s Checks: Fifteen years

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