Florida Unclaimed Property Reporting & Escheat Law Guide

This page addresses key areas of interest regarding Florida unclaimed property and escheatment laws and regulations.

Key Florida Unclaimed Property Reporting Deadlines

The deadline for annual reporting and remittance in Florida is April 30 for all holders of unclaimed property. Electronic reporting is required regardless of the number of owners.

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

Florida Due Diligence Requirements

Florida 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 by first class mail no more than 120 days and no less than 60 days prior to filing a report. In each due diligence notice, the holder must identify and provide:

  • The account that is inactive,
  • The property value,
  • A proper description of the property, and
  • Contact information of the Holder

Florida Dormancy Periods

Dormancy periods in Florida vary by property type. Generally, most property types have a five-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 Hawaii for common property types include:

  • Wages, Payroll or Salary: One year
  • Safe Deposit Boxes: Three years
  • Traveler’s Checks: 15 years

Still confused or overwhelmed? Try the Sovos UP Compliance Hub

Reporting unclaimed property in Florida, and other jurisdictions, can be a stressful process that consumes valuable internal resources. However, when properly managed, the annual reporting and escheatment process does not need to be a burdensome experience.  

The Sovos UP Compliance Hub is a subscription-based service that includes access to multiple educational and operational resources. Sovos compliance experts continuously monitor and update these resources. Compliance Hub subscriptions can be customized to suit your company’s unique business needs and compliance objectives. Connect with the experts at Sovos today to learn more.

Key Resources​​

Florida Department of Financial Services
Division of Unclaimed Property
P.O. Box 6350 Tallahassee, FL 32314-6350
Email: EReporting@MyFloridaCFO.com
Phone: 850.413.5522