This page addresses key areas of interest regarding Washington unclaimed property and escheatment laws and regulations.
The deadline for annual reporting and remittance in Washington is October 31 for all holders, except life insurance and other insurance companies, who must report by April 30. Holders have an obligation to report abandoned or unclaimed
property to the state in order to maintain compliance with Washington’s unclaimed property laws and regulations.
Washington State requires holders to perform due diligence mailings for items valued at $75 or greater each reporting season. Due diligence letters must be sent each reporting cycle by first class mail and email if the owner has agreed to electronic communications, no more than 180 days and no less than 60 days prior to filing the report.
Most property types in Washington have a dormancy period of three years. 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. Other dormancy periods in Washington for common property types include:
Reporting unclaimed property in Washington, 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.
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