Unclaimed
Property
CALIFORNIA
Communicating with Property Owners
Ask an Analyst Do you have a question about reporting unclaimed property? We want to hear from you! Each quarter, the Outreach and Compliance Unit will select a holder question to address in our newsletter. Submit questions to UPDHolderOutreach@sco.ca.gov . Q: What should we do if we discover additional dormant property after we filed our Holder Notice Report? A: Report additional dormant properties on a separate Supplemental Notice Report. First, perform holder due diligence, if required. Next, complete a Universal during this time. Watch the Pre-Escheat Notice Tutorial for more information about the process. In the period between filing a Holder Notice Report and filing a Holder Remit Report, a holder is still in possession of the property; therefore, the UPD staff are only able to provide limited assistance to these potential property owners. To best serve owners, consider the following: • Have well-trained staff promptly answer owner inquiries. • If using a recorded message or automated email, Winter is a busy season for the State Controller’s Unclaimed Property Division (UPD). The team mails thousands of pre-escheat notices encouraging potential property owners to claim property from holders before it is transferred to the state. Both holders and UPD staff experience an increase in contacts from owners
Holder Face Sheet (UFS-1) and check “Supplemental Notice Report” on the form. Finally, mail the UFS- 1 with the property owner details list to the State Controller’s Office. After the report is loaded and reconciled, UPD staff will mail a Holder Remit Reminder Letter (14F) specific to the Supplemental Notice Report. Follow instructions on the 14F to file the corresponding Holder Remit Report. Read more about filing a Supplemental Notice Report on page 23 of California’s Holder Handbook. provide clear instructions and allow people to leave a message, then regularly check for messages. • Request proof of owner association to the property and validate the documents provided. • If a rightful owner contacts the holder, the dormancy period resets. However, owners of dormant safe deposit boxes must make other arrangements for the escheat period to stop (California Code of Civil Procedure (CCP) section 1514 (c)(5)). If you believe a person does not meet the standards to demonstrate ownership, then send the property to the State Controller. As always, once UPD receives the property, a person may file a claim form along with proof of ownership to retrieve the property.
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