Abandonment Period
The time between the last transaction date and when it is due as unclaimed property.
The amount of time since last contact with the owner. Dormancy helps establish the abandonment period. For example:

The Beta Cleaning Company (holder) has a check for a customer (the property owner).

  • The $250 dollar check is dated 12/31/2015.
  • The last contact date with the customer was 11/30/2015.
  • Last date of contact (11/30/2015) + 3 years = 11/30/18.
  • The latter date (11/30/2018) falls between the unclaimed property reporting period of 3/2/2018 to 3/1/2019.
  • The $250.00 check must be included in the 2019 report.
Due Diligence
The effort on the part of the Holder to establish contact with the property owner before reporting to the Comptroller’s office.
Negative Report
Report stating there’s no property to report.
Property Owner
An employee, client or vendor who is owed funds or financial assets.

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