Escheating Funds

/Escheating Funds
Escheating Funds 2018-01-03T22:29:02+00:00

Overview of the California Escheat Reporting Process

The California State Controller’s Office (SCO) requires the reporting of and the remittance of unclaimed funds to the SCO on an annual basis. The process also known as escheating funds, has two reporting deadlines, October 31st and June 15th of each year. There are five basic parts to the process.

They are:

  1. File Review for Unclaimed Property in November through December
  2. Perform Holder Due Diligence in January through March
  3. Prepare and submit the Holder Notice Report before November 1st
  4. Respond to Property Owner’s SCO Notices prior to May 31st
  5. Submit Holder Remit Report and Remittance by June 15th

Upon successful reconciliation by the SCO you will receive a confirmation letter.

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