Unclaimed Property Act
The Disposition of Unclaimed Property Act protects the rights of owners of abandoned
property and relieves those holding the property of the continuing responsibility
to account for the property.
Under the Act, when someone holds property (holder) that belongs to someone else
(owner), but has lost contact with the owner for a specified period (holding period),
that holder must turn over (remit) the property to the State. The State serves as
the custodian for any property remitted under the Act allowing the owners or their
heirs an opportunity to claim their property in the future.
Search for Unclaimed Property
Find out if you have any unclaimed property
Unclaimed Property Program Home Page
For contact information, frequently asked questions and other information about
turning unclaimed property over to the State.
What Types of Property are Remitted to the State?
Anyone holding abandoned property must remit it to the State when they have held
the property for longer than the holding period.
Companies must report abandoned property to the State of the last known address
of the owner. When the owner address information is unknown, incomplete or
foreign, the holder company reports unclaimed property to their state of incorporation.
The Act provides for the remittance of property and funds in the possession of the
holder which are owned by another from:
- banking and financial organizations,
- insurance companies,
- dissolution of a business association or person,
- a fiduciary, and
- a court, public corporation, public authority, public officer, or political subdivision.
Other types of unclaimed property remitted to the State as custodian are:
When is Property Considered Abandoned and Remitted to the State?
- property issued or owed in the ordinary course of the holder's business,
- sums owing on traveler's checks and money orders, unclaimed court ordered refunds
from business associations, gift certificates or credit memos,
- unpaid wages
- employee benefit trust distributions and income,
- safe deposit boxes,
- bequeathed property, and
- intangible personal property (stocks, bonds, etc.) held or owing in this State.
Unclaimed property is reported and remitted annually after the holding period has
expired. For insurance companies, the report year is the calendar year beginning
January 1 and ending December 31--the report is due the following May 1. For all
others, the report year is the fiscal year beginning July 1 and ending June 30--the
report is due the following November 1.
The holding period is the time that must elapse before the property is considered
abandoned and reportable to the State. The duration depends on the type of property held:
1 year from payday
Company Liquidation Proceeds
1 year from sell date
Safe Deposit Boxes
2 years from drilling date
7 years from issue date
15 years from issue date
All Other Property
5 years from last contact
Georgia Will Return the Property at NO CHARGE TO THE OWNER!
Individuals or companies that locate unclaimed property for a fee are known as locators.
They often approach Georgia citizens.
If a locator offers to help the prospective owner of unclaimed property find property
that is rightfully theirs, THEY SHOULD CALL THE DEPARTMENT OF REVENUE'S UNCLAIMED
PROPERTY SECTION FIRST! Signing an agreement with a locator can be costly. Our section
will assist the prospective owner in locating and reclaiming their property FOR FREE!
How to Keep Property
From Becoming Unclaimed
- Open all correspondence from businesses that handle your money. They are required
by law to notify you before sending your money to the State;
- Keep an accurate record of all financial matters;
- Notify all banks and companies of a new address when moving;
- At least once a year, make a deposit or withdrawal on all bank accounts;
- Cash all checks received promptly;
- Contact the company immediately if stock dividends are no longer received; and
- Inform a family member, attorney, or trusted friend of the whereabouts of all financial records.
For additional questions about unclaimed property, please call or write as follows:
Telephone Hours: Monday - Friday, 8:00 a.m. - 4:45 p.m. (excluding state holidays)
Telephone Number: (855) 329-9863
Fax: : (404) 724-7013
Georgia Department of Revenue
Unclaimed Property Program
4125 Welcome All Road
Atlanta, Georgia 30349
Related Links to Other Websites
To find unclaimed property in other states contact the
National Association of Unclaimed Property Administrators
Back to Unclaimed Property index
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