Topics related to unclaimed property dormancy

Importance of Dormancy in Unclaimed Property

One of the things that makes Unclaimed Property Reporting so complex is the aspect of Dormancy. According to the National Association of Unclaimed Property Administrators’ (NAUPA) website, Dormancy is “the period of time during which the owner of the property does not take action on his property”. This sounds simple enough except for the fact […]

Arizona Adjusts Dormancy for Proceeds Due Beneficiaries

After a review of their statutes, Arizona has announced a reduction in the dormancy period for property code IN03, Proceeds Due Beneficiaries. This type of property should be reported after 1 year instead of 3 years. This change should take effect immediately. Holders will not be penalized for any due diligence letters that were missed […]

Danielle Herring

Product Manager, UPExchange

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