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| Unclaimed Property Holder Information |
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Oregon Coast, photo Vickie Nokleby
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Q. What is due diligence, and when should it be done?
A. Under ORS 098.352 and OAR 141-045-0061, holders must make a diligent effort to locate owners of property with value greater than $100 before the property is remitted to the Department. This should be done as soon as the account is dormant or unclaimed, but not less than 60 days prior to the filing and remittance.
Q. What if the owner's address is unknown?
A. If the owner’s address is unknown, the report must go to the state where the holder is incorporated or domiciled.
Q. When is an account reportable?
A. The following information provides a general guideline for dormancy periods for certain types of property. For more information call the Reports Coordinator at 503-986-5290.
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Property Type
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Years
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| Utility Deposits |
1 |
| Proceeds of dissolved corporations (including employee benefits) |
1 |
| Tangible property in safekeeping depositories |
2 |
| Intangible property held by courts or governmental or public authorities |
2 |
| Tangible property held by courts or governmental or public authorities not covered-under another statute |
2 |
| Unclaimed Payroll check |
3 |
| Unclaimed checks issued from a general disbursement account |
3 |
| Credit memos and/or accounts receivable credit balances and refunds |
3 |
| Other intangible property not specifically covered by another existing statute |
3 |
| Savings and checking accounts (all types) |
3 |
| Stocks and proceeds |
3 |
| Money orders |
7 |
| Traveler´s checks |
15 |
| Life insurance policies--see ORS 98.314 |
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Q. Are all amounts reportable?
A. Yes, all amounts are reportable. However, holders may report property valued at less than $50 per owner in aggregate. Accounts greater than $10 appear on the Department's Internet website. If detailed information is available for aggregate accounts, please attach it to the report to better serve claimants with small values.
Q. How long should I keep my records?
A. Holders are required to maintain records and documentation related to unclaimed property reports and efforts (due diligence) for three years after reporting, and must keep their records of unclaimed property confidential beginning 12 months before the reporting period and for 24 months after reporting.
Q. How do I file a report?
A. You can file two ways: electronically or by filling out forms 1A and 2A. If you are reporting safety deposit box contents, use the 1A and 3A forms. Forms may be downloaded from this website.
Electronic reports must be in the NAUPA (National Association of Unclaimed Property Administrators) format, which was revised in 2003. Please verify that your version is current. The revised format is available for HRS-PRO users at www.wagers.net. Formats for text and Excel files are also available at this website. Electronic reports may be submitted on a CD, 3.5” diskette, or emailed to holder@dsl.state.or.us.
Legibility: Reports will be evaluated for legibility and data entry purposes. If they are too difficult to read, they will be returned for revision. Previous issues have included poor handwriting, small (less than 10 pt.) fonts, and condensed spacing of lines and characters. Please review your report from a date entry standpoint before mailing.
Q. Where do I send the report and remittance?
A. Checks must be payable to the Department of State Lands (DSL). If you have any questions, please call the Reports Coordinator at 503-986-5290 between 8:00 a.m. and 5:00 p.m. Pacific time. Please send reports with remittance to:
The Department of State Lands
Unclaimed Property
Unit 18
PO Box 4395
Portland, OR 97208-4395
All other correspondence may be mailed to our office address at:
Department of State Lands
Unclaimed Property Section
775 Summer ST NE, STE 100
Salem, OR 97301-1279
Q. What happens to property once it’s turned over the State?
A. Once money or property is reported to the state as unclaimed, DSL makes a diligent effort to locate the missing owners and reunite them with their lost assets. With a few exceptions, there is no cost to the owner.
Q. Where is the money held?
A. If the owner cannot be found, the funds are held in trust in the Common School Fund (CSF) forever until the rightful owners or their heirs come forward or are found. The interest earned on the funds is distributed twice annually to Oregon schools K-12.
Q. What if the owner contacts me after remittance?
A. Holders can either refer the owner to the State to make a claim or pay the owner and fill out a holder claim form found on this website and be reimbursed by the State. If the holder elects to pay the owner and request reimbursement, it is important to contact the State first to verify that the owner has not claimed the funds.
Q. Can I charge a service fee to owners?
A. Yes, if adhering to the following conditions:
-There is a valid written contract.
-It is imposed uniformly.
-Written notice is sent via first class mail at least three months before the charge is assessed.
Q. What if I am not in compliance?
A. Holders who have not previously reported to DSL may voluntarily comply with Oregon unclaimed property statutes by reporting any outstanding obligations without penalty. Holders currently reporting will also receive the same benefit by identifying any newly discovered outstanding obligations and remitting those items voluntarily. Please call 503-986-5257, for additional information.
Print a brochure that will help explain this program to staff and others:
Print a brochure to distribute to all staff members and others that tells them how to search for unclaimed property held in their name.
 Do we have your money? We may be searching for you. 
Property Type Chart
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agencies and organizations.