Unclaimed Property Reporting

MA Businesses are Required to File a Yearly Report

Unclaimed property consists of tangible and intangible property that has been abandoned

for a one year or longer period and includes refunds, wages, bank accounts, utility deposits, insurance policy proceeds, and more.



For detailed information on Unclaimed Property please visit the Massachusetts' State Treasurer's Unclaimed Property Division's website at https://www.findmassmoney.com or select the links below.



Frequently Asked Questions

What types of property should I look for?

Checks you've issued but were never cashed by the recipient; for example: payroll, patient refunds and patient account balances never used nor returned to the patient.


How far back should I look to find this unclaimed property?

There is a specified period of time (based on property type) for property to remain unclaimed before it should be reported to the state. Ranges for the 3 types of property that most apply to you are listed in Step 1. For additional property types, please see "Reporting Guidelines PDF" link below for more information.


What if I have nothing to report!?

You are required to file a zero on what is called a "Negative Report."

Click Here to File


What if I have never filed?

A Voluntary Disclosure Program is available to help companies or holders of unclaimed property become compliant if they have not reported in past reporting cycles. In exchange for voluntary compliance penalties and interest will be waived. Please see link below for more information.



The Reporting Process

Step 1: Review records to identify unclaimed property.


Uncashed Payroll Checks, Refund Checks & Patient Account Balances issued between 07/01/19 – 06/30/20.

Step 2: Send written notice to property owner.


  • Send by September 1st.
  • Send by first-class mail for values of $100 or more.
  • See Reporting Guide PDF for information to include in your due diligence letter.

Step 3: Submit Data Online.


Report Online


Report Due November 1st


All amounts must be remitted.


The following information is needed (if available to holder): Owners full name, last known address, social security number (SSN) or federal tax identification number (FEIN), check numbers with amounts and dates, date of last activity or contact with owner.


Although "strongly discouraged" property valued at less than $100 may be reported in aggregate. For these, owner details are not reported; however, you should keep a detailed listing for your records.


See Manual Online Reporting Instructions for a step-by-step guide to filing.

Step 4: Remit funds due.


Delivery of Funds



Links to Additional Resources

FAQs


Reporting Guidelines PDF


Reporting Guidelines Webpage


Voluntary Disclosure Program