Unclaimed Property Reporting

Maine 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.

The Unclaimed Property Act requires all holders to examine their records each year to determine whether they are in possession of any unclaimed property and if so, attempt to locate the rightful owners. If the holder is unsuccessful in locating the owners, the holder is required to remit the property to the State Treasurer’s Office along with an annual holder report.

For detailed information on Unclaimed Property please visit the Treasurer's website at https://www.maineunclaimedproperty.gov/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 Manual" 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 don't file?

A holder who fails to report, pay, or deliver property within the time prescribed by law may be assessed 18% interest from the date the property should have been reported. In addition, the state may impose penalties of $200 per day. 

The Reporting Process

Step 1: Review records to identify unclaimed property.

  • Uncashed Payroll Checks you issued between 07/01/21 – 06/30/22
  • Uncashed Refund Checks you issued between 07/01/19 – 06/30/20
  • Unclaimed Patient Account Balances as of 07/01/19 - 06/30/20

Step 2: Send written notice to owner.

  • Not required for amounts under $50.
  • Send between 05/01/23 and 09/1/23.

Example letter in Reporting Manual (see link below).

Step 3: Submit Data Online.

  • Report Due November 1st
  • All amounts must be remitted to the state.
  • Property valued at less than $50 may be reported in aggregate if the owner is unknown. For these, owner details are not reported; however, you should keep a detailed listing for your records.
  • See list of Information Required to File Holder Report in Maine's Reporting Manual

Report Online

Manual Online Reporting Tutorial

Step 4: Remit funds due.

The State of Maine accepts 2 forms of payment, ACH-Debit and by check. See links below for additional information.

Links to Additional Resources

Reporting Guidelines

Reporting Manual