There are two types of payments the Unclaimed Property (UCP) Division will make to holders after a holder has remitted unclaimed property. The most common type is a reimbursement; the second is a refund.
Reimbursement
In this process, a holder decides to pay an owner and then files a claim with the Unclaimed Property Division for reimbursement. We encourage you to use the reimbursement process for your customers. We make every effort to respond to your request as quickly as possible. The requirements for obtaining reimbursement are:
- Complete and send a notarized Holder Request for Reimbursement to the Unclaimed Property Division requesting reimbursement for specific amounts. Please reference the year the property was reported and the tax identification number under which it was reported.
- Attach proof of payment for each owner paid (a copy of the cleared item such as original cashier's check with the endorsement of the owner or other proof that the account was reactivated). After receipt of the notarized reimbursement request and proof of payment to the owner(s) the UCP division will mail a reimbursement to the holder. This process usually takes 2 to 4 weeks.
Refunds
Refunds are made when holders overpay on an unclaimed property report. The over-payments are usually due to accounting errors or other mistakes.
To file for a refund, provide proof or explanation, verified or notarized, of how the error was made. A refund will be mailed to you in approximately 2 to 4 weeks.
Holder Request for Reimbursement - PDF