What Is Unclaimed Property

​Unclaimed Property (UCP) is abandoned property.  Depending on the type of property, unclaimed assets will have been abandoned anywhere from one to 15 years prior to being reported to the Auditor’s UCP Division. Unclaimed property includes savings accounts, checking accounts, unpaid wages or commissions, stocks, dividends proceeds, refunds, money orders, paid-up life insurance policies, utility deposits and contents of safe deposit boxes.

In accordance with individual state laws, property becomes abandoned or unclaimed if the owner cannot be contacted by the business or entity holding the asset (the “holder”) within a specified period of time.  For more information on the period of time, see the dormancy periods below.

Arkansas has Unclaimed Property laws to protect unclaimed property and return it to its rightful owners or their heirs. The State Auditor takes custody of the property so the owner may claim it, even if the original holder (like a financial institution) is no longer in business. The law also centralizes the search for lost property. Arkansas residents trying to locate forgotten bank accounts and other property need only look in one place: the Unclaimed Property Division of the Arkansas Auditor's Office.

Arkansas UCP Dormancy Periods

Property Type Period
Class Action proceeds 1 year
Courts 1 year
Credit Balance 3 years
Debt Security 5 years
Demand, Savings, or Time Deposit 5 years
Dissolution Distribution 1 year
Government, Governmental Subdivision, Agency or Instrumentality 1 year
Insurance/Annuity 3 years
Life/Endowment 3 years
Mineral Proceeds 5 years
Money Orders 7 years
Retirement Accounts and Plans 3 years
Safe Deposit Box Contents or Safekeeping 5 years
Stock or other equity interest 5 years
Travelers Checks 15 years
Wages, commissions 1 year
Utility Deposit or Refund 1 year
All Other Property not specifically listed such as uncashed checks, drafts, and instruments; property held by agents and fiduciaries, etc. 5 years