As part of the implementation of SB 5531 which updated the processes for reporting and filing claims under the state’s unclaimed property website, the Department of Revenue (DOR) estimated that it held $3 million owed to local governments. One city already found $4,000 with a quick search. Search the website for your city (as well as your family or business) to see if you have a claim for fund. Claimyourcash.org

Also check out the revised processes and deadlines for submitting property to the program website and responding to claims for those owed funds. The revised process will take effect on January 1, 2023, and implements the national revised uniform law for unclaimed property (Ch. 63.30 RCW). One significant change is the abandonment period for reporting, which are due from public agencies each year on October 31. Beginning on October 31. 2023, the abandonment period will change from two years to one year, which means the 2023 report will contain two years of unclaimed property information. The law also changes the processes for holding and reporting assets, indemnity provisions for assets submitted to the state, and processes for notifying DOR of resolved claims. To help government agencies and businesses prepare for the changes, DOR has scheduled a series of webinars.

Dates to remember

DOR has scheduled a series of webinars for government agencies on the recent changes to the unclaimed property law effective on January 1, 2023:

• August 17: 9–11 am
• September 14 : 9–11 am
• October 13: 9–11 am