Business

State offering unclaimed property workshops

OLYMPIA -- The Department of Revenue is offering free workshops for businesses, local governments and other organizations that must by law report unclaimed property to the state.

The workshops are intended to help businesses understand their reporting obligations. Register for a workshop at http://ucp.dor.wa.gov.

State law requires businesses and other organizations to review their records each year to determine whether they are holding unclaimed property. Typical property includes uncashed checks (including payroll and vendor checks), customer credits, utility deposits, insurance proceeds, insurance payments, securities, safe deposit box contents and other property that has been unclaimed for the required abandonment period, which varies by property type.

Last year, organizations reported more than $74 million in unclaimed property. The department compiles the information and sends claim forms to the last known address of anyone with more than $75 in unclaimed property. It lists everyone with at least $25 in unclaimed property on its searchable database accessible at http://claim yourcash.or.gov.

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