Arizona Requires You To Turnover Unclaimed Property
October 1, 2019
Have you ever had a former employee that didn’t cash their final paycheck? Or a vendor who never cashed their check for services or products you received? Arizona considers these funds as unclaimed property and require that they be turned over to the state. The Arizona Unclaimed Property Unit is responsible for holding unclaimed assets and returning them to their rightful owner.
The Department requires annual reports be filed by November 1st of each year, reporting any abandoned property from the last twelve months before July 1st of that year. A due diligence letter must be sent to the rightful owner 120 days prior to submitting the funds to Arizona. To submit the funds to Arizona, please click here to view the reporting requirements.