Businesses will learn how to identify and manage unclaimed property
OLYMPIA, Wash. – June 28, 2018 – Many businesses may be holding onto unclaimed property and not know it. This summer and fall, the Washington State Department of Revenue is hosting several workshops in Seattle, Tacoma, Tumwater, and Spokane to teach businesses about unclaimed property. The workshop will include what unclaimed property is, what to look for, and how to report it to the department.
Unclaimed property includes uncashed checks (including payroll), utility deposits, bank accounts, customer credits, refunds, stocks and bonds, and contents of in safe deposit boxes. Businesses must report employees or customers’ unclaimed property after losing contact with them for an extended period. This means it is reportable after one year for payroll checks, and three years for most other type of property.
Revenue offers three specialized courses: basics, financial institutions, and government agencies. More information about each course and registration details are available at: dor.wa.gov/UCPWorkshops.
All Revenue workshops are free and offered on a first-come, first-serve basis.
Businesses and individuals can search claimyourcash.org to see if they have any unclaimed property in Washington.
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