What is UCP?
Unclaimed property is money or intangible property owed to an individual or business. Property is considered unclaimed after it has been held for a period of time with no owner contact. It is then turned over to the state of Washington to safeguard until it is returned to the owner.
The Department of Revenue oversees unclaimed property for Washington, and administers the unclaimed property program to seek the rightful owners.
Reporting property (holders)
Banks, retailers, credit unions, utilities, corporations, insurance companies, and governmental entities are some of the many sources of unclaimed property. These businesses (and others) report unclaimed property annually and are typically referred to as holders.
Claiming property (searchers, owners, or claimants)
Any individual or business can search our UCP system for unclaimed property that we are holding in their name. If they find property in their name, the owner or claimant can file to get their property back. This may include an heir or someone filing for an elder who cannot file on their own.
Our new system will improve both the reporting and claiming process and help us expand our ability to return property to the rightful owner.
Types of unclaimed property
Typical unclaimed property includes:
- Bank accounts.
- Insurance proceeds.
- Stocks, bonds and mutual funds.
- Utility and phone company deposits.
- Uncashed checks, such as payroll, or insurance payments.
- Customer/patient credits.
- Safe deposit box or bank repository contents.