Quick Guide: Arizona Escheat & Unclaimed Property Laws

This page addresses key areas of interest regarding Arizona unclaimed property and escheatment laws and regulations.

Key Arizona Unclaimed Property Reporting Deadlines

The deadline for annual reporting and remittance in Arizona is October 31st for all holders, except life insurance companies, who must report by April 30th. Early reporting is permitted with prior written approval from the Administrator.

All holders have an obligation to report abandoned or unclaimed property to the state in order to maintain compliance with Arizona’s unclaimed property laws and regulations. Holders reporting to Arizona are required to submit their reports electronically for reports that contain 11 or more properties. Written reports may be submitted for reports containing fewer than 11 properties.

Arizona Due Diligence Requirements

Arizona requires holders to send due diligence notifications for any property with a value of $50 or more. Due diligence letters must be sent each reporting cycle to the apparent owner at the last known address no less than 120 days prior to filing the report.

This notice should inform the owner that the holder is in possession of unclaimed property that will be turned over to the state unless the owner claims it from the holder before the report is filed.

Arizona Voluntary Compliance Program

Arizona offers holders with past-due property a way to come into compliance through its Voluntary Compliance Program. Under this program, the holder agrees to report all items for the last 10 reporting years, and file on time in the future. The state agrees not to charge penalties or interest, and to indemnify the holder against claims on items reported. In order to qualify for this program, holders must not currently be under examination or audit.

You can find more in-depth information regarding the Arizona voluntary disclosure agreement program here.

Arizona Unclaimed Property Links

Arizona Unclaimed Property Administration Website
Arizona Unclaimed Property Reporting FAQs
Arizona Unclaimed Property Voluntary Compliance Program

What Are the Holes in Your Unclaimed Property Process?

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Key Unclaimed Property Reporting FAQs

The Arizona unclaimed property reporting process can be challenging for holders. Does your organization have questions about state unclaimed property laws and requirements? Click on the link below for frequently asked questions regarding unclaimed property reporting and compliance.

Unclaimed Property Reporting & Compliance FAQs

Confused or Overwhelmed? Need Answers?

Reporting unclaimed property in Arizona can be a stressful process that consumes valuable internal resources. However, when properly managed, the annual reporting and escheatment process does not need to be a burdensome experience.

Contact Keane for assistance in guiding your organization on the path to unclaimed property compliance, or visit our resource library for additional educational and operational resources.

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