This page addresses key areas of interest regarding Washington State unclaimed property escheatment laws and regulations.
Like most states, escheat reporting deadlines for Washington State are in the fall. Holders have an obligation to report abandoned or unclaimed property to the state in order to maintain compliance with Washington’s unclaimed property laws and regulations.
Washington State requires holders to perform due diligence mailings for items valued at $75 or greater each reporting season. It is recommended that holders begin their due diligence mailings early in each reporting cycle. Most states have guidelines mandating that these letters be sent 60-120 days prior to when reports are due. Holders should plan mailings accordingly to proactively notify owners and maximize the effectiveness of these campaigns.
- Washington State Department of Revenue
- Washington State Holder Content
- Washington State Unclaimed Property Reporting Quick Guide
- Washington State Guide to Unclaimed Property Reporting
Washington State’s 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.
What Are the Holes in Your Unclaimed Property Process?
Answer 8 questions to understand your level of unclaimed property risk in as little as 30 secondsWhat's My Risk?
Reporting unclaimed property in Washington State, and other jurisdictions, 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.