Report Unclaimed Property

REPORTS ARE DUE BY NOVEMBER 1st.

The State Treasurer’s Office is proud to partner with the business community to achieve our shared goal of returning unclaimed assets to their rightful owner.  

With the support of our holder community, this year we increased the number of properties paid by 21% and returned almost $18 million to South Carolinians. With holder season fast approaching, we are looking forward to another record breaking year. 

As always, if we can provide you with any assistance, our staff is here to help.  Please don't hesitate to contact us.  You can reach us by phone at (803) 737-4771 or by email at payback@treasurer.sc.gov.


REPORTING REQUIREMENTS

If your organization is holding unclaimed property for individuals or businesses with a last known address in South Carolina, you must report this property to the State of South Carolina each year. 

Unclaimed property consists of intangible personal property, including general ledger and securities-related property, for which there has been no owner-initiated activity for a specified period of time, usually five years.  

Property that has been unclaimed for the dormancy period specific to that property type as June 30th is reportable by November 1st.  Click here for a list of due dates  by property type.  

Safe Deposit Boxes

With the exception of US Savings Bonds, South Carolina does not accept any other property located in an abandoned safe deposit box.  For information on disposing of other contents located in a safe deposit box, click here.  

Reporting Codes

Property type codes, owner type codes, and relationship codes are required.

Reporting Codes

Due Diligence Requirements

No more than one hundred twenty days before the holder files its report, the holder must send a written notice to the apparent owner stating that the holder is in possession of property which has been deemed abandoned and will be remitted to the state as unclaimed if the apparent owner does not reply. Due diligence notices need only be sent for accounts of $50 or more and do not need to be sent to those owners for whom the address on the holder’s records has been proven to be incorrect.

Due Diligence Letter

Property Reportable to Another State

South Carolina will accept incidental property (ten [10] or fewer properties, totaling $1,000.00 or less) reportable to another stat only if allowed by the other state. Please refer to the NAUPA Reciprocity Matrix for state specific information.

Important: If you include unclaimed property reportable to other states in your South Carolina report, you must comply with the unclaimed property laws of the states last known address in reporting those items.


 CREATING THE REPORT

South Carolina requires all holder reports to be submitted electronically in a NAUPA-formatted file

There are several holder reporting software products on the market that can help you prepare your report in the correct format including two free products endorsed by NAUPA: UPExchange and HRS Pro. 


FILING THE REPORT

 

For security reasons, South Carolina will not accept holder reports submitted on CDs, USB drives, diskettes or by paper reports.   Reports must be submitted using one of the three methods outlined below:

1.       Through UPExchange (for reports prepared using UPExchange)

2.       Through UPExpress (for reports prepared using other reporting software)

3.       As an attachment to an email sent to upreports@sto.sc.gov 

Be sure to include the Cover Sheet and Remittance Information Form with your report. The FEIN number, company name, address, and holder contact information must be included on the cover sheet. Our FEIN is: 57-0882454.   

Funds may be remitted by ACH, bank check or bank wire.  Information on the various remittance methods can be found on the Remittance Information page.


DELIVERING SECURITIES

Eligible securities should be delivered to the Unclaimed Property Program's brokerage account. Information for delivering securities can be found on our Remittance Information page. All other securities should be registered in the name of the South Carolina State Treasurer, Unclaimed Property Program and sent with the report.


FOR ASSISTANCE

If you have questions or need assistance filing and unclaimed property report, please call us at (803) 737-4771, or send an email to the Palmetto Payback Staff.

South Carolina Unclaimed Property Program mailing addresses can be found here.

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