Important Notices

March 08, 2011

Three Important Announcements about Unclaimed Property

The following message is from the Holder Outreach Team at the State Controller's Office (SCO):

To Holders of Unclaimed Property:

The State Controller’s Office would like to share with you three important announcements regarding unclaimed property:

  1. California updated the Unclaimed Property Holder Handbook available on the State Controller’s website at:  http://www.sco.ca.gov/Files-UPD/guide_rptg_holderhandbook.pdf.  The handbook includes a new instruction guide for Electronic Funds Transfer (EFT).  Please note that the EFT forms have been updated!
  2. A New Notice to Holders Instructions for Remitting Securities has been posted at:  http://www.sco.ca.gov/upd_rptg_notice.html .  This notice provides important securities information such as:
    • Preparation and submittal of the SS-1 Form,
    • Liquidating fractional shares and reporting as cash,
    • Requirement for direct registration to transfer Open-End Mutual fund shares,
    • Itemizing non-transferrable issues on the Remit Report,
    • Additional new contact information, Report ID number requirements, and more. 
    • Please thoroughly review the Securities document to ensure accurate reporting.
  3. NAUPA ANNOUNCEMENT: the National Association of Unclaimed Property Administrators (NAUPA) is hosting a National Unclaimed Property Holder Workshop & Forum in Atlanta, Georgia May 3-4, 2011
    You can view the agenda on the NAUPA Website at:  http://www.unclaimed.org/reporting/new-naupa-holder-workshop/ .Should you have questions, please contact NAUPA at: naupa@csg.org.

CPE Credit:  NAUPA will provide letters of recommendation to be sent to state boards of accountancy upon request.

If you have any reporting questions, please contact the Unclaimed Property Reporting Unit at (916) 464-6284 or ucpreporting@sco.ca.gov .  General questions regarding unclaimed property may be directed to the Holder Outreach Unit at: updholderoutreach@sco.ca.gov .

Thank you for your time,

The Holder Outreach Team