What happens to property
that is not claimed by its owner?
All unclaimed property is held in trust in perpetuity by
the state of North Dakota. All unclaimed property is invested in
the Common Schools Trust Fund and the income is used to benefit
North Dakota's kindergarten through high school students.
What efforts are made to
find the unclaimed property owners?
The Unclaimed Property Division advertises twice in a newspaper
of general circulation in each county. Division staff attend multiple
trade shows and fairs each year to both publicize the names of
property owners and provide information for property holders.
In addition, radio and
television appeals are made to get information out to property
owners. The division also maintains an Internet site (as you know)
which provides a variety of information to holders
Is a negative report
If you have nothing to report, we recommend filing a negative report,
either via the website or on diskette or CD Rom in NAUPA format. Negative reports
help establish a solid reporting history for your business in years when you don't
have any property to remit.
When is the report due?
November 1 for all companies other than life insurance companies
for whom the due date is May 1.
What is the cut off date?
June 30 for all companies other than life insurance companies for
whom the cut off date is December 31.
When will the report forms
Report forms are not sent but can be downloaded, along with
instructions, from this web site.
Is the property due with
Yes. North Dakota requires that all property be remitted with the
Is due diligence necessary
and when does that need to be done?
Yes. Due diligence is required to be completed no more than 120
days prior to the date of the report. It must be in the form of a
written notice to the apparent owner at the owner's last known
address informing the owner that the holder is in possession of
What happens if the owner
comes forward to collect their property after we have remitted it
to the Unclaimed Property Division?
The customer can be referred directly to the Unclaimed Property
Division or you can honor their request and then submit a request
for reimbursement to the Unclaimed Property Division.
What should I do if I
discover property that was missed when I filed the last unclaimed
File, as soon as possible, an amended report for the year in
which the error occurred. Call the Unclaimed Property Division if
you want to clarify the situation.
Which state should receive
our unclaimed property?
If the last address for the owner is a North Dakota address,
unclaimed property should be sent to North Dakota. If the address
is in another state, unclaimed property should be sent to that
state. If there is no address the unclaimed property should be
sent to the state of incorporation of a corporation or the state of
domicile of the main office for any other type of organization.