Georgia

Overview of Georgia’s Unclaimed Property Law

Georgia’s unclaimed property program is administered by the Georgia Department of Revenue (DOR) under the Disposition of Unclaimed Property Act. Businesses and entities—known as “holders”—are required to report unclaimed property after a designated dormancy period has ended.

Covered property types include:

• Checking and savings accounts
• Uncashed payroll and vendor checks
• Insurance proceeds and annuities
• Dividends and securities
• Utility refunds and deposits
• Contents of safe deposit boxes

Once property becomes dormant, holders must conduct due diligence efforts and submit an annual report to the DOR in accordance with Georgia’s unclaimed property laws.

Georgia Dormancy Periods

Timely identification of dormant property is crucial for escheatment compliance. Dormancy periods vary depending on asset type, with most ranging from 1 to 5 years. Below are common dormancy timelines:

Due Diligence Requirements in Georgia

Before turning over unclaimed property to the state, Georgia requires holders to perform due diligence outreach to reconnect with property owners. This helps avoid escheatment and demonstrates proactive compliance.

Minimum requirements include:

• Mailing a first-class due diligence letter to the owner’s last known address no more than 120 days and no fewer than 60 days before the report is filed, for property valued at $50 or more
• While Georgia doesn’t currently require email or phone outreach, adopting additional communication methods can strengthen your compliance posture

Georgia Reporting Deadlines and Requirements

Georgia’s reporting requirements vary depending on the type of holder.

• Life Insurance Companies:
  
  • Report Period: January 1 - December 31
  • Report and Payment Deadline: April 30
• All Other Businesses:
  
  • Report Period: July 1 - June 30
  • Report and Payment Deadline: October 31

Additional requirements:

• Reports must be submitted electronically in NAUPA format
• Filing must be done online via the Georgia DOR Unclaimed Property Reporting Portal
• Remittances must be made via check
• Negative reports are required, even if no unclaimed property is held

Georgia’s Voluntary Disclosure Program

If you're behind on reporting, Georgia offers a Voluntary Disclosure Program (VDP) initiative that allows holders to come into compliance without penalty.

The VDA program enables businesses to:

• Self-report historical liabilities
• Avoid interest and fines
• Reset their compliance strategy and reduce future audit exposure

Georgia also offers limited extensions for filing unclaimed property reports. Read more on the state’s Frequently Asked Questions (FAQ).

How Eisen Helps You Stay Compliant in Georgia

At Eisen, we make Georgia escheatment compliance simple - whether you're dealing with dormant accounts, unclaimed dividends, or the escheatment process for outstanding checks. Our platform empowers your team to act confidently and consistently.

• Escheatment Manager – Identifies dormant property, calculates dormancy periods, and auto-generates Georgia-compliant reports
• Outreach Manager – Automates due diligence notices and tracks owner responses
• Disbursement Manager – Handles secure refund payments via check, ACH, or wire with full audit trails

Need help with escheatment for healthcare entities or escheatment for utility companies? Our tools are industry-tailored to meet your specific regulatory needs.