Maryland

The Maryland unclaimed property program is administered by the Comptroller of Maryland. Whether you’re handling dormant accounts, uncashed checks, or forgotten securities, proactive and precise compliance is critical.

Overview of Maryland’s Unclaimed Property Law

Maryland’s Uniform Disposition of Unclaimed Property Act requires “holders”, including financial institutions, businesses, utilities, insurers, and government entities, to report property considered abandoned or unclaimed after a defined dormancy period.

Common property types include:

• Checking and savings accounts
• Uncashed payroll, vendor, and rebate checks
• Insurance proceeds and annuities
• Securities such as stocks and dividends
• Safe deposit box contents
  

Once property reaches its dormancy period, holders are required to attempt contact (due diligence) and, if unsuccessful, report and remit the property to the state. Learn more about the escheatment process.

Maryland Dormancy Periods

Understanding Maryland’s dormancy timelines helps ensure accurate reporting. Below are the most frequently reported property types and their dormancy periods:

Per Maryland law, any property held beyond its dormancy period is presumed abandoned and must be reported unless owner contact has been re-established.

Due Diligence Requirements in Maryland

Before reporting to the state, Maryland requires holders to make a reasonable and documented effort to contact the rightful owner:

• Notices must be sent at least 30 days but no more than 120 days before the report date for property valued at $100 or more
• Written communication must be sent by first-class mail, and if available, email outreach is encouraged
• Keep accurate records of all outreach attempts to support escheatment compliance

Maryland Reporting Deadlines and Requirements

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

• 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 include:

• Reports must be submitted electronically using the NAUPA II format
• Negative (zero) reports are not required when there is no property to report
  
• Payments and reports are filed via the Holder Reporting Portal

Read more about the Maryland filing requirements on the Maryland Report Your Property webpage.

Maryland’s Voluntary Disclosure Program

If your organization is behind on reporting, Maryland offers a Voluntary Disclosure Agreement (VDA) program:

• Encourages holders to self-report prior to audit
• Fines and penalties are typically waived
• Offers a limited lookback period when initiated proactively

Holders must submit a written request to participate and agree to timely completion of the reporting process.

How Eisen Helps You Stay Compliant in Maryland

Eisen’s platform is designed to simplify the escheatment process from start to finish. Our automated tools help identify unclaimed property, generate state-compliant reports, and meet Maryland’s due diligence requirements with confidence.

• Escheatment Manager – Tracks dormancy timelines and property status to ensure timely reporting
• Outreach Manager – Facilitates due diligence with automated notices and follow-up tracking
• Disbursement Manager – Oversees secure, auditable payments via wire, ACH, or check‍
• Mail Management – Automates and tracks escheat mail management to reduce manual errors and prove compliance

Turn Maryland Compliance Into a Strategic Advantage

Maryland’s unclaimed property regulations can present challenges—but they also offer an opportunity to strengthen your compliance infrastructure and demonstrate your commitment to customers.

With Eisen, you don’t just meet requirements, you implement efficient, auditable processes that protect your brand and support long-term growth.