Massachusetts
Navigating unclaimed property compliance in Massachusetts means more than meeting regulatory benchmarks—it means protecting your organization from risk while serving your customers with integrity. At Eisen, we make the Massachusetts escheatment process actionable and efficient, so you can stay ahead of audits and focus on driving impact.
Massachusetts’ unclaimed property program is administered by the Unclaimed Property Division under the Office of the State Treasurer and Receiver General. Reporting requirements cover everything from dormant accounts to uncashed checks, and ensuring timely compliance is critical.
Overview of Massachusetts’ Unclaimed Property Law
Under Massachusetts General Laws Chapter 200A, businesses and other “holders” must report and remit unclaimed property after a designated dormancy period has elapsed. Property types include, but are not limited to:
- Checking and savings accounts
- Uncashed payroll and vendor checks
- Securities and dividends
- Life insurance benefits
- Safe deposit box contents
Once the dormancy period ends, holders must perform due diligence to notify the rightful owner before filing an unclaimed property report with the state. See our full guide to the escheatment process.
Massachusetts Dormancy Periods
Understanding dormancy periods is key to remaining compliant. Below are the most common dormancy timelines in Massachusetts:
Note: Massachusetts generally treats most property as unclaimed after three years of inactivity. Always confirm current statutes via the Massachusetts Unclaimed Property Division.
Due Diligence Requirements in Massachusetts
Massachusetts requires holders to make a good-faith effort to contact the owner before reporting the property. Minimum due diligence requirements include:
- Sending written notice via first-class mail to the last known address at least 60 days before filing the report for property valued at $100 or more
- Notices must include a clear description of the property and how to claim it
While not required, electronic outreach via email or phone is encouraged to improve recontact rates and strengthen your escheatment compliance.
Massachusetts Reporting Deadlines and Requirements
Massachusetts’s reporting requirements vary depending on the type of holder.
Life Insurance Companies:
- Report Period: January 1 - December 31
- Report and Payment Deadline: May 1
All Other Businesses:
- Report Period: July 1 - June 30
- Report and Payment Deadline: November 1
Additional requirements:
- Reports must be submitted electronically in NAUPA format
- Negative (zero) reports are required even if there is no property to report
- Remittance must be made via ACH or wire transfer.
Read more about the Massachusetts Unclaimed Property Remitting Guidelines.
Massachusetts’ Voluntary Disclosure Program
Fell behind on reporting? Massachusetts offers a Voluntary Disclosure Agreement (VDA) that allows eligible holders to report past-due property without facing penalties or interest.
Key details:
- Most VCPs include a time-limited review period
- Pre-approval is required, and early engagement is encouraged
Read more about the Massachusetts Voluntary Disclosure Program.
How Eisen Helps You Stay Compliant in Massachusetts
At Eisen, we make compliance with Massachusetts escheatment laws both simpler and stronger. Our end-to-end platform handles the complexities behind identifying, reporting, and remitting unclaimed property so your team can focus on delivering a great customer experience.
Key features include:
- Escheatment Manager – Tracks dormancy periods and flags eligible property types according to Massachusetts rules
- Outreach Manager – Automates and monitors due diligence notices to strengthen your audit trail
- Disbursement Manager – Handles payments via check, ACH, or wire for resolved claims before escheatment
We also support complex scenarios like dormant account management and the escheatment of outstanding checks, giving your team confidence across every stage.
Turn Massachusetts Compliance Into a Strategic Advantage
Massachusetts’ escheatment rules require more than routine compliance—they call for proactive processes and consistent diligence. With Eisen, you can reduce manual work, lower regulatory risk, and build lasting trust with customers and auditors alike.
Compliance isn’t just about checking the box, it’s about moving your business forward with confidence.
Leading Financial Institutions Trust Eisen for Multi-State Escheatment Compliance
Join the ranks of industry leaders who rely on Eisen for seamless escheatment management across multiple states.
"Eisen’s innovative approach to escheatment automation complements our focus on delivering technology-driven banking solutions that create better experiences for our customers and efficiencies for our team."
— Nathalie Derosena-White, VP, Head of Operations, bankprov