Montana

Montana’s unclaimed property program is administered by the Department of Revenue under the Montana Uniform Unclaimed Property Act. Whether you're managing outstanding checks or dormant investment accounts, proactive compliance ensures smooth operations and audit-readiness.

Overview of Montana’s Unclaimed Property Law

Montana law requires “holders”, such as financial institutions, utilities, insurance companies, and other businesses, to report and remit property after it has been abandoned or inactive for a set dormancy period.

Common types of unclaimed property include:

• Checking and savings accounts
• Uncashed payroll and vendor checks
• Stocks, dividends, and mutual funds
• Insurance proceeds and annuities
• Utility deposits and refunds
• Safe deposit box contents

Once property meets its dormancy threshold, holders must complete due diligence outreach before reporting and submitting it to the state.

Montana Dormancy Periods

Holders in Montana must monitor and report property once its dormancy period has expired. Below are typical dormancy periods:

Due Diligence Requirements in Montana

Before filing a report, holders must make reasonable efforts to contact the rightful owner.

Minimum requirements include:

• Mailing a first-class notice to the owner’s last known address at least 60 days prior to filing, for property valued at $50 or more.
• Including details about the property and instructions for recovery.
• While not required, additional outreach (email, phone) is encouraged to improve response rates and strengthen the audit trail.

Montana Reporting Deadlines and Requirements

Montana 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 include:

• Format: Reports must be submitted in NAUPA II electronic format.
• Negative Reports: Not required
• Remittance: Accepted via ACH or check
• Securities: Must be pre-approved and transferred following state instructions

Read more about the Montana Unclaimed Property Reporting Requirements.

Voluntary Disclosure Program (VDA)

Montana offers an informal Voluntary Disclosure Agreement (VDA) for businesses that are out of compliance.

Benefits include:

• Reporting past-due property without penalties or interest.
• Negotiated lookback period and filing agreement with the Department of Revenue.
• Valuable for companies uncovering backlogged dormant property.

To participate, you need to send your request for a Voluntary Disclosure Agreement to the Unclaimed Property Unit.

How Eisen Helps You Stay Compliant

Eisen provides tools and support to make Montana compliance seamless:

• Escheatment Manager – Identifies dormant accounts and generates Montana-compliant reports.
• Outreach Manager – Automates due diligence outreach (mail, email, phone), ensuring evidence aligns with state law.
• Disbursement Manager – Manages disbursements via ACH, check, or wire securely.

From property research to final remittance, Eisen simplifies every step of the process, whether for financial institutions, utilities, or healthcare providers.

Turning Montana Compliance Into Advantage

In Montana, compliance is more than a legal mandate, it’s an opportunity to build trust. With Eisen, you can:

• Stay ahead of state requirements (and audits)
• Strengthen customer relationships
• Ensure operational excellence

Explore our escheatment services to learn how Eisen can transform your unclaimed property operations in Montana and beyond. Need to manage multiple states? See our full guide on escheatment laws by state.