New Jersey

The New Jersey Unclaimed Property Administration (UPA), part of the Department of the Treasury, manages unclaimed property under the Uniform Unclaimed Property Act. Whether it’s dormant bank accounts, insurance proceeds, or uncashed checks, businesses must report and remit eligible property on time. Eisen is here to make that process easier and more accurate.

Overview of New Jersey Escheatment Law

Under New Jersey’s Uniform Unclaimed Property Act, holders are required to report certain types of property once they’ve remained inactive for a defined period of time. Covered property types include bank accounts, payroll, refunds, securities, insurance benefits, and more. After the dormancy period, businesses must make a good faith effort to contact the owner and submit a report to the UPA.

New Jersey Dormancy Periods

Here are common property types, their NAUPA property codes, and dormancy periods:

*Note: In New Jersey, certain stored-value cards without expiration dates or inactivity fees may be exempt from escheatment. For up-to-date exemptions and requirements, consult with the UPA or a compliance expert.

Due Diligence Requirements

Before filing, New Jersey requires holders to reach out to owners to attempt to return property:

• For property valued at $50 or more, a notice must be sent by certified mail with return receipt requested no less than 60 days and no more than 120 days before the report is filed.
• Supplemental methods, such as email, are encouraged and may help increase owner response.
• Holders should retain documentation of all outreach efforts to support audit readiness.

Reporting Deadlines and Filing Requirements

New Jersey’s reporting requirements vary depending on the type of holder: 

Life Insurance Companies must file an Unclaimed Life Insurance Report

• Report Period: January 1 - December 31
• Report and Payment Due: May 1

All Other Businesses must file an Unclaimed Personal Property Report

• Report Period: July 1 - June 30
• Report and Payment Due: November 1

Reports must be submitted electronically via New Jersey’s online reporting portal in NAUPA format. Negative reports are required when no unclaimed property is due.

Your filing package should include:

• NAUPA-formatted report
• Payment via ACH, wire, or check
• Transfer of securities, if applicable

Voluntary Disclosure Opportunities

If your business has missed past reporting deadlines, New Jersey offers a Voluntary Compliance Program through the Office of Compliance and Asset Management. To qualify, you must:

• Complete and Submit the ‘Request for VCP Admission’ Form
• UPA Reviews and Approves Entry to VCP
• Business Entity (or Representative) Issues Initial Findings for Review
• Final Approval of Findings, Report and Remittance of Unclaimed Property

Participation can help you reduce penalties, prevent audits, and demonstrate a commitment to proactive compliance.

How Eisen Helps You Stay Compliant in New Jersey

At Eisen, we make escheatment manageable. Our software and escheatment services help you stay on track, avoid errors, and ensure every step is completed with accuracy.

• Escheatment Manager: Flags eligible accounts, monitors dormancy timelines, and auto-generates required reports.
• Outreach Manager: Handles due diligence notices and boosts reunification with property owners.
• Disbursement Manager: Manages payments and securities transfers efficiently and securely.

Eisen is more than a compliance tool. We’re your partner in delivering accuracy, integrity, and results.