New Mexico

The state’s unclaimed property program is administered by the New Mexico Taxation and Revenue Department (TRD). From aged payroll checks to dormant accounts, Eisen equips you with the tools to stay compliant, safeguard customer value, and maintain audit readiness.

Overview of New Mexico’s Unclaimed Property Law

Under the New Mexico Uniform Unclaimed Property Act, holders (including banks, insurers, utilities, and corporations) must report and remit certain types of unclaimed property after a defined dormancy period. Property becomes unclaimed when there is no owner-initiated activity or contact within the designated timeframe.

Common property types include:

• Checking and savings accounts
• Uncashed payroll and vendor checks
• Insurance proceeds and annuities
• Dividends, securities, and shares
• Utility deposits and refunds
• Safe deposit box contents

Once property meets its dormancy threshold, holders must attempt to reconnect with the owner before remitting to the state.

New Mexico Dormancy Periods

Dormancy timelines vary depending on property type. Below are common categories recognized by the TRD:

Note: Dormancy periods are subject to legislative updates. Always consult the TRD’s official guidance for current rules.

Due Diligence Requirements in New Mexico

Holders must make reasonable efforts to contact owners before reporting property:

• Mail notice: Send by first-class mail to the owner’s last known address between 60 and 120 days prior to filing the report.
• Threshold: Required for property valued at $50 or more.
• Content: Notices must provide details about the property and how to claim it.‍
• Best practice: Supplemental electronic outreach (email) is encouraged to improve success rates and strengthen audit documentation.

New Mexico Reporting Deadlines and Requirements

New Mexico 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:

• Format: Reports must be filed electronically in NAUPA II format.
• Negative Reports: Required annually, even if no property is reportable.
• Remittance: Accepted via ACH Debit or Check.
• Securities: Must notify at least 2 days prior to delivery.

Read more about New Mexico’s Unclaimed Property Program.

New Mexico’s Voluntary Disclosure Program

Holders who have missed reporting deadlines can participate in the Voluntary Disclosure Program (VDA) to come into compliance without penalties.

Program features:

• Waives fines and interest for holders who self-report.
• Allows a negotiated lookback period.
• Supports businesses conducting internal audits or implementing new systems.

VDAs must be coordinated directly with the TRD.

How Eisen Helps You Stay Compliant in New Mexico

Eisen takes the complexity out of New Mexico compliance with tools that support every stage of the escheatment lifecycle:

• Escheatment Manager – Tracks dormancy timelines and automates NAUPA-compliant report generation.
• Outreach Manager – Simplifies due diligence outreach with integrated notice creation, tracking, and documentation.
• Disbursement Manager – Executes secure payments (ACH, check, wire) with full audit traceability.

Turning New Mexico Compliance Into Strength

Compliance in New Mexico is not just about avoiding penalties—it’s about creating confidence, transparency, and operational consistency. Eisen helps you:

• Stay ahead of deadlines and requirements
• Reduce audit risk with documented processes
• Strengthen customer relationships through proactive outreach

With Eisen, escheatment becomes a strategic advantage, in New Mexico and nationwide. Need to manage multiple states? See our full guide on escheatment laws by state.