North Carolina

The North Carolina Department of State Treasurer (DST) administers the state’s unclaimed property program, known as NC Cash, under Chapter 116B of the North Carolina General Statutes. From dormant bank accounts to uncashed checks, holders must ensure timely and accurate reporting.

Overview of North Carolina’s Unclaimed Property Law

North Carolina law requires “holders” (any entity in possession of unclaimed property) to remit that property to the state when it is presumed abandoned. The NC Cash program reunites rightful owners with their financial assets while ensuring holders stay compliant.

Examples of reportable property include:

• Checking and savings accounts
• Uncashed payroll and vendor checks
• Insurance proceeds and annuities
• Stocks and other securities
• Tenant deposits and credit balances
• Safe deposit box contents

Failure to comply can result in fines, penalties, and audit exposure. Proactive outreach and timely reporting are essential.

North Carolina Dormancy Periods

Dormancy timelines vary by property type. Once a property meets its threshold, holders must initiate due diligence and prepare to report.

Note: Gift card and certificate exemptions apply under specific state statutes. Consult Chapter 116B or DST directly for details.

Due Diligence Requirements in North Carolina

Before reporting, holders must complete required due diligence outreach:

• Mail notice: Send a letter by first-class mail to the owner’s last known address between 60 and 120 prior to filing, for property valued at $50 or more. If the property is a Security, the threshold drops to $25.
• Content: Notices must describe the property, its value, and instructions for claiming it.
• Best practice: Supplemental outreach (such as email) is encouraged to increase recovery rates and strengthen audit documentation.

Effective due diligence is critical to maintaining compliance and demonstrating good faith during audits.

North Carolina Reporting Deadlines and Requirements

North Carolina 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 filed in NAUPA II format.
• Negative Reports: Not mandatory but encouraged.
• Remittance: Accepted via ACH Debit, ACH Credit, Wire Transfer, and Check
• Securities: Must be transferred according to DST instructions.

Read more about North Carolina’s Unclaimed Property Program, NC Cash.

North Carolina’s Voluntary Disclosure Program

The state offers a Voluntary Disclosure Program (VDP) for holders who need to take the steps necessary to become fully compliant.

Program benefits:

• Waives penalties and interest for overdue property.
• Provides a structured lookback period.
• Reduces audit risk through proactive disclosure.

Holders must provide reporting history and coordinate directly with the DST to participate.

How Eisen Helps You Stay Compliant in North Carolina

Eisen’s platform turns escheatment from a manual burden into a streamlined, automated workflow:

• Escheatment Manager – Tracks dormancy thresholds, flags eligible property, and generates North Carolina–compliant reports.
• Outreach Manager – Automates due diligence notices to maximize owner contact and provide an audit-ready record.‍
• Disbursement Manager – Facilitates secure reissuance of funds via ACH, wire, or check, resolving liabilities before reporting.

Unlock the Power of Proactive Compliance

North Carolina’s escheatment laws demand accuracy, preparation, and strong internal processes. With Eisen, compliance becomes more than a requirement—it becomes a strategy for strengthening trust, minimizing risk, and maintaining operational excellence.

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