South Carolina

The South Carolina State Treasurer’s Office administers the state’s unclaimed property program under the South Carolina Uniform Unclaimed Property Act. From dormant bank accounts to uncashed checks, compliance demands accuracy, timely reporting, and proactive outreach.

Overview of South Carolina’s Unclaimed Property Law

Holders—including banks, insurers, utilities, and corporations—must report and remit unclaimed property that has been inactive for a specified period. Once dormancy is reached, businesses must attempt to contact the rightful owner before transferring property to the state.

Reportable property types include:

• Checking and savings accounts
• Uncashed payroll and vendor checks
• Insurance policy proceeds
• Securities and dividends
• Refunds, rebates, and credits
• Utility deposits
• Safe deposit box contents

Failure to comply can result in fines, penalties, and audit exposure, making escheatment a critical compliance function.

South Carolina Dormancy Periods

Dormancy thresholds vary by property type. Below are common categories and timelines:

Due Diligence Requirements in South Carolina

Before reporting, holders must make a good-faith effort to contact property owners:

• Mail notice: Send by first-class mail to the last known address no more than 120 days before reporting.
• Threshold: Required for property valued at $50 or more.
• Best practice: Supplemental outreach (email, phone) is encouraged to increase owner responses and strengthen audit documentation.

Effective due diligence demonstrates good-faith compliance and reduces escheatable property.

South Carolina Reporting Deadlines and Requirements

South Carolina follows an annual reporting schedule:

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

Additional requirements:

• Format: Reports must be submitted electronically in NAUPA II format via the South Carolina Holder Reporting Portal.
• Negative Reports: Required, even if no property is due.
• Remittance: Payments submitted separately by ACH Debit, ACH Credit, and Wire Transfer.
• Securities: May require pre-approval, coordinate with the Treasurer’s Office early.

Read more about South Carolina’s Unclaimed Property FAQs.

South Carolina’s Voluntary Disclosure Program

South Carolina offers a Voluntary Disclosure Program (VDP) for businesses that have fallen behind on annual unclaimed property reporting.

Program benefits include:

• Reporting past-due property without penalties or interest.
• A structured process to review and disclose historical liabilities.
• An opportunity to resolve compliance issues proactively before audit or enforcement.

Read more about South Carolina’s Voluntary Disclosure Program. 

How Eisen Helps You Stay Compliant in South Carolina

Eisen’s platform brings automation and clarity to South Carolina compliance, helping you stay audit-ready with less manual effort:

• Escheatment Manager – Tracks dormancy timelines, flags reportable property, and generates state-compliant reports.
• Outreach Manager – Automates due diligence mailings, archives communications, and improves owner reunification rates.
• Disbursement Manager – Facilitates secure refunds and disbursements (ACH, check, wire) with full audit traceability.

Our services integrate seamlessly with your workflows, ensuring compliance with state requirements while minimizing administrative strain.

Turn South Carolina Compliance Into a Strategic Advantage

Compliance with South Carolina’s unclaimed property laws is more than meeting deadlines—it’s about protecting your brand and honoring your obligation to customers. Eisen’s solutions give you the clarity, automation, and support to turn escheatment into a proactive strategy that reduces risk and builds trust.

Explore our escheatment services to learn how Eisen can strengthen your unclaimed property operations in South Carolina and nationwide. Managing escheatment in multiple states? See our complete guide on escheatment laws by state.