South Dakota

The South Dakota State Treasurer’s Office – Unclaimed Property Division administers the state’s unclaimed property program under South Dakota Codified Laws Chapter 43-41B. From dormant accounts to outstanding checks, compliance requires diligent recordkeeping, timely reporting, and effective outreach.

Overview of South Dakota’s Unclaimed Property Law

South Dakota law requires businesses and organizations (“holders”) to report and remit property that has remained unclaimed for a defined dormancy period.

Reportable property types include:

• Checking and savings accounts
• Unclaimed wages and payroll checks
• Investment and retirement accounts
• Dividends, securities, and stock proceeds
• Life insurance payouts and annuities
• Safe deposit box contents

Once assets meet their dormancy threshold, holders must make good-faith efforts to locate owners before reporting to the State Treasurer.

South Dakota Dormancy Periods

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

Due Diligence Requirements in South Dakota

Before reporting, holders must attempt to contact apparent owners:

• Mail notice: Send by first-class mail to the last known address for property valued at $50 or more, no fewer than 60 days before reporting.
  
• Best practice: Supplemental outreach, such as email, phone calls, or text, improves the chance of reuniting owners with their property and supports stronger audit defense.

South Dakota Reporting Deadlines and Requirements

South Dakota 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 submitted in NAUPA II format.
• Submission: Electronic filing through the South Dakota Unclaimed Property online system.
• Remittance: Accepted via ACH Credit, Wire Transfer, and Check.
• Negative Reports: Not required, if no unclaimed property is due.

Read more on the South Dakota Unclaimed Property Reporting page.

South Dakota’s Voluntary Disclosure Program

Businesses that fall behind may participate in South Dakota’s Voluntary Disclosure Agreement (VDA) program. The VDA program is particularly helpful for companies bringing historical obligations into compliance for the first time.

Program benefits:

• Report past-due property without penalties.
• Resolve legacy compliance gaps with a clear, state-approved remediation process.
• Reduce risk of audits and related exposure.

Eligibility:

• Holder is voluntarily disclosing unreported or under-reported property.
• Holder is not currently under audit or enforcement action.

Read more on the official South Dakota Voluntary Disclosure Program page.

How Eisen Helps You Stay Compliant in South Dakota

Eisen simplifies South Dakota compliance with tools designed to cover every stage of the escheatment lifecycle:

• Escheatment Manager – Tracks dormancy, flags eligible property, and generates South Dakota-compliant reports in NAUPA format.
• Outreach Manager – Automates due diligence notices and integrates with communication channels for better owner recontacts and audit readiness.
• Disbursement Manager – Handles secure, auditable disbursements (ACH, check, wire) to reduce reportable liabilities.

We also support complex categories, such as securities and legacy dormant accounts, where accuracy and documentation matter most.

Make South Dakota Compliance a Strategic Benefit

South Dakota’s escheatment rules can be demanding, but with Eisen, compliance becomes an opportunity to reinforce operational resilience and customer trust. We help you minimize risk, streamline annual reporting, and build a consistent compliance framework across all jurisdictions.

Managing obligations in multiple states? Explore our guide to escheatment laws by state or start with our escheatment services overview.