Washington

The Washington Department of Revenue (DOR) administers the state’s unclaimed property program under RCW Chapter 63.29 (Uniform Unclaimed Property Act). From identifying dormant accounts to managing uncashed disbursements, compliance hinges on accurate recordkeeping, timely reporting, and effective owner outreach.

Overview of Washington’s Unclaimed Property Law

Washington law requires holders—including businesses, financial institutions, utilities, insurers, and government agencies—to report and remit unclaimed property after the applicable dormancy period has lapsed.

Common reportable property types include:

• Checking and savings accounts
• Uncashed payroll and vendor checks
• Insurance policy proceeds
• Stocks, dividends, and mutual funds
• Utility refunds and credit balances
• Contents of safe deposit boxes

Once property meets the dormancy threshold, holders must make a good-faith effort to contact the owner before remitting the property to the state.

Washington Dormancy Periods

Dormancy periods in Washington vary by property type. Below are common timelines:

Due Diligence Requirements in Washington

Before reporting, holders must make a good-faith effort to contact apparent owners to reduce unnecessary escheatment.

Key requirements include:

• Mail notice: Send a first-class letter to the owner’s last known address for property valued at $50 or more, between 60 and 180 days prior to the report submission deadline.
• Notice content: Include clear instructions on how the owner can claim their property.‍
• Best practice: Although not required, supplemental outreach—such as follow-up letters, email, or digital notices—can improve recontact rates and support a strong audit defense.

Washington Reporting Deadlines and Requirements

Virginia follows an annual reporting cycle with specific timelines for different holder types:

Insurance Companies:

• Report Period: January 1 - December 31
• Report and Payment Deadline: April 30

All Other Businesses:

• Report Period: July 1 - June 30
• Report and Payment Deadline: October 31

Additional requirements:

• Format: Reports must be submitted electronically in NAUPA II format.
• Submission: Via the Virginia Treasury’s Portal.
• Negative Reports: Not required, when no unclaimed property exists.
• Remittance: Accepted via ACH, Wire Transfer, or Check.

Read more on Washington’s Holder Reporting FAQ page.

Washington’s Voluntary Compliance Program

Holders that have missed reporting deadlines may participate in Washington’s Voluntary Compliance Agreement (VCA) program to come into compliance without facing penalties or interest.

Program benefits:

• Waiver of penalties and interest for voluntarily disclosed property.
• Opportunity for self-review and structured remediation of past-due reports.
• Improved compliance posture ahead of potential audits.

How Eisen Helps You Stay Compliant in Washington

Eisen simplifies Washington compliance with tools and support designed to reduce manual work, increase accuracy, and enhance audit readiness.

• Escheatment Manager: Monitors dormancy periods for each property type and generates Washington-compliant reports with automated alerts for next steps.
• Outreach Manager: Automates required due diligence notices with full audit trails and customizable templates to meet state requirements.
• Disbursement Manager: Tracks and facilitates secure, auditable disbursements (ACH, check, wire) to minimize reportable liabilities.

Eisen also supports complex use cases—such as compliance for investment accounts, healthcare providers, and utility companies—where precise reporting is essential.

Turn Washington Compliance Into an Operational Advantage

Compliance in Washington isn’t just about avoiding penalties. It’s an opportunity to strengthen operational resilience and customer trust. With Eisen’s automated tools and expert guidance, you can turn escheatment compliance into a streamlined, proactive process that reduces risk and improves audit readiness.

Discover how Eisen’s escheatment services can streamline your unclaimed property operations in Washington and across the country. Managing obligations in multiple states? Explore our complete guide to escheatment laws by state.