West Virginia

The West Virginia Uniform Unclaimed Property Act, administered by the West Virginia State Treasurer’s Office, governs how businesses (“holders”) must report and remit unclaimed property. From dormant accounts to uncashed checks, compliance requires accurate recordkeeping, timely reporting, and proactive outreach.

Overview of West Virginia’s Unclaimed Property Law

West Virginia law requires holders—including financial institutions, utilities, insurers, and other businesses—to report and remit property that has remained unclaimed after a defined period of inactivity.

Common reportable property types include:

• Checking and savings accounts
• Uncashed payroll or vendor checks
• Utility deposits and refunds
• Insurance proceeds and annuities
• Dividends, stocks, and mutual funds
• Contents of safe deposit boxes

Once property meets its dormancy threshold, holders must make a good-faith effort to locate the rightful owner before reporting and remitting the property to the State Treasurer’s Office.

West Virginia Dormancy Periods

Dormancy periods define how long property must remain inactive before it is considered unclaimed. Below are common timelines for West Virginia:

Due Diligence Requirements in West Virginia

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

Key requirements include:

• Mail notice: Send by first-class mail to the owner’s last known address for property valued at $50 or more, at least 60 days and no more than 120 days prior to the report deadline.
• Recordkeeping: Retain documentation of due diligence efforts, as it may be required during an audit.
• Best practice: While not mandatory, supplemental outreach—such as email or phone calls—can improve recontact rates and demonstrate a stronger compliance posture.

West Virginia Reporting Deadlines and Requirements

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

Life 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 filed electronically in NAUPA II format 
• Submission: Via the West Virginia State Treasurer’s reporting portal.
• Negative Reports: Encouraged but not required, if no unclaimed property is due.
• Remittance: Accepted via ACH or Check.

Read more on West Virginia’s Reporting Guidelines page.

West Virginia’s Voluntary Compliance Program

Holders that have fallen behind may use West Virginia’s Voluntary Compliance Agreement (VCA) program to come into compliance without penalties or interest.

Program benefits:

• Waiver of penalties and interest for voluntarily disclosed property.
• Cooperative framework with the State Treasurer’s Office to self-audit historical obligations.
• Structured remediation timeline to address gaps before enforcement actions.

How Eisen Helps You Stay Compliant in West Virginia

Eisen simplifies West Virginia compliance with tools and services designed to reduce manual effort, increase accuracy, and enhance audit readiness.

• Escheatment Manager: Tracks dormancy periods, flags eligible property, and generates West Virginia-compliant reports.
• Outreach Manager: Automates due diligence notices to ensure timely and well-documented outreach efforts.
• Disbursement Manager: Provides secure, auditable payment solutions (ACH, check, wire) to reduce reportable liabilities.

Eisen also supports specialized compliance needs for sectors such as investment accounts, retirement accounts, and utilities.

Turn West Virginia Compliance Into an Operational Strength

Compliance in West Virginia isn’t just a regulatory box to check. It’s an opportunity to reinforce trust with customers and strengthen your organization’s operational resilience. With Eisen as your partner, you can transform escheatment obligations into a proactive process that reduces risk, improves customer relationships, and positions your organization for long-term success.

Managing compliance and reporting in multiple states? Explore our complete guide to escheatment laws by state. Discover how Eisen’s escheatment services can streamline your unclaimed property operations in West Virginia and nationwide.