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How to Report Unclaimed Property

Due Diligence Letters

Idaho’s Unclaimed Property Law, Section 14-517 requires that all businesses try to locate owners prior to reporting their funds to the Idaho Unclaimed Property Program. Written notices must be sent to owners within 120 days before filing the unclaimed property report. These notices, often called "Due Diligence Letters," should identify the owner’s property and inform the owner that his property may be turned over to the Idaho Unclaimed Property Program due to inactivity. A sample due diligence letter is below.

Owner Name
Address
City, State Zip

Dear Owner Name:

On [date], we issued to you check number [####] in the amount of [$$$$] for [Give the reason the check was issued, if known]. As of this date, our records indicate that this check has not been cashed. If you are unable to locate this check, please mark the appropriate box below and return this letter so that we may correct the situation.

[ ]  The check has been lost. Please reissue and send it to the address below.

[ ]  The check was cashed on ____________ [date, if known].

[ ]  The replacement check was received and cashed on ___ [date].

Please Print:

Your name:  ____________________________________
Current address: ____________________________________
City, State Zip: ____________________________________
Phone number: ____________________________________
Signature: ____________________________________
Date: ____________________________________

If we do not hear from you by [date], the law requires us to submit this property to the Idaho Unclaimed Property Program. After that date, you may contact them.

Sincerely,


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