What is the procedure for escheating unclaimed property?
The automated unclaimed property processing in JIS is available each year starting July 1st. The escheat process should be completed before November 1st, per the Department of Revenue's (DOR) timeline.
Significant changes were made to the unclaimed property process effective July 1, 2016. The Washington Department of Revenue (DOR) requires that courts and county clerks use electronic reporting and electronic funds transfer/deposit for unclaimed property. The statutory authority for this is RCW 63.29.170 5(a) "Beginning July 1, 2016, reports due under this section [report of abandoned property] must be filed electronically in a form or manner provided or authorized by the department."
The DOR website has all the required information for courts to use for reporting unclaimed property and submitting funds. This website contains detailed information on how to file/submit reports and provides links for additional background and instructions under Holder Education.
- Courts will still use the existing Judicial Information System (JIS) or Odyssey escheatment processes, but the reporting of unclaimed property and submission of funds to DOR must be done electronically.
- JIS courts will still need to follow Unclaimed Property processing procedures in JIS to clear unclaimed property funds from JIS. That process will produce a check that will then need to be handled in a way that the funds can be electronically transferred to DOR.
The Unclaimed Property sections of the online manuals have been updated to reflect the electronic filing requirement:
- Unclaimed Property - Courts of Limited Jurisdiction
https://help.courts.wa.gov/JIS/manuals/Unclaimed_Property/unclmop.htm - Unclaimed Property - Superior Courts (JIS)
https://help.courts.wa.gov/JIS/manuals/Unclaimed_Property/Jjounclm.htm - The Odyssey Financial Manual update is in process. (Sign up to be notified when this link is updated.)
https://help.courts.wa.gov/pdf/Odyssey%20Financial%20Manual.pdf
NOTE: You must be logged into eService Center's My Stuff page in order to see the "Notify Me" hyperlink, so the program knows who to notify.
RN id: 1250