California Postpones Unclaimed Property Reporting Deadlines Due to COVID-19
The California State Controller’s Office released a notice yesterday informing companies that final due date for holders to submit their Remit Report and remittances for properties reported on 2019 Notice Reports has been postponed due to the COVID-19 pandemic.
The notice provided that Controller Yee postponed the final unclaimed property Remit Report and remittance due date as authorized under Code of Civil Procedure section 1532. The extension results in the following:
- The June 1 – 15 period for holders to submit their reports and remittances for properties reported on 2019 Notice Reports is extended from June 1, 2020, to August 15, 2020.
The notice further states that holders or agents of holders who are able to submit their Remit Reports and remittances during the original reporting period of June 1 – 15, 2020, are encouraged to do so, and that the Unclaimed Property Division is continuing to process unclaimed property reports and claims.
If you have any questions, the notice directs companies to contact the Outreach and Compliance Unit at firstname.lastname@example.org.
Please reach out to any member of the True Partners Unclaimed Property Management Team if you have any questions about this or any other developments likely to impact your company.
True Partners will continue to monitor jurisdictional updates and intends to release further True Alerts as additional information becomes available. True Partners Consulting LLC assumes no responsibility for updating this summary with any future changes made by any jurisdiction(s). As information may change rapidly in the current environment, relevant jurisdictional statutes and websites should be reviewed at the time of reporting to determine the current and relevant application of information and requirements to your company’s specific facts.