What is unclaimed property?

All intangible property unclaimed by its owner for a specific period of time, called the dormancy period. Unclaimed property may include dormant savings and checking accounts, unclaimed wages, dividends, credit balances and any type of outstanding checks. (For a more detailed list click here).

Tangible property may include contents of safe deposit boxes or items left in safekeeping.

Who is a holder?

All business entities with two or more individuals doing business in Kentucky.

Why does Kentucky have an unclaimed property law?

To protect the property rights of the owner and to reunite the owner with the property; to relieve the holders of the expense and liability of carrying the property; and to provide a centralized search location for citizens.

Is there a minimum amount?

No. Businesses must report all unclaimed property, no matter how small, except for wages less than $50. The Kentucky State Treasurer safeguards the property forever.

How can Kentucky citizens find their lost property?

Call a business that may be holding it or the Kentucky State Treasury, and ask if we are holding property for you, or conduct your own search on our Unclaimed Property Main Page.

Does Kentucky have an amnesty program for companies who should have reported unclaimed property but didn't?

While we do not have a formal amnesty program in effect at this time, Treasurer Miller's goal is to promote voluntary compliance with the law. Holders who voluntarily come forward and report unclaimed property and remit past sums will not be assessed a penalty.

What does the state require for notification to the owner?

The holder must send written notice to the owner at the owner's last known address if the property is valued at $100 or more.

What happens if a holder does NOT report unclaimed property?

A holder who fails to report, pay or deliver property within the time prescribed by law will be subject to all penalties under KRS 393. Nonfilers may be subject to audit.

What attempts are made by the holder and the state to find the rightful owner?

The first attempt to locate the owner is made by the holder. A notice is mailed to the owner's last known address.

Once the property has been reported to the state, the State Treasurer searches for the owner by publishing ads in the treasury.ky.govpapers.

The Kentucky State Treasurer uses other outreach opportunities including the Internet, fairs, media, state conventions and malls to locate owners. City, county and state public officials are also important parts of owner outreach.

The Kentucky State Treasurer serves as the custodian until the property is claimed.

Interest bearing accounts should be placed in accounts listed in the owner's (depositor's) name, assignable to the Commonwealth of Kentucky, Kentucky State Treasury, and must earn the same rate of interest as the contract rate for the predecessor account with no fees assessed against the accounts.