This month, Treasury’s Unclaimed Property Program kicked off its 2023 education season. Businesses, nonprofit organizations, and governmental entities are invited to attend an upcoming seminar to learn about unclaimed property, how to identify and report it, and what’s new this year.

Most businesses have unclaimed property, but not all know about how to calculate and report it. Common types of unclaimed property include uncashed checks, customer credits, inactive bank accounts, and unapplied deposits.

When organizations hold an asset for someone else and lose touch with the owners, Oregon state law requires organizations to send those assets to Oregon State Treasury to hold in trust for the owner.

To help organizations comply with unclaimed property laws, every year, Treasury’s Unclaimed Property Program offers free training seminars between May and August. These specialized sessions are designed for current unclaimed property reporters and for new reporters alike.

To learn more about this year’s seminars and schedule, visit the Holder Education webpage on the Treasury website and continue reading below.

Content at each session is identical and includes:

• Unclaimed Property overview

• Preparing your report: when, what, where and how

• Common property types

• Recommendations for maintaining and updating your potential unclaimed items

• Internal control basics

• Due diligence and owner contact

• IRAs and similar retirement or special-purpose accounts

• Abandoned safe deposit boxes

• Record keeping requirements

• What to do if you get contacted or pay an owner after reporting

This year’s seminar schedule and related details are provided below.