CA Remit Report Deadline; New Voluntary Compliance Program

California State Controller Malia Cohen’s office (the Unclaimed Property Division) announced that holder remit reports are due between June 1 and June 15.

Here are the required materials:

• Signed Universal Face Sheet (UFS-1 Form) with updated contact information and remit totals.
• Updated property owner details .hde
• Signed Holder Remit Reminder Letter (14F).
• Remittance (use electronic funds transfer — EFT — for $2,000 and higher).
• Submit online via the reporting portal between June 1-15.

Reminder: Do not submit via email (the UPD report upload email address has been decommissioned). Submit the remit report only once using our online reporting portal. Be sure to include social security numbers in property owner details.

If you have not received a Holder Remit Reminder Letter (14F) by March, contact the SCO Outreach and Compliance Unit (OCU) at UPDHolderOutreach@sco.ca.gov or call 916-464-6088.

New Program: Voluntary Compliance Program
The California State Controller office’s Unclaimed Property Division (UPD) has also announced the Voluntary Compliance Program (VCP).

The VCP, implemented in response to the passage of Assembly Bill 2280, provides holders of past-due unclaimed property an opportunity to establish compliance with California’s Unclaimed Property Law. If you are holding unclaimed property that has not been reported, you may qualify for a waived interest assessment.

Approved and enrolled holders that fulfill all program requirements, including completing a training program and meeting reporting deadlines, will be eligible for waived interest on past-due unclaimed property reported under the program.

For more information, fill out a VCP Interest Form.