What are the due diligence requirements?
No more than one hundred twenty days before the holder files their report, the holder must send a written notice to the apparent owner that states that the holder is in possession of the which has been deemed abandoned and will be remitted to the state as unclaimed if the owner apparent owner does not reply. Due diligence notices need only be sent for accounts of $50 or more and do not need to be sent to those owners for whom the address on the holder’s records has been proven to be incorrect. Sample Due Diligence Letter (17k .pdf).
