What happens to out-of-date shareholder accounts?
If shareholders do not keep their address of record current, dividend, Form 1099-DIV and other notices cannot be delivered. If dividend checks are not cashed and there has not been any contact with Equifax or its transfer agent for a certain number of years depending on the state of last known residence, those dividends and shares can be considered abandoned property. The state of last known residence can claim the uncashed dividends and shares. In order to reclaim the dividends and shares, the shareholder must file a claim with the state holding dividends and/or shares. Because this can be a lengthy process, it is vital that the Company always have a correct, current address for each shareholder of record.
