Escheat in New Jersey

Overview

Sources

N.J.S.A.46:30B

Recipient Office

New Jersey Dept. of the Treasury

Reporting

Time Period: 3
Due Diligence Amount: 50
Due Diligence Dates: Not more than 120 days and not less 60 day prior to report (CMRRR)
Aggregate Amount: 49.99
Report Period: 7/1-6/30
Report Due Date: 10/31
Negative Reporting: Yes-if incorporated in NJ or have business presence in NJ

Dormancy Fee

Only if (1) there is a valid and enforceable contract with the owner pursuant to which the holder may impose the charge, (2) the holder regularly imposes charges on all dormant accounts and does not reverse or otherwise cancel the charges, and (3) for property in excess of $2.00 the holder gives written notice to the owner at the owner's last known address no more than three months before imposing the charge. The amount must not be unconscionable. Also, no additional charges shall be assessed as a result of escheatment of the property.

Web Site

http://www.unclaimedproperty.nj.gov/