Difference between revisions of "Escheat in New Jersey"
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Latest revision as of 14:25, 28 June 2019
Contents
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/
