Administrative Guide to State Government Page 1 of 2
Procedure: 1240.01 Transfer of Dormant or Abandoned Property to Michigan
Unclaimed Property
State of Michigan
Administrative Guide to State Government
1240.01 Transfer of Dormant or Abandoned Property to Michigan
Unclaimed Property
Issued: January 1, 1994
Revised: January 12, 2018
PURPOSE
To provide guidelines for annually reporting and transferring dormant or abandoned
funds to Treasury, Unclaimed Property.
APPLICATION
Executive Branch Departments and Sub-units.
CONTACT AGENCY
Department of Treasury
Unclaimed Property
Telephone: 517-636-6940
Fax: 517-322-5986
SUMMARY
Pursuant to Statute (Public Act 29 of 1995), Holders of dormant or abandoned funds
must divest themselves of responsibility and accountability for such property by
transferring such property to Michigan Unclaimed Property, Department of Treasury.
APPLICABLE FORMS
Form 2011 Michigan Holder Transmittal for Annual Report of Unclaimed Property
PROCEDURES
Agency
• Maintains record of dormant or abandoned property, which must include:
o Description of the item/property.
o Name of owner or owners.
o Last known address of owner or owners.
o Social Security Number/Federal Employer Identification Number (if
known).
o Date property was declared abandoned, (i.e., last activity date).
o Property amount.
• Sends out due diligence letter or affidavits 60 to 365 days prior to escheating
property.
Administrative Guide to State Government Page 2 of 2
Procedure: 1240.01 Transfer of Dormant or Abandoned Property to Michigan
Unclaimed Property
Annually
• Transfers property held 1 year, as of March 31
st
of the current year, to
custody of Treasury, Unclaimed Property.
• Prepares Form 2011 Michigan Holder Transmittal for Annual Report of
Unclaimed Property together with an electronic FTP file. The FTP file
should contain the following for each item/property being escheated:
o Name of owner or owners.
o Last known address of owner or owners.
o Social Security Number/Federal Employer Identification Number (if
known).
o Type of property.
o Date of last activity.
o Amount of property
o Note: Agency should review the Holder Manual available on
Treasury’s Unclaimed Property website for the most current forms
and reporting instructions.
o Performs due diligence 60 to 365 days prior to escheating the
property.
o Escheats items/property that have reached its 1 year dormancy
period as of March 31
st
of the current year.
▪ Items/property include amounts for undeliverable and
uncashed vendor and payroll warrants, income tax warrants,
EBT (electronic benefits transfer) benefits, Child Support
payments, and MDOC prisoner accounts.
• Remits funds related to the Holder Report through the state’s SIGMA
accounting system to the Escheats Fund.
• Submits completed Form 2011 Michigan Holder Transmittal for Annual
Report of Unclaimed Property and a copy of the associated Journal
Voucher (JV) to [email protected].
• Submits file to Unclaimed Property via secure FTP transfer.
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