Florida

Florida’s unclaimed property program is managed by the Department of Financial Services (DFS) under Chapter 717 of the Florida Statutes. Whether you're dealing with dormant accounts or uncashed checks, compliance requires a proactive, accurate, and timely approach.

Overview of Florida’s Unclaimed Property Law

The Florida Disposition of Unclaimed Property Act requires businesses and institutions, also known as “holders,” to report specific types of property that have remained unclaimed for a designated period of time. This may include:

• Checking and savings accounts
• Uncashed payroll or vendor checks
• Life insurance proceeds
• Securities and dividends
• Safe deposit box contents

Once the dormancy period ends, holders must attempt to contact the property owner (due diligence) and submit a report to the state.

Florida Dormancy Periods

Understanding dormancy timelines is key to timely reporting. Dormancy periods vary based on property type. Below are the most common timelines and corresponding NAUPA codes:

Note: Certain gift certificates are exempt under Florida law. Always check with DFS for the most up-to-date regulations.

Due Diligence Requirements in Florida

Before submitting your report, Florida law requires holders to make a good faith effort to locate the property owner. This step helps reunite customers with their assets and protects your institution from unnecessary liability.

Before reporting unclaimed property, Florida law requires holders to make a good-faith effort to contact the rightful owner.

Minimum requirements include:

• Sending a first-class mail notice to the owner’s last known address no more than 120 days and no fewer than 60 days before the report deadline, for any property valued at $50 or more.
• While not required, additional outreach (such as email or phone) is encouraged and helps demonstrate good-faith compliance in audits.

Florida Reporting Deadlines and Requirements

Florida follows a clear and consistent reporting calendar:

• Report Period: January 1 to December 31
• Deadline to File and Remit: April 30 of the following year

Reports must be filed electronically using the Florida DFS Reporting Portal in NAUPA format. Negative reports (also called zero reports) are required even when no unclaimed property is held.

Florida requires:

• Obtaining a Unclaimed Property Identification Number (UPID)
• Electronic filing through the DFS Reporting Portal in NAUPA format
• Remittance by ACH debit, wire transfer, or check
• Pre-approval for transfer of securities, when applicable

Florida’s Voluntary Disclosure Program

Fallen behind? Florida offers a Voluntary Disclosure Agreement (VDA) program that allows businesses to come into compliance without penalties.

The program typically includes a 3-month review window, with extensions available upon request. It’s an excellent opportunity for businesses to clear past-due obligations before enforcement action begins.

How Eisen Helps You Stay Compliant in Florida

At Eisen, we make the Florida escheatment process simpler, faster, and more reliable. Our tools streamline every step of the process - from identifying dormant assets to submitting final reports. 

• Escheatment Manager: Automatically identifies eligible property, tracks dormancy periods, and generates Florida-ready reports.
• Outreach Manager: Ensures due diligence notices are sent on time and helps increase successful owner recontacts.‍
• Disbursement Manager: Manages secure, auditable payments via checks, ACH, and wire transfers.

Turn Florida Compliance Into a Strength

Staying compliant with Florida’s escheatment laws doesn’t have to be burdensome. With Eisen, you can reduce risk, avoid penalties, and deliver a better experience for your customers, all while staying audit-ready.