OREGON’S 2024 UNCLAIMED PROPERTY REPORTING SEASON IS NOW OPEN IT’S VOLUNTARY Oregon law requires businesses and other organizations to report and remit unclaimed property when certain conditions are met. Failure to comply with these laws can result in penalties up to $50,000 and interest for late reporting. YOU CAN KEEP THE UNCLAIMED PROPERTY AS REVENUE Some may believe that when property goes unclaimed, they can keep it as revenue. That is inaccurate. Unclaimed property belongs to their owners forever. It is the state’s responsibility to hold it for them until they can claim it. IT’S A ONE-TIME PROCESS Unclaimed property reporting is an annual legal requirement. Businesses and other organizations must regularly review their records and report their unclaimed property by November 1st every year. TO LEARN MORE VISIT UNCLAIMED.OREGON.GOV COMMON MYTHS ABOUT UNCLAIMED PROPERTY REPORTING Does Your Business Know Its Obligations? Stay Informed. Report. Avoid Penalties.
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