UCP Holders and Locator FAQs

Holder Questions 

  • Where can I upload Holder Reports and make electronic payments?

    Georgia’s online module is a secure site for holders to submit electronic files and make payments. First-time users will need to register.  Please click the link below:

    https://gareporting.unclaimedproperty.com/

  • May I donate Unclaimed Property to a charity rather than escheating it to the state?

    No, most unclaimed property cannot be donated, and must be escheated to the Unclaimed Property Program. The only exception is dividends or capital credits which may be donated by an EMC under certain circumstances.  See OCG 44-12-236 for details.

  • Can I email my Holder Report?

    No, however you can submit them through our secure online portal.

  • How do I perform due diligence?

    "Due diligence" means, but shall not be limited to, the mailing of a letter by first-class mail to the last known address of the owner as indicated on the records of the holder.  Letters do not have to be certified.

  • Does Georgia have a Business to Business Exemption?

    No.

  • When are Holder Reports Due?

    Holder reports are due on November 1st for all holders except insurance companies. Insurance companies must report by May 1st. 

  • Is there a minimum amount that is reportable?

    No. There is no reporting exemption based on a minimum amount.

  • Where can I find Holder Reporting Forms?

    The property codes with dormancy periods are available on our website.

     

  • When does the dormancy period begin?

    The dormancy period begins on the last day the owner shows interest or awareness of the property.

  • I have no property to report, am I still required to file a report?

    Yes, holders are required to file a negative report with the Georgia Unclaimed Property Program.  You may file a negative report online.

  • Do I have to report properties under $50?

    Yes, you must report and remit all properties to the State of Georgia. 

  • Can I request an extension for filing my Unclaimed Property Report?

    Yes, please send your request by email to: [email protected].
    Please include your EIN, business name, reason for extension and expected filing date.         

Locator Questions

  • What is a locator?

    Third-party "finders" or "locators" are individuals or businesses, not affiliated with the Georgia Unclaimed Property Program, that attempt to find unclaimed property owners and collect a fee for assisting them with the recovery of their unclaimed property.

    Please note: Owners do not need to utilize a “locator” to recover unclaimed property.  A claimant may reclaim property directly from the Unclaimed Property Section free of any fees.
     

  • Is there a limit to the fees locators can charge for recovery assistance?

    Yes, fees charged to assist in the recovery of an unclaimed account cannot exceed 10%.

  • Are there any laws regarding asset recovery services in Georgia?

    Yes. O.C.G.A. §44-12-224 imposes the following restrictions on locators?

    1. Agreements to pay compensation to assist in the recovery of unclaimed accounts are unenforceable until the account has been in the state’s possession for 24 months. 
    2. Fees charged to assist in the recovery of an unclaimed account cannot exceed 10%.
    3. Payments for unclaimed accounts are made directly to the owner. “Powers of Attorney” from asset recovery services are not recognized.
  • Can a check for unclaimed property be made payable to a locator?

    No, all funds or property must be paid or delivered directly to the owner and may not be paid or delivered to the locator whether pursuant to a validly-executed power of attorney or not.

  • Will the state notify a locator when a check is mailed to their client?

    UCP staff can disclose claim information to entities who are named in validly-executed POAs via telephone or email. However, due to system limitations we cannot provide automatic status updates to more than one party. Automatic updates will be limited to the actual owners when those owners are being represented by locator companies, even if the locator holds a validly-executed Download this pdf file. UP-1061 .

  • Will the state issue a separate check for unclaimed property to a locator?

    No, all funds or property must be paid or delivered directly to the owner and may not be paid or delivered to the locator whether pursuant to a validly-executed power of attorney or not.

  • Must I obtain a private investigator license to be a locator in Georgia?

    No, it is not required. Contact the Secretary of State’s Private Investigator’s Licensing Unit to ensure compliance with Georgia’s laws in this area.

  • What assurances do locators have that they will receive their fee once the claimant receives payment?

    Locator’s rights of recourse are matters they should discuss with their attorney.

More Unclaimed Property FAQs