Abandoned Property Dormancy Periods in Alaska

Business Finance

Property Type	Presumed Abandoned After
Bank account	five years A demand, savings, or matured time deposit with a banking or financial organization is not presumed abandoned if the owner did one of the following within the preceding five years: in the case of a deposit, increased or decreased the amount in the account or presented the passbook or other similar evidence of the deposit for the crediting of interest; communicated in writing with the banking or financial organization concerning the property; or otherwise indicated an interest in the property as evidenced by a memorandum or other record, on file, prepared by an employee of the banking or financial organization.
Property distributable by a business association in the course of dissolution	one year after the date set for final distribution Money that a business association has been ordered by the court or administrative agency to refund is presumed abandoned if it remains unclaimed by the owner for more than one year after it became payable in accordance with the final determination or order providing for the refund (regardless of whether the final determination or order requires the owner to make a claim for it).
Checks or drafts	five years after they are payable or after their issuance if payable on demand. The presumption of abandonment does not apply if the owner, within the preceding five years, has communicated in writing with the banking or financial organization concerning the instrument or has otherwise indicated an interest in the instrument (as evidenced by a memorandum or other record, on file, prepared by an employee of the organization).
Demutualization proceeds	two years
Gift certificates, gift cards, and credit memos	three years Gift cards that are not purchased are exempt from reporting requirements.
Insurance policies	Life or annuity policies: three years
IRAs or retirement funds	no specific provision
Money orders	seven years
Other intangible personal property not otherwise specified	three years
Proceeds from class action suits	no specific provision
Property held by courts or public agencies	one year
Property held by fiduciaries	three years
Safe deposit boxes	one year
Shares in a financial institution	five years
Stocks, dividends, and distributions	five years Includes net margins from a cooperative.
Traveler's checks	15 years
Deposits and advances owed utility company customer	one year
Wages or salaries	one year