Abandoned Property Dormancy Periods in Georgia

Each state has rules that specify the amount of time that must elapse before unclaimed property is considered to be abandoned. The amount of time varies with the type of property. The chart below specifies the time period for various classes of property.

Property Type Presumed Abandoned After
Bank account five years
Checks or drafts five years
Demutualization proceeds no specific provision
Gift certificates, gift cards, and credit memos five years
Insurance policies Property, casualty, and medical policies: five years
Life or annuity policies: five years.
The presumed maturity of an insurance policy is two years.
IRAs or retirement funds Employee benefit trust distributions: five years.
Money orders seven years
Other intangible personal property not otherwise specified five years
Proceeds from class action suits no specific provision
Property distributable by a business association in the course of dissolution six months after the date specified 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 five years 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).
Property held by courts or public agencies five years
Property held by fiduciaries five years
Safe deposit boxes three years
Shares in a financial institution five years
Stocks, dividends, and distributions five years
Traveler's checks 15 years
Deposits and advances owed utility company customer five years
Wages or salaries one year

Related Resources

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