Abandoned Property Dormancy Periods in Ohio

Business Finance

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	customer credit memos: three years gift certificates, gift cards, and customer credits that are redeemable only for merchandise are exempt from unclaimed property reporting requirements
Insurance policies	Life or annuity policies: three years The presumed maturity of an insurance policy is three years
IRAs or retirement funds	IRAs and qualified retirement plan funds: three years Funds owed under pensions or profit sharing plans: one year
Money orders	seven years
Other intangible personal property not otherwise specified	advances and security for rents or leases, funds owed to suppliers, royalties, and oil and mineral proceeds: one year Excess proceeds from the sale of items in a storage facility: two years Other property, including amounts paid on unclaimed lay-aways: three years
Proceeds from class action suits	no specific provision
Property distributable by a business association in the course of dissolution	one year
Property held by courts or public agencies	three years
Property held by fiduciaries	escrow funds and security deposits with licensed brokers: two years Other property: three years
Safe deposit boxes	three years
Shares in a financial institution	five years
Stocks, dividends, and distributions	five years Includes automatic dividend reinvestment plans
Traveler's checks	15 years
Deposits and advances owed utility company customer	deposits, refunds, and advances: one year
Wages or salaries	securities broker commissions: five years Other wages or salaries: one year