DC Government Unclaimed Property Law

Under this law (DC Law 3-160), any share accounts with no activity for three years must be surrendered to the DC Government as abandoned property.  IRA’s are excluded from this law. All financial institutions must comply with the law. Earning quarterly dividends does not count as activity that keeps the share accounts active.

It only takes a single transaction every other year to prevent this action. (OR) You can send us a letter or email stating you want to keep your account active (please include your address and account number).