California Outreach for Unclaimed Property Voluntary Compliance Program

The Unclaimed Property Division of California’s State Controller’s Office (SCO) will be contacting holders of unclaimed property by mail about the state’s unclaimed property voluntary compliance program (VCP). Under this program, eligible participants can receive interest waivers for complying with past-due unclaimed property remittance obligations. Statutory interest for past-due unclaimed property in California is 12% per annum, so this may be a significant benefit to some holders.

In November 2025, as part of a new outreach and education program, the SCO will start sending letters to holders intending to raise awareness of the state’s VCP. In addition to the interest waiver, the VCP allows participant holders to become fully compliant with the state’s unclaimed property compliance obligations. Initial mailings will target approximately 4,000 large potential holders of unclaimed property, with follow-up letters anticipated for non-respondents. Additional mailings will be sent out to new groups of holders throughout 2026.

The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals.