An inactive bank account - for example, when the account holder has moved and the financial institution has lost contact - can signal the need to re-classify those assets as State of New Hampshire unclaimed property. Homes, land, stocks, savings bonds, even gift cards can become unclaimed property. As a business owner, educate yourself on your obligations. Pay attention to regulations regarding the safekeeping of that property and proper notification to regulatory bodies.

Unclaimed property in New Hampshire laws and regulations read much like those in other states. The law details how long the property must be unaccounted for before it can be considered abandoned or unclaimed as well as the general procedure to turn over the property. Consider the following:

1. The division of unclaimed property in New Hampshire suggests businesses evaluate their records annually to determine if they are holding abandoned property.

2. Abandoned property in New Hampshire is governed by NH RSA 471C. That's the law defining abandoned property and how consumers can recover it.

3. The Unclaimed Property Act explains how the state treasurer's office must protect the unclaimed property in NH and what steps must be taken to give the property back to its rightful owner.

Action Steps
The best contacts and resources to help you get it done

Find applicable New Hampshire unclaimed property rules

Educate yourself on your responsibilities through New Hampshire government websites dealing with unclaimed property. If you still have unanswered questions about a specific type of abandoned property, contact the New Hampshire Treasurer's Office for more information.

I recommend: Check out the official site of the New Hampshire Treasurer's Office at NH.Gov and find forms, rules and other important information on abandoned property. Find the exact statute language on abandoned property through the New Hampshire General Court.

Learn the NH abandoned property rules that apply to gift certificates

Retailers may have to field questions from customers about lost gift cards or gift certificates. New Hampshire law allows a gift certificate valued at less than $100 to be issued without an expiration date. Gift cards valued at $100 or more expire in five years. After five years, those gift cards or certificates are considered abandoned property.

I recommend: For more details about the gift certificate law, check out the New Hampshire Department of Justice and NewHampshire.com.

Research federal court cases that impacted NH unclaimed property laws

Courts dealt with unclaimed property long before most modern unclaimed property laws were formed. Through those cases, both federal and state policymakers formed legislation and with that, federal and state regulatory agencies developed as well.

I recommend: Review these court cases that involve nearby states: Connecticut Mutual Life Insurance Co. v. Monroe and Delaware v. New York. These cases established a precedent and served as a backbone to the development of federal and state unclaimed property laws.

The amount and variety of unclaimed property in New Hampshire is larger than one would think. Sometimes it happens when people move and forget to reclaim their utility deposits or over-payments; other times, people may die and leave some money squirreled away in separate checking or savings accounts. Laws regarding New Hampshire unclaimed property and its reversion to the state, also known as New Hampshire escheat or escheat New Hampshire, also mean that business owners have legal obligations if they come into possession of unclaimed property.

The list of unclaimed property in NH includes, but is not limited to, stocks, checking/savings accounts, death benefits, vendor checks, over-payments, CDs, paid life insurance, uncashed checks, unpaid wages, money orders, credit balances, refunds, dividends, commissions, insurance payments, gift certificates, and customer deposits.

1. Know the laws regarding escheatment in New Hampshire and how it affects you as a business owner.

2. Search New Hampshire abandoned property to see if you have forgotten some assets.

3. Find an auction featuring abandoned property in New Hampshire.

Action Steps
The best contacts and resources to help you get it done

Know your obligations regarding NH unclaimed property

As a business owner, you're typically required to report and remit unclaimed property in New Hampshire. If someone forgets to pick up a deposit or a check, make sure you know what your legal obligations are regarding escheat New Hampshire.

I recommend: Go to the New Hampshire Treasurer's website for Holder Reporting instructions. For an outside source on NH escheat reporting requirements, try the Business Owner's Toolkit.

Search New Hampshire state unclaimed property to ensure your business hasn't left some assets behind

It may be a long shot, but why not perform a New Hampshire unclaimed property search to make sure your business doesn't have some assets floating around out there somewhere? This makes even more sense if your business has been around for a long time or it has a long string of former owners. You might be pleasantly surprised to find that one of the former owners neglected to retrieve some NH unclaimed property or even some unclaimed land in New Hampshire that still belongs to your business.

I recommend: Go to the New Hampshire Treasurer's Abandoned Property website for information on searching for and claiming abandoned property. Or search for New Hampshire unclaimed property at MissingMoney.com or CashUnclaimed.com.

Find state of New Hampshire unclaimed property at auctions

State and local governments, as well as police agencies, sometimes dispose of unclaimed properties in New Hampshire through auctions. If you like auctions, it can be a good way to save your business some money

I recommend: PropertyRoom.com auctions unclaimed and seized property from police forces in New Hampshire and elsewhere. JustAuctions and Government-Auctions-Guide.com feature unclaimed properties in NH, as well as foreclosures and seized property.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Be wary if approached by someone who wants money for information on NH abandoned property; you can get the same information on your own for free

Advice and ratings on unclaimed property in New Hampshire primarily consist of information on the best places to look for unclaimed property and the procedures to follow when making a claim. The New Hampshire government has a single department that assumes custodianship of unclaimed property for the state. County and municipal governments also may have their own unclaimed property, which may need to be turned over to the state after a period of time specified by law.

There are many commercial websites that will search for NH abandoned property on behalf of the owner. Prospective customers of these companies should use these services with caution, as they frequently offer services that the government of New Hampshire provides for free. There are three general sources for obtaining advice on New Hampshire unclaimed property:

1. Blogs on New Hampshire abandoned property. A credible blog or forum may have posts from experts on saving money, government officials or people with first-hand experience in recovering unclaimed property.
2. News articles on abandoned property in New Hampshire. Reporters and other journalists can provide unbiased advice on claiming property.
3. Government sites for unclaimed property. These sites are the best source of official advice on obtaining unclaimed property.
   

Action Steps
The best contacts and resources to help you get it done

Get advice on unclaimed property in NH from blogs

Blogs with advice on unclaimed property in New Hampshire contain posts from people who have actually recovered unclaimed property. Experts also may provide general advice on the required procedures for filing a claim for property in New Hampshire. Government officials sometimes keep blogs about recent changes in unclaimed property law in New Hampshire.

I recommend: FinanceRegs.com provides a post that ranks states on the way they handle unclaimed property, including New Hampshire. NewHampshire.com provides a recent post on unclaimed property in New Hampshire, with a specific focus on gift certificates.

Study news articles that give advice on state of New Hampshire unclaimed property

News articles provide an objective and credible source of advice on unclaimed property in New Hampshire. These articles typically offer recent facts and figures for unclaimed property in New Hampshire. They also have instructions for filing a claim and important points of contact.

I recommend: SeacoastOnline.com provides information and advice for claimants who wish to recover unclaimed property in Maine and New Hampshire. USA Today has an article on unclaimed property laws with respect to gift cards, and provides specific information about New Hampshire unclaimed property laws.

Look at official sources of advice on abandoned property in NH

Government sources provide the most current information on unclaimed property in New Hampshire. They offer advice on the proper forms and procedures to use when making a claim for unclaimed property. Government sources also may have recent updates on the laws regarding unclaimed property in New Hampshire.

I recommend: The New Hampshire Treasury provides official advice for recovering unclaimed property in New Hampshire. The City of Concord provides specific information on the disposal and return of unclaimed property in its possession.