If you are holding property valued at $100 or more per person, you must send a notice to the apparent owner three to six months before you submit an unclaimed property report to the Director. Refer to section 7 of the Unclaimed Property Act and section 7 of Rule UP-001 Unclaimed Property – General for details on the content and delivery requirements.
A sample notice can be found on our Resources page at FundsFinderNB.ca. It is provided as a guide only.
Can the notice to an apparent owner be sent electronically?
Yes. If you have an email address for the owner, you may use it to send the notice. If you have both an electronic address and a postal address, you may choose which method to use first and use the alternative if you don’t receive a response from the first method. Refer to section 7 of the Rule UP-001 Unclaimed Property – General.
Do I need to send a notice if I know the address in the owner’s file is incorrect?
No. You do not have to send the notice when you have reasonable grounds to believe the address is incorrect and are unable to find the correct address.
Do I need to send a notice to an owner for a small amount of unclaimed property?
If the value of the unclaimed property is less than $100, you do not need to send a notice.