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.
Our team of experts is seasoned in the VCP process and ready to help inform your team and guide you through the process of the California VCP and can assist with similar programs in other states.
TECHNICAL INFORMATION CONTACTS:
Mark A. Paolillo
Principal
Ryan
857.288.1976
mark.paolillo@ryan.com
Susan Han
Principal
Ryan
442.244.2447
susan.han@ryan.com
Jeff Henshall
Principal
Ryan
404.682.1200
jeff.henshall@ryan.com
Christopher Jensen
Principal
Ryan
469.399.4142
christopher.jensen@ryan.com
Julia Killinger-Colbus
Principal
Ryan
410.568.0800
julia.killinger-colbus@ryan.com
Jeffrey Pickel
Principal
Ryan
617.699.3723
jeff.pickel@ryan.com
Sonja Roman-Molina
Principal
Ryan
954.740.6240
sonja.roman@ryan.com
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. For additional information about this topic, please contact us at info@ryan.com.