State Controller’s Office Unclaimed Property Participation in the Interagency Intercept Program

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Purpose of Bulletin

To inform staff that on January 1, 2013, the State Controller’s Office (SCO) expanded the Interagency Intercept Collection (IIC) program to allow unclaimed property payments to be intercepted by cities and counties to pay delinquent debts.

Background

Corporations, business associations, financial institutions, and insurance companies annually report and deliver unclaimed property to the SCO after no customer contact for three years.

The state acquires this unclaimed property through California’s Unclaimed Property Law. Individuals who learn that they have unclaimed property assets can submit a claim for those assets. Once the claim is verified by the Unclaimed Property Division, the division submits the individual’s name to the IIC Program.

If the individual has an intercept request from any state agency, university, city or county, we intercept the funds up to the amount of the debt, and submits them to the requesting agency. Any remaining funds are distributed to the individual by SCO.

Offset Notice

Once an intercept occurs, taxpayer information system (TI) sends an intercept letter to the individual with the date and amount of the intercept, as well as contact information for the intercepting agency.

Taxpayer Inquiries

Direct taxpayers to the intercepting agency listed on the account in TI. To locate the intercepting agency information, enter ** on the TI command line.

Direct media contacts to:

  • Public Affairs at 916.845.4800

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