The contents of a drilled safe deposit box are deemed to be abandoned property if not claimed within a set time for each state. The abandoned property is escheated to the state after a set time period.
See Escheated Accounts - Unclaimed Property for more information. Also, see Florida, Georgia, or Alabama unclaimed property websites for more information.
| State | Escheatment Period |
|---|---|
| Alabama | 3 years |
| Florida | 3 years |
| Georgia | 2 years |
Instructions for disposal of the abandoned property will be provided via email on an annual basis. When notified, check for abandoned contents of drilled boxes that meet the time frame for escheatment. Do the following:
- Access the bank safe deposit box for contents of drilled boxes under dual control.
- Review the drill date on the drilled contents Inventory List to identify contents that meet the time frame for escheatment. See Escheatment period chart above.
- Send the contents with a copy of the Inventory List and a copy of the Safe Deposit Box contract to Retail Support in the manner specified in the e-mail to the associate named in the e-mail.
- Place the safe deposit box contract file with the daily work for imaging at the time the contents are sent to Retail Support.