There is no claim deadline for escheated certificates of deposit. An escheated CD is a bank time deposit the state holds after dormancy, and owners or heirs can claim it at any time.
The California State Controller's Office says it holds unclaimed money in custody until claimed in its unclaimed-property search guide. That custody rule is why an old CD does not expire with the state. The task is finding the right state and filing a claim.
Official resources:
- https://www.osc.ny.gov/files/unclaimed-funds/reporters/pdf/banking-institutions.pdf — Use this primary source to review the complete report.
- https://portal.ct.gov/ott/newsroom/news/news-releases/reclaim-lost-funds-on-february-1-national-unclaimed-property-day — Use this primary source to verify the official guidance.
Table of Contents
- When does a CD become escheatable?
- Which deadline actually matters?
- How do you claim an escheated CD?
- What if the CD is old or belonged to a relative?
When does a CD become escheatable?
A CD does not escheat at maturity. The Federal Deposit Insurance Corp. explains in its guide to finding lost accounts that dormancy usually runs three to five years of no owner contact.
For time deposits, the clock starts at maturity rather than purchase. Inactivity generally means no contact or instruction about the account. For example, a CD that matures and then sits untouched for several years can move toward escheatment. The owner still has time to act during that dormancy period.
Which deadline actually matters?
The only hard deadline comes before the state gets the money. The California State Controller's Office notes in its overview of claiming property that the holder tries to notify the owner first. If the owner misses that business response deadline, the CD moves to the state.
That notice often arrives by mail near the end of dormancy. Keep the bank address current and open holder mail promptly. Respond by the date in the letter to stop the transfer.
How do you claim an escheated CD?
Search the relevant state's official unclaimed-property site and file with the state. The District of Columbia Office of the Chief Financial Officer states in its unclaimed-property FAQ that official state search and claim services are free.
Use the name, address, and bank details from old statements when possible. If the online result is unclear, follow the state's contact path for that claim.
- Search the official state site by the owner's name as shown on the account.
- Select the CD entry and follow that state's claim instructions.
- File directly with the state and keep copies of what was sent.
What if the CD is old or belonged to a relative?
Heirs can claim an escheated CD after the original owner dies. There is no separate cutoff because state custody continues until the owner or heirs claim the funds. A decades-old CD found in papers is still worth checking.
Start with documents that show the bank, account number, and maturity date. Look for holder notices, tax forms, and renewal slips. Start with the state where the bank held the account.