California: New holder outreach to spur voluntary compliance with unclaimed property reporting requirements
Notices will be sent to approximately 4,000 businesses in mid-to-late November.
The California State Controller’s Office (SCO) recently announced a new holder outreach and education initiative aimed at encouraging businesses to comply with the state’s unclaimed property requirements through participation in the state’s Voluntary Compliance Program (VCP). The initiative seeks to identify businesses potentially out of compliance with California’s unclaimed property laws and educate them on the benefits of enrolling in the VCP.
As part of this effort, the SCO has shared that it will begin sending notices in mid-to-late November to approximately 4,000 businesses identified as the largest potential “holders” of unclaimed property with reporting obligations in the state. Mailings are expected to continue with different groups of holders throughout 2026.
Read a November 2025 report prepared by KPMG LLP