Voluntary Disclosure Program

The South Carolina State Treasurer’s Office (STO) Unclaimed Property Program (UPP) encourages organizations that are holding unclaimed property reportable to South Carolina to comply with the State’s unclaimed property law. We offer a Voluntary Disclosure Program to eligible businesses and organizations that may be holding past-due property. The Voluntary Disclosure Program provides an opportunity for organizations to perform a self-review of their records and report any past-due property without penalty.


Eligiblity

To participate in the Voluntary Disclosure Program, a Holder must meet the following criteria:

  • The Holder is not currently under audit by the UPP or one of the UPP’s contract auditors. Audits include UPP-assisted desk audits.
  • The Holder has not been notified of an upcoming audit by the UPP or one of the UPP’s contract auditors.
  • The Holder is a first-time participant in the program. This provision is waived if the property type is new or associated with the merger/acquisition of a new company.


Process

1. The Holder requests to participate in the STO UPP’s Voluntary Disclosure Program. Please submit your request by mail or email to the address below:

State Treasurer’s Office
Unclaimed Property Program
P.O. Box 11778
Columbia, SC 29211
unclaimed@sto.sc.gov

2. The UPP sends the Holder a packet including an instructional letter, the Voluntary Disclosure Agreement (VDA) and the Holder Information Form.

3. The Holder returns the VDA, signed by an authorized representative of the organization, and the completed Holder Information Form.

4. The UPP reviews the Holder’s information to determine eligibility and returns a copy of the executed VDA to the Holder.    If an organization is not eligible to participate, the UPP will send a letter explaining the reason for ineligibility.

5. The Holder performs a self-review and submits its Unclaimed Property Report and any additional required information in accordance with the terms and conditions of the VDA.

Note: Requesting a Voluntary Disclosure Agreement does not constitute enrollment in the Voluntary Disclosure Program. Agreements must be approved and executed by the STO UPP before the associated report and remittance are accepted.

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