how long before i turn over unclaimed property to state of oklahoma
Claiming Unclaimed Property in Oklahoma. In Oklahoma, property is generally presumed abandoned if it has remained unclaimed by the owner for more than five years after it becomes payable or distributable. However, this time limit varies depending on the type of property involved. Once abandoned property is turned over to the state by a business, an individual then has the burden of reclaiming from the state. Reporting Unclaimed Property in Oklahoma. In Oklahoma, a holder of abandoned property valued at $50 or more must file a verified annual report containing information concerning the property required by the Oklahoma State Treasurer. The report must be filed before November 1 for property reportable as of September 1, except that for life insurance companies, the report must be filed before May 1 for property reportable as of March 1.