The Financial and Consumer Services Commission of New Brunswick has confirmed that the mandatory annual reporting period under New Brunswick’s Unclaimed Property Act is underway, requiring businesses and other organizations holding unclaimed funds to report them to the province’s Unclaimed Property Program through FundsFinderNB.ca by March 31. Money and other monetary property is generally treated as unclaimed after at least three years of inactivity, or 10 years for credit union accounts. Businesses must review their books, attempt to locate owners and return funds or re-establish an active relationship, and report the property to the Program if the apparent owner does not respond. The Commission also launched an awareness campaign and published resources to address misconceptions about reporting; it reported that more than USD 2.1 million has been returned to owners since the FundsFinderNB.ca website launched, and that hundreds of businesses have reported more than USD 35 million in unclaimed property. The Commission said its Compliance Awareness Program, introduced last year to allow selected businesses to review and correct errors or oversights in the annual reporting process, will continue in the upcoming year.
New Brunswick Financial & Consumer Services Commission 2025-01-09
Financial and Consumer Services Commission of New Brunswick opens annual unclaimed property reporting period with 31 March deadline
The Financial and Consumer Services Commission of New Brunswick has initiated the mandatory annual reporting period under the Unclaimed Property Act, requiring entities to report unclaimed funds via FundsFinderNB.ca by March 31. Money is deemed unclaimed after three years of inactivity, or ten years for credit union accounts. The Commission continues its Compliance Awareness Program and reports over USD 2.1 million returned to owners and more than USD 35 million in unclaimed property.