Unclaimed Financial Assets

We provisionally administer financial assets considered to be unclaimed. These financial assets are entered in the register of unclaimed property.

Characteristics

A financial asset is unclaimed in the following cases:

• No claims have been made, no transactions have been performed or no instructions have been given for a period of three years.
• The holder has not found the owner or other interested party.
• In one of the following circumstances:
  • The last known address of the owner or other interested party is in Québec.
  • The address of the owner or other interested party is unknown, and the asset was acquired in Québec.
  • The asset is in Québec and the owner or other interested party is resident outside Québec in a jurisdiction where provisional administration of financial assets is not provided for by law.

Notice to owners or other interested parties

Before the end of the three-year period of inactivity, holders of unclaimed financial assets must send a notice to the owners or other interested parties. The notice informs them that the asset will be remitted to us unless they contact the holder.

Holders do not have to send a notice if the value of all unclaimed financial assets of an owner or other interested party is less than $100, or if the holder cannot find the address of the owner or interested party by reasonable means.

Holders must keep a list of the financial assets they remitted to us for a period of ten years in case they are contacted by an owner or other interested party.