COVID-19: FAQ Concerning Unclaimed Property

This page will be updated regularly.

Last updated: April 14, 2020

Administration of unclaimed property

Is Revenu Québec still accepting unclaimed property?

Activities related to processing new unclaimed property have been suspended as Revenu Québec is currently devoting its resources to providing essential services, such as ensuring that there are receptionists at our client services centres and managing unclaimed property that requires immediate attention to ensure public safety (abandoned dams, contaminated land, etc.). Activities related to processing unclaimed property, maintaining the register of unclaimed property, searching for right-holders and liquidating unclaimed successions already entrusted to us, as well as the 10-year limit for recovering amounts less than $500 from the Minister of Finance, have all been temporarily suspended until the health emergency is lifted (Order 2020-4251 dated March 15, 2020).

What is happening with the administration of unclaimed successions?

Currently we are not accepting any new unclaimed successions or liquidating unclaimed successions already entrusted to us. These activities will resume gradually once the health emergency is lifted.

Claiming financial assets

I submitted a claim for an unclaimed financial asset or an unclaimed succession, will processing take longer than usual?

The processing of claims for financial assets and unclaimed successions has been suspended. These activities will resume gradually once the health emergency is lifted.

Remitting financial assets

Are there any relief measures for holders of unclaimed financial assets who must make their annual remittance?

Yes. The deadline by which a holder must remit unclaimed property to the Minister of Revenue has been extended to August 31, 2020, where the property became unclaimed in the period from December 17, 2019, to May 30, 2020. The deadline is normally the end of the first quarter following the fiscal period in which the property became unclaimed. No interest or penalty will apply to such property if it is remitted to the Minister before September 1, 2020.

Audits

What is happening with audits of financial asset holders?

Revenu Québec is currently devoting its resources to providing essential services, such as ensuring that there are receptionists at our client services centres and managing unclaimed property that requires immediate attention to ensure public safety (abandoned dams, contaminated land, etc.). All audit activities related to holders of unclaimed financial assets have, therefore, been suspended. These activities will resume gradually once the health emergency is lifted.

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