The answer is "it depends." In most cases, you are correct -the state of incorporation would receive the funds, although not all states' laws are the same on this topic. Some states might forego right to the property, resulting in the condition where the funds would not be escheatable to any state at all. It depends on what version of the Uniform Unclaimed Property Act the state follows, AND on what that state has done to clarify the Act's language on this topic. So you must go to the payor's state of incorporation to find your answer. We have a table of Web links to help you find the information.
Have more questions? Submit a request