C.R.S. Section 38-13-202
When tax-deferred retirement account presumed abandoned

(1)

Subject to section 38-13-210, property held in a pension account or retirement account that qualifies for tax deferral under the income tax laws of the United States is presumed abandoned if it is unclaimed by the apparent owner three years after the later of:

(a)

The following dates:

(I)

Except as otherwise provided in subsection (1)(b)(II) of this section, the date a second consecutive communication sent by the holder by first-class United States mail to the apparent owner is returned to the holder undelivered by the United States postal service; or

(II)

If the second communication is sent later than thirty days after the date the first communication is returned undelivered, the date the first communication was returned undelivered by the United States postal service; or

(b)

The earlier of the following dates:

(I)

The date the apparent owner becomes seventy and one-half years of age, if reasonably determinable by the holder; or

(II)

If the federal “Internal Revenue Code of 1986”, as amended, 26 U.S.C. sec. 1 et seq., requires distribution to avoid a tax penalty, two years after the date the holder:

(A)

Receives confirmation of the death of the apparent owner in the ordinary course of its business; or

(B)

Confirms the death of the apparent owner under subsection (2) of this section.

(2)

If a holder in the ordinary course of its business receives notice or an indication of the death of an apparent owner and subsection (1)(b) of this section applies, the holder shall attempt not later than ninety days after receipt of the notice or indication to confirm whether the apparent owner is deceased.

(3)

If the holder does not send communications to the apparent owner of an account described in subsection (1) of this section by first-class United States mail, the holder shall attempt to confirm the apparent owner’s interest in the property by sending the apparent owner an electronic-mail communication not later than two years after the apparent owner’s last indication of interest in the property; except that the holder promptly shall attempt to contact the apparent owner by first-class United States mail if:

(a)

The holder does not have information needed to send the apparent owner an electronic-mail communication or the holder believes that the apparent owner’s electronic-mail address in the holder’s records is not valid;

(b)

The holder receives notification that the electronic-mail communication was not received; or

(c)

The apparent owner does not respond to the electronic-mail communication not later than thirty days after the communication was sent.

(4)

If first-class United States mail sent under subsection (3) of this section is returned to the holder undelivered by the United States postal service, the property is presumed abandoned three years after the later of:

(a)

Except as otherwise provided in subsection (4)(b) of this section, the date a second consecutive communication to contact the apparent owner sent by first-class United States mail is returned to the holder undelivered;

(b)

If the second communication is sent later than thirty days after the date the first communication is returned undelivered, the date the first communication was returned undelivered; or

(c)

The date established by subsection (1)(b) of this section.

Source: Section 38-13-202 — When tax-deferred retirement account presumed abandoned, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-38.­pdf (accessed Oct. 20, 2023).

38‑13‑101
Short title 38‑13‑102
Definitions 38‑13‑103
Inapplicability to wholly foreign transaction 38‑13‑104
Rule-making 38‑13‑201
When property presumed abandoned 38‑13‑202
When tax-deferred retirement account presumed abandoned 38‑13‑203
When other tax-deferred account presumed abandoned 38‑13‑204
When custodial account for minor presumed abandoned 38‑13‑205
When contents of safe-deposit box presumed abandoned 38‑13‑206
When stored-value card presumed abandoned 38‑13‑207
When gift card presumed abandoned 38‑13‑207.5
Bank deposits and funds in financial organizations - definition 38‑13‑208
When security presumed abandoned 38‑13‑209
When related property interest presumed abandoned 38‑13‑210
Indication of apparent owner interest in property 38‑13‑211
Knowledge of death of insured or annuitant - definition 38‑13‑212
Deposit account for insurance policy or annuity contract 38‑13‑213
Refunds held by business associations 38‑13‑214
Foreclosure sale - overbid 38‑13‑215
Funds held in lawyer COLTAF trust accounts - exemption - definition 38‑13‑216
Money held by the public employees’ retirement association - definitions 38‑13‑217
Gaming chips or tokens - gaming award points - inapplicability 38‑13‑218
Property held by racetracks - inapplicability 38‑13‑219
Unclaimed gift cards - limited exception 38‑13‑220
Tax refunds 38‑13‑301
Address of apparent owner to establish priority 38‑13‑302
Address of apparent owner in this state 38‑13‑303
If records show multiple addresses of apparent owner 38‑13‑304
Holder domiciled in this state 38‑13‑305
Custody if transaction took place in this state 38‑13‑306
Traveler’s check, money order, or similar instrument 38‑13‑307
Burden of proof to establish administrator’s right to custody 38‑13‑401
Report required by holder 38‑13‑402
Content of report 38‑13‑403
When report to be filed 38‑13‑404
Retention of records by holder 38‑13‑405
When property reportable and payable or deliverable 38‑13‑501
Notice to apparent owner by holder 38‑13‑502
Contents of notice by holder 38‑13‑503
Notice by administrator 38‑13‑504
Cooperation among state officers and agencies to locate apparent owner 38‑13‑601
Definition of good faith 38‑13‑602
Dormancy charge 38‑13‑603
Payment or delivery of property to administrator 38‑13‑604
Effect of payment or delivery of property to administrator 38‑13‑605
Recovery of property by holder from administrator 38‑13‑606
Crediting income or gain to owner’s account 38‑13‑607
Administrator’s options as to custody 38‑13‑608
Disposition of property having no substantial value - immunity from liability 38‑13‑609
Periods of limitation and repose 38‑13‑701
Public sale of property 38‑13‑702
Disposal of securities 38‑13‑703
Recovery of securities or value by owner 38‑13‑704
Purchaser owns property after sale 38‑13‑705
Military medal or decoration 38‑13‑801
Unclaimed property trust fund - creation - payments - interest - appropriations - records - rules 38‑13‑801.5
Unclaimed property tourism promotion trust fund - creation - payments - interest - transfers - definition 38‑13‑802
Administrator to retain records of property 38‑13‑803
Administrator holds property as custodian for owner 38‑13‑901
Claim of another state to recover property 38‑13‑902
When property subject to recovery by another state 38‑13‑902.1
Claims offset for child support 38‑13‑902.2
Claims offset for judicial restitution, fines, fees, costs, or surcharges 38‑13‑902.3
Claims offset for state tax delinquencies 38‑13‑902.4
Claim of the state or governmental agency 38‑13‑903
Claim for property by person claiming to be owner 38‑13‑904
When administrator must honor claim for property 38‑13‑905
Allowance of claim for property 38‑13‑906
Action by person whose claim is denied 38‑13‑1001
Verified report of property 38‑13‑1002
Examination of records to determine compliance 38‑13‑1003
Rules for conducting examination 38‑13‑1004
Records obtained in examination 38‑13‑1005
Evidence of unpaid debt or undischarged obligation 38‑13‑1006
Failure of person examined to retain records 38‑13‑1007
Report to person whose records were examined 38‑13‑1008
Complaint to administrator about conduct of person conducting examination 38‑13‑1009
Administrator’s contract with another to conduct examination - definition 38‑13‑1010
Limit on future employment 38‑13‑1011
Determination of liability for unreported reportable property 38‑13‑1101
Informal conference 38‑13‑1102
Review of administrator’s determination 38‑13‑1103
Administrative review 38‑13‑1104
Judicial remedy 38‑13‑1201
Judicial action to enforce liability 38‑13‑1202
Interstate and international agreement - cooperation 38‑13‑1203
Action involving another state or foreign country 38‑13‑1204
Interest and penalty for failure to act in timely manner 38‑13‑1205
Other civil penalties 38‑13‑1206
Waiver of interest and penalty 38‑13‑1301
When agreement to locate property enforceable 38‑13‑1302
When agreement to locate property void - rules 38‑13‑1303
Right of agent of apparent owner to recover property held by administrator 38‑13‑1304
Agreements to locate reported property - overbids from foreclosure sales 38‑13‑1401
Definitions - applicability 38‑13‑1402
Confidential information 38‑13‑1403
When confidential information may be disclosed 38‑13‑1404
Confidentiality agreement 38‑13‑1405
No confidential information in notice 38‑13‑1406
Security of information 38‑13‑1407
Security breach 38‑13‑1408
Indemnification for breach 38‑13‑1501
Uniformity of application and construction 38‑13‑1502
Relation to electronic signatures in global and national commerce act 38‑13‑1503
Transitional provision 38‑13‑1504
Application of article - local government - exemption - notice of property
Green check means up to date. Up to date

Current through Fall 2024

§ 38-13-202’s source at colorado​.gov