At the end of June, the 2025 legislative sessions closed for all but a few states. As in past years, in 2025 a number of states proposed remarkably similar changes to their unclaimed property statutes, and identifiable trends emerged in both proposed and enacted legislation. While each state’s statutes may have had their own nuances, overall trends emerged that are likely to impact both holders and unclaimed property owners. To help companies obtain a better understanding of these trends, we’ve pulled together a summary of the notable trends that we’ve seen relating to unclaimed property in 2025.
Securities
Historically, the standard dormancy trigger for securities has been the return of one or more items of U.S. mail as undeliverable (RPO) sent to the owner of the securities. However, some legislation proposed in 2025 sought to repeal this standard, and in Florida it has been replaced with an inactivity standard. This means that unless the owner actively manages or accesses their account, it can be deemed dormant following a requisite period of inactivity. The state’s position appears to be that the RPO standard is outdated, as many owners now access their accounts and receive statements electronically. However, the risk is that many investors adopt a “set it and forget it” strategy with their investment accounts, especially those established as retirement or educational savings accounts. Florida’s approach may be perceived as aggressive and does not appear to consider previous recommendations raised via the Revised Uniform Unclaimed Property Act of 2016 (RUUPA), which would implement email communication, prior to the issuance of U.S. mail and an RPO standard to trigger dormancy.
Virtual currency
Another legislative trend noted in 2025 centered around virtual currency. At the heart of the legislation is the requirement by many states for the holder to liquidate the virtual currency prior to reporting. This raises several concerns for most holders. First, virtual currency is a volatile asset which can have large price fluctuations over short periods of time. This can put the holder in the difficult position of facing legal challenges from owners who face monetary loss as a result of liquidation. While some states have included provisions to protect the holders who liquidate and remit virtual currency in good faith, the risk of lawsuits, as well as reputational and monetary damages, remain. In 2025, the states that have enacted virtual currency liquidation requirements prior to reporting have included Colorado, Maryland, North Dakota, Rhode Island and South Dakota. Fortunately, Arizona and Oregon adopted provisions that allow the holder to deliver the virtual currency without liquidation prior to reporting, and similar provisions were considered in Alabama, California and Texas. Still, this may pose a compliance challenge for holder and states alike, regarding the transfer and custodial taking of virtual currency in its original form.
