Uncashed Checks / Unclaimed Property
Unclaimed property is a term used for outstanding checks, including checks issued by the university that have not been cashed by the payee, e.g. payroll checks, checks issued to vendors, reimbursement checks, etc.
USC holds unclaimed property, until the dormancy period of the payee’s state (based on last known residence) has run out. Once the dormancy period has expired, we must report it to the payee’s state. Due diligence must be done to try and contact the payee to see if the property is still outstanding or if it is no longer outstanding.
If we do not receive a claim for a refund in a timely manner, we must remit the funds to the state government, pursuant to the unclaimed property laws in effect, and you will have to apply to the state for a refund.
Have you received a request for information to verify your identity for a possible refund due to you from USC?
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