• Responsibilities
• Types of unclaimed property
• Unclaimed financial assets
• Unclaimed successions
• Register of unclaimed property
  • Frequently asked questions
• Notices of quality
• Fees
• Documents

Register of unclaimed property – Frequently asked questions

1. What is the register of unclaimed property?

The register lists all unclaimed property remitted to the Minister of Revenue in respect of which the owners or assigns are unknown or untraceable. Unclaimed financial assets listed in the register belong to owners or assigns whose last known address is in Québec.

All such property is remitted to the Direction générale des biens non réclamés of Revenu Québec. Revenu Québec is the single agency responsible for recovering and administering unclaimed property.

2. What types of property are listed in this register?

The following types of unclaimed property are listed in the register:

• property of unclaimed successions (or estates)
• property found on an unidentified or unclaimed body
• property abandoned by legal persons (corporations) that have been dissolved
• property located in Québec whose owners are unknown or untraceable
• vehicles abandoned on public highways
• financial assets such as
  • deposits of money, excluding deposits made with banks and federally chartered trust corporations
  • the value of cheques and bills of exchange certified or accepted by a financial institution, as well the value of drafts issued by such institutions
  • amounts payable for the repayment or redemption of debt securities or other types of interest in a legal person, partnership or trust
  • funds, securities and other assets received by a securities adviser or broker
  • funds, securities and other assets held in trust
  • funds, securities and other assets deposited in a safety deposit box at a financial institution
  • funds, securities and other assets held by a financial institution as a creditor, pledge holder or custodian
  • amounts payable under a life insurance contract
  • amounts payable under a pension or retirement contract or plan
  • interest, dividends and other income produced by the assets mentioned above

3. Is all unclaimed property listed in the register?

All property having a positive balance (that is greater than $0) after fees, costs and taxes have been deducted is listed in the register of unclaimed property. However, there may be a delay between the time property is received and the time it is listed. Property received must be verified to ensure that it fulfils the requirements of the Public Curator Act before it is listed in the register. Under the Regulation amending the Regulation respecting the application of the Public Curator Act, the value of the property, minus the fees and charges paid, must be listed with the other data respecting the property, except where the value is unknown or the property is in the process of being liquidated.

Under section 26.2 of the Public Curator Act, where the confidentiality of the information provided is protected as privileged information, only the identity of the debtor or holder in respect of the property (such as a professional order, law firm or notary's office), its professional address and the source of the rights involved may be made public.

4. Where does such property come from?

A major source of unclaimed property is unclaimed successions (or estates) remitted to the Minister of Revenue, where any property remains after debts are paid. Another source is legal persons that are dissolved and whose property is being provisionally administered by Revenu Québec. Unclaimed financial assets come primarily from financial institutions (including savings and credit unions), insurance companies, trust companies, law firms and notary's offices, managers of retirement plans, and securities advisers or brokers.

5. Once property is remitted to the Minister of Revenue, is it automatically listed in the register of unclaimed property?

There is a delay between the time unclaimed property is received and the time it is listed in the register. Property must first be verified to ensure that it was duly remitted in compliance with the requirements of the Public Curator Act. Only then is the information concerning to the property listed in the register.

6. How long does unclaimed property remain in the register?

Unclaimed successions

Information concerning an unclaimed succession (or estate) must remain in the register for 10 years from the time Revenu Québec opens the file, in cases where there is a remainder (or balance) after the assets of the succession are liquidated, the creditors have been paid, and Revenu Québec has collected its fees.

Unclaimed financial assets

If sums are remitted to the Minister of Finance before July 1, 1999, the information concerning the property listed in the register must remain there for 10 years from the time Revenu Québec begins administering the property, regardless of the amount in question.

If sums are remitted to the Minister of Finance after July 1, 1999, the information concerning the property listed in the register must remain there for:

• 30 years from the date the property was remitted to the Minister of Finance, if the amount in question is $500 or over
• 10 years from the date the property was remitted to the Minister of Finance, if the amount in question is less than $500

7. Why is the information in the register made public?

An important part of the mission assigned to the Direction générale des biens non réclamés is to assist owners and assigns in tracing and recovering their property. The purpose in making the register public is to locate as many owners and assigns as possible and to remit their property to them.

8. Who may consult the register?

Any citizen may consult the register of unclaimed property.

9. How can I consult the register?

You can consult the register:

• online through the Register of unclaimed property service
• by telephone at 1 866 840-6939 (toll-free)
• in person at the following address: 500, boulevard René-Lévesque Ouest, bureau 10.00, Montréal

10. Is there a charge for consulting the register?

There is no charge for consulting the register of unclaimed property of Revenu Québec.

11. Do I have to pay fees to recover property from Revenu Québec?

You must pay fees corresponding to 10% of the value of property (other than property found in a safety deposit box). The minimum is $2, but may not exceed $1,000.

In the case of a safety deposit box, the fees are $161.

For successions liquidated by Revenu Québec, fees also apply at the time the property is remitted to the assigns. The fees are set forth in the Regulation respecting the application of the Public Curator Act.

12. How long does it take to process a claim?

In the case of unclaimed financial assets, it usually takes six to eight weeks from the time Revenu Québec receives an application in order to process a claim and authorize payment. Processing time may be longer in the case of a claim filed by the liquidator of a succession.

13. What is the total value of the property listed in the register of unclaimed property?

Value of the property in the register at December 23, 2006

1. Taking into account the fees collected or collectible by Revenu Québec.