#  Escheat at Harvard University 

 



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Uncashed checks, also called outstanding checks, are checks issued by Harvard that have not been cashed by the intended payee. If a check remains uncashed for 180 days or longer, it becomes stale and is referred to as a stale-dated check, and banks will decline the check if the payee tries to cash it. If the check remains uncashed for a period of time, it becomes unclaimed property, also known as escheatment.

Taking action to follow up on an uncashed check (to a supplier or a visiting speaker, for example) in a timely manner supports proper stewardship of University funds, and decreases the time and effort needed to track and resolve stale checks.

Each state’s law adheres to different dormancy periods before a check is turned over to the state, therefore Harvard has contracted with a vendor to track and perform escheat requirements, including due diligence notifications and state payments of abandoned property. **As a result, departments are no longer required to send due diligence letters.**

Although due diligence letters are sent by our third party vendor, your assistance is still needed to identify checks that should be escheated, re-issued or redeposited. *To prevent the checks from becoming escheatable, departments need to review any Accounts Payable checks that have not been cashed within 6 months and take action.* To facilitate that research, the following tasks should be initiated periodically as indicated below.

### Department Tasks

1. Run the [**Escheat Due Diligence Report**](/access-escheat-due-diligence-report "Access Escheat Due Diligence Report") dashboard in HART for Escheat Status All Column Values or NULL
2. Confirm services were rendered and the vendor/individual is still due the payment, for checks with a blank escheat status.
3. Research the vendor/individual and verify the following:
    - A duplicate payment was not issued.
    - Services were rendered

#### After it has been determined whether the check(s) need to be reissued or redeposited:

##### Reissues:

1. If the check is to be reissued, confirm the vendor and address are active in B2P
2. Complete [Check Inquiry Request form](/sites/g/files/omnuum12861/files/otm/files/check_inquiry_form.pdf "Check Inquiry Request Form")
3. Email form to your supervisor for review
4. Email reviewed form to [checkinquiryform@harvard.edu ](mailto:checkinquiryform@harvard.edu)with the check number as the subject
5. Save the sent email as backup
6. Save a copy of the form and any back up from the payee

##### Redeposits:

1. If check is to be redeposited, complete the [check inquiry form](/sites/g/files/omnuum12861/files/otm/files/check_inquiry_form.pdf "Check Inquiry Request Form") (see note below)
2. Provide a single 33-digit coding to be credited
3. Email form to your supervisor for review
4. Email reviewed form to [checkinquiryform@harvard.edu ](mailto:checkinquiryform@harvard.edu)with the check number as the subject
5. Save the sent email as backup
6. Save a copy of the form and any back up from the payee

#### Note for Escheat Redeposits: 

- Be aware that escheat check redeposits for checks issued in a prior calendar year to 1099 and 1042S vendors could have tax reporting implications.
    - For 1099-related questions, reach out to [AP\_CustomerService@harvard.edu](mailto:AP_CustomerService@harvard.edu).
    - For any 1042S vendors (individual or foreign entity supplier), **do not process** a check stop & redeposit without a prior review and approval from [IPTC Customer Experience & Operations Manager, Maria Van Den Bosch](mailto:maria_bosch@harvard.edu).



 

##  Contact Us 

Email:   
<checkinquiryform@harvard.edu>