If the Bank is liable to the state (for escheatment purposes) because the contents of a safe box are now missing and no record of the contents can be located, how should the Bank valuate the list of contents in order to remit to the State?

How do you know there were contents in the box? If there is no record of the contents, perhaps the box was never used..therefore no unclaimed property ever existed.

We gave the state a list of contents in the box when it was drilled open on our escheatment report. So we know there were contents in the box. We just don't know what happened to the contents between the time of reporting and the time for remittance to the state.

We always kept multiple copies of our lists - one with escheat report, one with contents and one in central drilled file. Have you exhausted all options to find another report? Perhaps even getting a copy back from the state?

Are you saying that you lost the contents of a drilled box??? Sounds like a full investigation and SAR may be in order.

We have the report that lists the contents. We dont' have the contents. We know we would be liable to the State for the value of the contents. The question of the day is how do we value the contents?

It would depend on the type of contents. Sounds like you need bank counsel to be involved. And as Randy said, full investigation and SAR determination.

You probably need to perform a full audit of your safekeeping boxes as well if you haven't already done so.