Our state's (NM) reporting instructions indicate that you cannot assume the whereabouts of customers just because the post office did not return mail. Therefore, even a good address does not equate to 'contact'. When reviewing your records for dormant accounts, remember to look for the last debit or credit activity generated by the owners.
In our case, unless we could contact the customer directly, or he/she initiated transactions to the account, we would use that last date for escheatment purposes.
Also, in some states such as ours, if they have other accounts that are active, we would consider this one as active because we have had contact with them through the other accounts.
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I hear and I forget. I see and I remember. I do and I understand.--Confucius