Gift Card Reporting and Exemptions

State unclaimed property reporting of gift cards varies, but can be broken down into the following categories:

• Exempt: Many states exempt gift certificates from unclaimed property reporting altogether. Some states exempt gift cards on the condition that the card does not expire or entitle the issuer to any maintenance fees due to inactivity.
• Partially reportable:  Some states require that a percentage of the remaining gift card balance be escheated.
• Fully reportable: Other states require any balance on the card, full or partial, to be escheated after a certain period of inactivity.

In some states, if the balance of an issuer's gift card falls below a certain dollar amount, the issuer is required to redeem the gift card upon request by a customer. Please note, the rules typically do not apply to gift cards issued as part of a reward, loyalty, or promotional program. These rules do not apply to bank-issued gift cards or prepaid phone cards; and in select states the rule does not apply to cards issued for merchandise credit or paper gift certificates.