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Dormant Account Reporting to the Central Bank

Published: Tuesday February 17th, 2009

Dormant Account Reporting to the Central Bank

Consistent with the Central Bank’s overall commitment to enhance the efficiency of its operations, we have recently developed the Dormant Account Web Reporting System (DARS). The DARS is a secure web portal that will allow banks to input annual dormant account submissions directly to the Central Bank’s dormant account web server, thereby eliminating the existing excel reporting system.

We have prepared the following two documents to assist with the preparation and reporting of dormant accounts.

a. Guidelines on the Dormant Accounts Web Reporting System, which outlines the functionality of the DARS, inclusive of security features and the website address.

b. Dormant Account Guidelines, which outlines the Central Bank’s minimum requirements for the identification, administration and investigation of inactive deposit accounts and the ultimate disposition of dormant account balances to the Central Bank.