What You Should Know
Checks more than 90-days old are considered “stale dated”. Checks issued by the University that are less than three years old, can be cashed or reissued. Checks more than three years old cannot be reissued by the University, but you may be able to claim the amount.
Checks Two Years Old or Less
Any stale dated check issued by Princeton University during or after 2014, can be cashed at the Bank of America at the corner of Witherspoon and Nassau Streets in Princeton, NJ. This financial institution has been instructed to honor stale dated checks from the University.
If you can’t get to this Bank of America branch, mail the stale dated check back to payroll along with a Request for Payroll Check Stop Payment. Once payroll receives the check, the check will be voided, reissued, and mailed to the address you provide on the form.
Checks More than Two Years Old
Checks issued more than three years ago may not be reissued by the University. In compliance with New Jersey’s escheat laws, funds backing checks more than three years old are considered unclaimed property.
Every state has escheat laws that affect unclaimed or abandoned property. In general, the laws require that property, including the funds from uncashed and/or unclaimed payroll checks, be turned over to the state after a designated period. That period varies from state to state; in New Jersey it is three years.
The state then holds the property, in this case the uncashed check, for the owner or heirs until a claim is filed to collect the property. To claim a check issued by the University more than three years ago, go to State of NJ- Department of the Treasury - Unclaimed Property.