#2015-1092Decree No. 2015-1092 on Inactive Bank Accounts and Unclaimed Life Insurance Contracts
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The French decree n° 2015-1092 establishes regulations regarding inactive bank accounts and unclaimed life insurance policies. It outlines the processes for handling accounts with no activity, including the obligation for financial institutions to annually inform account holders about their account status and to transfer inactive account balances to the French Caisse des dépôts et consignations. It also sets rules for how life insurance benefits should be managed and informs beneficiaries of their rights, particularly in relation to deceased insured individuals.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Institutions must communicate annually with account holders of inactive accounts.
- Inactive accounts are transferred to the Caisse des dépôts et consignations after set periods.
- Insurance companies must notify beneficiaries about their rights and the status of life insurance policies.
Obligations
What this law requires
Financial institutions must annually inform account holders about their inactive account status, continuing each year until the year before transfer to Caisse des dépôts et consignations. If valid postal address is unavailable, institutions must contact the account holder by alternative means.
Financial institutions must transfer inactive account balances to Caisse des dépôts et consignations within three months following expiration of the 10-year or 3-year inactivity periods specified in Article L. 312-20.
Financial institutions must convert foreign currency deposits to euros before depositing at Caisse des dépôts et consignations, deducting only third-party conversion fees.
Financial institutions must communicate electronically to Caisse des dépôts et consignations comprehensive account information including account references, balances, original currency, account holder identity/address, and dates of last activity for each transferred account.
Financial institutions must cap annual fees and commissions on inactive accounts within regulatory limits set by ministerial decree, with separate caps for each account category (savings products, financial instruments accounts, etc.).