According to the regulation of 2007, the “conti dormienti”:
- are those which have not been used for more than 10 years
- are closed if no action is taken by the account holder within 180 days
After this deadline, these accounts are transferred to a public fund.
The regulation on “conti dormienti” (Presidential Decree no. 116 of 22 June 2007, published in issue no. 178 of the Gazzetta Ufficiale on 2 August 2007) came into force on 17 August 2007.
The regulation states that:
- deposits of cash sums and financial instruments held in custody and administration are considered “dormienti” if there has been no transaction or movement in relation to them initiated by the account holder, or by third parties delegated thereof, for a period of 10 years from the date when said sums or instruments became freely available;
- pursuant to article 3, the “dormienti” deposit must be closed upon completion of the above period, unless the account holder initiates a transaction or movement (understood as express communication to the bank of an intention to keep the account open) within 180 days of notification from the intermediary. The deposits shall thus be transferred to a public fund (as per article 1, paragraph 343 of law no. 266/2005).
We refer the list of accounts that the bank has proven to be “dormienti”.
