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TeachMeFinance.com - explain dormant account dormant account -- a savings account on which no transaction (except the crediting of interest) has occurred for a specified number of years. At the end of that time period set by state law, funds in the account escheat to the state. historic definition... Dormant account -- An account to which neither a credit nor a debit entry has been added for a protracted period; in speculation, an account in which a protracted period has elapsed since entries of transactions were made. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.