The February 28 Incident Disposition and Compensation Act Article 14

The Memorial Foundation shall make a lump sum payment of compensation to persons who are confirmed to be eligible for claiming compensation under this Act by an investigation within two months from the date of the confirmation of eligibility. Where the person eligible to claim the compensation does not collect the compensation within five years from the date he or she receives the notice of collection, the amount of compensation shall then belong to the 228 Incident Memorial Fund.
中文原文 二二八事件處理及賠償條例第14條
經紀念基金會調查認定,合乎本條例賠償對象者,於認定核發之日起二個月內一次發給。
自通知領取之日起逾五年未領取者,其賠償金歸屬二二八事件紀念基金。

English translation for reference only; the Chinese text prevails. Not legal advice.