Under Colorado law, landlords must return the full security deposit or provide a detailed written statement outlining any deductions within one month after the lease concludes. This period can be extended up to 60 days if explicitly stated in the lease agreement. Should a landlord fail to provide this statement within the designated timeframe, they forfeit the right to withhold any of the security deposit.
If the landlord withholds the deposit willfully and unlawfully, they may be liable for three times the deposit amount. The court can also order the landlord to pay the tenant's reasonable attorney fees and court costs, provided the tenant gives the landlord at least seven days' notice of their intent to take legal action.
A landlord's claim that they sent the deposit and explanation to the former rental address does not release them from their obligations. The burden rests on the landlord to demonstrate that withholding the security deposit was lawful. Failing to provide a forwarding address does not excuse the landlord from adhering to the required timeline and providing a proper, itemized accounting.
Your next best step is to contact an experienced landlord & eviction attorney.