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UNCLAIMED PROPERTY FOCUS is a blog written by and for UPPO members, featuring diverse perspectives and insights from unclaimed property practitioners across the U.S. and Canada. We welcome your submissions to Unclaimed Property Focus. Please contact Tim Dressen via tim@uppo.org with any questions about submitting a blog post for consideration and refer to our editorial guidelines when writing your blog post. Disclaimer: Information and/or comments to this blog is not intended as a substitute for legal advice on compliance or reporting requirements.

 

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2018 Fall Reporting Guide Part 4 (South Carolina – Wyoming)

Posted By Administration, Tuesday, July 31, 2018

Fall reporting season is again fast approaching. Most U.S. states require holders to file reports by either Oct. 31 or Nov. 1. Following are reporting deadlines for these states, along with helpful links. This list is not exclusive to a specific holder industry, so please check the states’ websites for information on industry-specific reporting information and deadlines. Because of the amount of information included, this guide will be published in four parts:

 

Part 1 covers Alabama through Hawaii.

Part 2 covers Idaho through Minnesota.

Part 3 covers Mississippi through Rhode Island.

Part 4 covers South Carolina through Wyoming.

 

South Carolina

Report due: Nov. 1, 2018
Extensions: Extensions may be requested by email before the report due date.

 

Contact: unclaimed@sto.sc.gov or (803) 737-4771

South Carolina holder resources

 

Notes from UPPO’s state administrator survey:

  • South Carolina now requires negative reports be submitted via our website. Holders with only a few properties may also opt to create and submit a report on our website. 
  • ACH/Wire are the preferred method of payment. Checks will be accepted but must be accompanied by a Submission Confirmation form (available on our website).

 

South Dakota

Report due: Nov. 1, 2018
Extensions: Extensions may be requested in writing before the report due date.

 

Contact: holders@sdtreasurer.gov or (605) 773-3379

South Dakota holder resources

 

Notes from UPPO’s state administrator survey:

  • Instruction manual/handbook has been updated in the past three months.
  • Reporting portal has added the option to create your report online.
  • We cannot accept HDE files.

 

Utah

Report due: Nov. 1, 2018
Extensions: Extensions may be requested in writing before the report due date.

 

Contact: holders@utah.gov or (801) 715-3300, ext. 2

Utah holder resources

 

Notes from UPPO’s state administrator survey:

  • New URL: https://mycash.utah.gov/app/faq-report
  • Instruction manual/handbook has been updated in the past three months.
  • New manual online reporting. No HDE files allowed.
  • NO HDE files.
  • Worthless shares are no longer reportable.
  • DRPs must be sold and proceeds delivered to the state.
  • New landing site for reporting https://mycash.utah.gov/app/submit-a-report

 

Virgin Islands

Report due: Oct. 31, 2018
Extensions: No details provided.

 

Contact: (340) 774-7166

Virgin Islands holder resources

 

Virginia

Report due: Nov. 1, 2018
Extensions: Extensions may be requested.

 

Contact: William.Dadmun@trs.virginia.gov or (804) 225-2142 

Virginia holder resources

 

Notes from UPPO’s state administrator survey:

  • Instruction manual/handbook has been updated in the past three months.
  • Payment of any type is accepted and should be issued within two days of submitting your electronic file.
  • If a NAUPA file is submitted for the report data, and the remittance is submitted via ACH or wire transfer, then the AP-1 form can be submitted as a scanned document (after being signed and scanned) to Report.Remit@trs.virginia.gov. If you are reporting large numbers of tangible properties, and your software supports doing so electronically, you may now report tangible items in this manner. In the past we required paper reports for tangible reports. You should still set up the tangible reports as a separate report.

 

Washington

Report due: Oct. 31, 2018
Extensions: Extensions may be requested in writing before the report due date. Include company name, holder number, reason for extension request and amount of time requested.

 

Contact: ucp@dor.wa.gov or (360) 534-1502 or (800) 435-2429

Washington holder resources

 

West Virginia

Report due: Oct. 31, 2018
Extensions: Extensions may be requested.

 

Contact: UP-ReceiptsGroup@wvsto.gov or (800) 642-8687

West Virginia holder resources

 

Wisconsin

Report due: Nov. 1, 2018
Extensions: Extensions may be requested.

 

Contact: Email formor (608) 264-4594

Wisconsin holder resources

 

Notes from UPPO’s state administrator survey:

  • Instruction manual/handbook has been updated in the past three months.
  • Reports must be filed electronically. Reports on paper or CD will not be accepted.
  • In Wisconsin, holder reports can post automatically, making property available for claimants in as little as three days. Holder reports must be correct when submitted, as we may no longer have the property for you to file a claim for refund.
  • ACH payment methods preferred. See Wisconsin Holder Report Guide for details. WIRE payments are no longer accepted.
  • Unclaimed Property has been at the Wisconsin Department of Revenue for five years. However, holders continue to send paper reports to the Office of State Treasurer. Please note: DOR ONLY accepts e-filed holder reports, and our P.O. Box is 8982. The old P.O. Box associated with the Treasurer's Office has been closed.

 

Wyoming

Report due: Nov. 1, 2018
Extensions: Extensions may be requested in writing before the report due date.

 

Contact: upreports@wyo.gov or (307) 777-5590

Wyoming holder resources

 

For detailed information about reporting deadlines, dormancy periods, due diligence requirements, exemptions and deductions, electronic filing and much more, UPPO members can refer to the Jurisdiction Resource Guide

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Title: 2018 Fall Reporting Guide Part 3 (Mississippi – Rhode Island)

Posted By Administration, Thursday, July 26, 2018

Fall reporting season is again fast approaching. Most U.S. states require holders to file reports by either Oct. 31 or Nov. 1. Following are reporting deadlines for these states, along with helpful links. This list is not exclusive to a specific holder industry, so please check the states’ websites for information on industry-specific reporting information and deadlines. Because of the amount of information included, this guide will be published in four parts:

 

Part 1 covers Alabama through Hawaii.

Part 2 covers Idaho through Minnesota.

Part 3 covers Mississippi through Rhode Island.

Part 4 covers South Carolina through Wyoming.

 

 

Mississippi

Report due: Nov. 1, 2018
Extensions: No details provided


Contact: UPReporting@treasury.ms.gov or (601) 359-2513

Mississippi holder resources

 

Missouri

Report due: Nov. 1, 2018
Extensions: Extensions may be requested in writing at least 30 days before the reporting due date.


Contact: Email form

Missouri holder resources

 

Montana

Report due: Nov. 1, 2018
Extensions: Extensions may be requested.


Contact: UnclaimedProperty@mt.gov or (406) 444-6900

Montana holder resources

 

Notes from UPPO’s state administrator survey:

  • New website URL: https://mtrevenue.gov/property/unclaimed-property-holders/
  • Instruction manual/handbook has been updated in the past three months.
  • Payment should be mailed with payment voucher. No need to fill out UCH-1 form when submission is online.
  • New contact is Anna Walker: (406) 444-6917.
 

Nebraska

Report due: Nov. 1, 2018
Extensions: Extensions may be requested.


Contact: Email form

Nebraska holder resources

 

Nevada

Report due: Oct. 31, 2018
Extensions: Extensions may be requested.


Contact: nvholder@nevadatreasurer.gov or (702) 486-4140

Nevada holder resources

 

New Hampshire

Report due: Nov. 1, 2018
Extensions: No details provided


Contact: ap@treasury.state.nh.us or (603) 271-2619

New Hampshire holder resources

 

New Jersey

Report due: Oct. 31, 2018
Extensions: Extensions may be requested.


Contact: Email form or (609) 292-9200

New Jersey holder resources

 

New Mexico

Report due: Nov. 1, 2018
Extensions: Extensions may be requested.


Contact: (505) 827-0767 or (505) 827-0668

New Mexico holder resources

 

North Carolina

Report due: Nov. 1, 2018
Extensions: Extensions may be requested.


Contact: upreports@nctreasurer.com or (919) 814-4200

North Carolina holder resources

 

North Dakota

Report due: Nov. 1, 2018
Extensions: Extensions may be requested in writing before the report due date.


Contact: Email form or (701) 328-2800

North Dakota holder resources

 

Notes from UPPO’s state administrator survey:

  • Electronic reporting required for 2018. 

 

Ohio

Report due: Nov. 1, 2018
Extensions: Extensions may be requested.


Contact: UnfdClaims.UnfdClaims@com.ohio.gov or (614) 466-4433

Ohio holder resources

 

Oklahoma

Report due: Oct. 31, 2018
Extensions: Extensions may be requested in writing on company letterhead before the report due date.


Contact: holderinfo@treasurer.ok.gov or (405) 521-4273

Oklahoma holder resources

 

Oregon

Report due: Nov. 1, 2018
Extensions: Extensions may be requested.

 

Contact: holder@state.or.us or (503) 986-5200

Oregon holder resources

 

Rhode Island

Report due: Nov. 1, 2018
Extensions: No details provided

 

Contact: ups@treasury.ri.gov or (401) 462-7676

Rhode Island holder resources

 

For detailed information about reporting deadlines, dormancy periods, due diligence requirements, exemptions and deductions, electronic filing and much more, UPPO members can refer to the Jurisdiction Resource Guide

Tags:  fall reporting  unclaimed property 

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2018 Fall Reporting Guide Part 2 (Idaho – Minnesota)

Posted By Administration, Tuesday, July 24, 2018

Fall reporting season is again fast approaching. Most U.S. states require holders to file reports by either Oct. 31 or Nov. 1. Following are reporting deadlines for these states, along with helpful links. This list is not exclusive to a specific holder industry, so please check the states’ websites for information on industry-specific reporting information and deadlines. Because of the amount of information included, this guide will be published in four parts:

 

Part 1 covers Alabama through Hawaii.

Part 2 covers Idaho through Minnesota.

Part 3 covers Mississippi through Rhode Island.

Part 4 will cover South Carolina through Wyoming.

 


Idaho

Report due: Nov. 1, 2018
Extensions: Extensions may be requested before the report due date. 


Contact: UCPBusinessQuestions@sto.idaho.gov or (208) 332-2942 or (877) 388-2942
Idaho holder resources 


Illinois 
Report due: Nov. 1, 2018, for all banking and financial organizations, insurance companies (other than life insurance) and governmental entities
Extensions: Extensions may be requested at least 15 business days before the reporting deadline.


Contact: Email form, (800) 961-8303
Illinois holder resources

 

Indiana

Report due: Nov. 1, 2018
Extensions: Extensions may be requested at least 30 days before the reporting due date.


Contact: updholder@atg.in.gov, (800) 447-5598 or (317) 883-4520
Indiana holder resources

 

Iowa

Report due: Nov. 1, 2018
Extensions: Extensions may be requested at least 30 days before the reporting due date.


Contact: upreport@tos.iowa.gov or (515) 281-7546 
Iowa holder resources

 

Kansas

Report due: Nov. 1, 2018
Extensions: Extensions may be requested.


Contact: KSHolder@treasurer.ks.gov or (785) 291-3173
Kansas holder resources

 

Kentucky

Report due: Nov. 1, 2018
Extensions: Extensions may be requested.


Contact: Unclaimed.property@ky.gov or (800) 465-4722

Kentucky holder resources

 

Notes from UPPO’s state administrator survey:

  •  Instruction manual/handbook has been updated in the past three months.
  • We want holders to keep checking on our website. We hope to have an import tool ready to use before the Nov. 1 reporting deadline.
  • Watch our website. We hope to have the import tool ready by Nov. 1 and will be able to process ACH payments.
  • Kentucky is not requiring Negative Reporting this year. New RUPPA laws are in effect for 2019 reporting season.

 

Louisiana

Report due: Oct. 31, 2018
Extensions: Extensions may be requested before the report due date.


Contact: (888) 925-4127

Louisiana holder resources

 

Notes from UPPO’s state administrator survey:

  • We have added a manual reporting option for holders to enter their data in lieu of uploading a NAUPA file. This feature is targeted to small holders who may not wish to purchase reporting software. We are phasing out paper reports. For 2018, we will continue to accept paper for less than 25 items, but this will be last year for paper reports.
  •  Louisiana no longer accepts HDE files. 
  • Louisiana no longer corrects incomplete data or incorrect codes in a holder’s NAUPA files. 
  • NAUPA files with errors will be rejected and must be corrected by the holder.

 

Maine

Report due: Nov. 1, 2018
Extensions: Extensions may be requested before the report due date.


Contact: up.holderinquiry@maine.gov or (207) 624-7470

Maine holder resources

 

Maryland

Report due: Oct. 31, 2018
Extensions: Extensions may be requested by mail or email before the report due date.


Contact: upholder@comp.state.md.us or (410) 767-1700 or (800) 782-7383

Maryland holder resources

 

Notes from UPPO’s state administrator survey:

  • Always use our web portal and send confirmation of payment instructions.

 

Massachusetts

Report due: Nov. 1, 2018
Extensions: Extensions may be requested.


Contact: UCPReporting@tre.state.ma.us or (617) 367-0400

Massachusetts holder resources

 

Minnesota

Report due: Nov. 1, 2018
Extensions: Extensions may be requested at least 30 days before the reporting due date. 


Contact: holder.unclaimed@state.mn.us or (651) 539-1545

Minnesota holder resources

 

For detailed information about reporting deadlines, dormancy periods, due diligence requirements, exemptions and deductions, electronic filing and much more, UPPO members can refer to the Jurisdiction Resource Guide

Tags:  fall reporting  unclaimed property 

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2018 Fall Reporting Guide Part 1 (Alabama – Hawaii)

Posted By Administration, Thursday, July 19, 2018

Fall reporting season is again fast approaching. Most U.S. states require holders to file reports by either Oct. 31 or Nov. 1. Following are reporting deadlines for these states, along with helpful links. This list is not exclusive to a specific holder industry, so please check the states’ websites for information on industry-specific reporting information and deadlines. Because of the amount of information included, this guide will be published in four parts over the next two weeks:

 

Part 1 covers Alabama through Hawaii.

Part 2 covers Idaho through Minnesota

Part 3 covers Mississippi through Rhode Island.

Part 4 covers South Carolina through Wyoming.

 

Alabama

Report due: Nov. 1, 2018
Extensions: Extensions may be requested.


Contact: unclaimed@treasury.alabama.gov or (334) 242-9614 or (888) 844-8400
Alabama holder resources 


Alaska

Report due: Oct. 31, 2018
Extensions: Extensions may be requested by mail or fax. Include reason for extension request and length of extension needed.


Contact: ucproperty@alaska.gov or (907) 465-3726
Alaska holder resources 


Arizona

Report due: Oct. 31, 2018
Extensions: Extensions may be requested by fax or email. Include company name, holder number or company FEIN, reason for extension request and length of extension needed. 


Contact: ReportingUnclaimedProperty@azdor.gov or (602) 716-6031
Arizona holder resources 


Arkansas

Report due: Oct. 31, 2018
Extensions: Extensions may be requested.


Contact: holders@auditor.ar.gov or (501) 682-6000 
Arkansas holder resources 

 

Notes from UPPO’s state administrator survey:

  • Instruction manual/handbook has been updated in the past three months.
  • Online reporting is required.
  • Due diligence threshold change: Act 622 amended periods for providing notice. The effective date of the Act is 8/1/2017. As such, holders will be expected to comply on 2018 filings.
  • Notice timing change: Act 622 amended periods for providing notice. The effective date of the Act is 8/1/2017. As such, holders will be expected to comply on 2018 filings.
  • Due diligence method change: Securities and sdb's must be sent by letter.
  • Report file type change: Arkansas requires all holder reports to be submitted electronically in a NAUPA-formatted file using certain options. Please refer to reporting booklet.
  • Some common areas of concern have been when holders submit a report without a payment or incorrect payment or when holders submit a payment without a report. We hope that by limiting the methods of reporting, holders may be able to more accurately reconcile their filings.


California 

Report due: Oct. 31, 2018, for Holder Notice Reports
Extensions: Extensions may be requested no later than 30 days before the due date. 

Contact: updholderoutreach@sco.ca.gov or (916) 464-6088 
California holder resources

Colorado

Report due: Nov. 1, 2018
Extensions: Extensions may be requested before the due date. Include company name, reason for extension request and length of extension needed. 


Contact: Holders@state.co.us or (303) 866-6070 or (800) 825-2111
Colorado holder resources 

 

Notes from UPPO’s state administrator survey:

  • You don’t need to mail in disks anymore. Colorado allows businesses to file their unclaimed property reports directly to us through our online portal.
  • ACH instructions are now at https://colorado.findyourunclaimedproperty.com/app/remitting-guidelines.
  • We also have a separate email for holder questions, Holders@state.co.us.
  • Checks are still accepted but please write the EIN on the front of the check in order to facilitate matching with reports.
  • Report file type change: Colorado no longer accepts reports with HDE encryption. Your NAUPA file may be in .txt, .hrs or .rpt format. Paper reports will no longer be accepted.

District of Columbia

Report due: Oct. 31, 2018
Extensions: Extensions may be requested before the due date. Include reason for extension request. 


Contact: DCUnclaimed.Property@dc.gov or (202) 442-8181
District of Columbia holder resources 

 

Georgia

Report due: Nov. 1, 2018
Extensions: No details provided


Contact: ucpmail@dor.ga.gov or (855) 329-9863
Georgia holder resources 

 

Notes from UPPO’s state administrator survey:

  • Instruction manual/handbook has been updated in the past three months.


Hawaii

Report due: Nov. 1, 2018
Extensions: Extensions may be requested by mail on company letterhead. Approvals will extend the reporting deadline until Jan. 1. 


Contact: Varies by island
Hawaii holder resources 

 

For detailed information about reporting deadlines, dormancy periods, due diligence requirements, exemptions and deductions, electronic filing and much more, UPPO members can refer to the Jurisdiction Resource Guide

Tags:  fall reporting  unclaimed property 

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2018 Unclaimed Property Legislative Roundup

Posted By Administration with contribution by Marcella Easly, senior compliance advisor at UPCR, Thursday, July 12, 2018

Unclaimed property continues to be a popular topic for state legislatures. Although a handful of state legislatures are still in session, most have completed their work. Following is a brief summary of some of the noteworthy unclaimed property bills that became law during the 2018 session. 

 

Arizona

Effective on July 1, 2018, Arizona S.B. 1412 revises provisions concerning unclaimed property credits of electric cooperatives. Among its provisions, it allows a cooperative to use all unclaimed capital credits or fees for any lawful purpose that is consistent with the cooperative’s bylaws and authorized by the cooperative’s board of directors. Additionally, the bill exempts unclaimed capital credits and fees from the state’s Unclaimed Property Act. It also prohibits an individual, corporation, business association or other organization from diverting personal property to circumvent the unclaimed property process.

 

Effective on April 17. 2018, Arizona S.B. 1264 prohibits a gift card from being subject to a fee, except as noted. It also states that the underlying monies on a gift card may not be subject to an expiration date, though a gift card, code or device associated with a gift card may contain an expiration date if certain conditions are met.

 

Hawaii

Effective on Jan. 1, 2019, Hawaii S.B. 208 adopts the National Conference of Insurance Legislators’ Model Unclaimed Life Insurance Benefits Act, which requires life insurers to conduct database searches using the federal Social Security Administration’s death master file or similar database to determine whether an insured has died. It requires life insurers to use good faith efforts to locate any beneficiaries to a policy, contract or retained asset account.

 

Indiana

Effective on July 1, 2018, Indiana S.B. 376 provides, for purposes of the unclaimed property act, that a time deposit that is automatically renewable is considered matured upon the expiration of its initial period, unless: (1) the owner has consented to a renewal at the time of the account opening or at about the time of the renewal; and (2) the consent is in writing or is evidenced by the original account agreement or by any memorandum or other record on file with the holder of the account.

 

Kentucky

Effective on July 14, 2018, Kentucky H.B. 394 enacts the Revised Uniform Unclaimed Property Act of 2016. it also requires the State Treasurer to submit a report on the status of the abandoned property fund to the Legislative Research Commission by December 15, 2018.

 

Missouri

Effective on Aug. 28, 2018, Missouri S.B. 644 creates the crime of failure to register with the state treasurer to claim property on behalf of another person for a fee, set as a class A misdemeanor. The claim form will provide notice of the requirement to register with the treasurer if one is acting as a compensated representative for another individual entitled to unclaimed property. It also allows the treasurer to review and withhold any claim until he or she is reasonably satisfied that the claim is legitimate and that the person making the claim is aware of the nature and potential value of his or her claim.

 

Effective on Aug, 28, 2018, Missouri H.B. 1879 revises notification and abandonment requirements pertaining to consumer deposit accounts with a banking or financial organization.

 

Effective on Aug. 28, 2018, Missouri S.B. 769 provides that whenever a consumer deposit account with a banking organization or financial organization has been inactive for 12 months or more and inactivity fees apply, the organization must notify the account holder of such inactivity through first class mail postage prepaid marked “Address Correction Requested” or through electronic notice if the consumer has agreed to this. Additionally, the bank must send annual statements for such account and charge a fee up to $5 per statement.

 

Pennsylvania

Effective on Dec. 25, 2018, Pennsylvania H.B. 152 requires life insurance providers to participate in the Life Policy Locator Service adopted by NAIC.

 

South Dakota

Effective on Jan. 1, 2019, South Dakota H.B. 45 revises certain provisions regarding the sale of unclaimed property. It extends the timeframe before the state treasurer can sell abandoned stocks, bonds, and other negotiable instruments from 90 to 180 days.

 

Utah

Effective on May 8, 2018, Utah S.B. 156 defines various terms, subjects stored-value cards and payroll cards to the Revised Uniform Unclaimed Property Act, provides a time period after which a stored-value card is considered unclaimed property, exempts 529 educational savings accounts from certain provisions, and addresses the State Tax Commission's responsibilities with regard to unclaimed property.

 

Virginia

Effective on July 1, 2018, Virginia S.B. 253 and H.B. 686 clarify the criteria that must be met for a bank or other financial organization to impose charges or cease to pay interest on a dormant or inactive account that differs from those imposed on active accounts. The holder may reverse or cancel dormancy charges or retroactively credit interest upon the request of the owner if it also does so for all such property that becomes subject to certain unclaimed property reporting requirements.

 

Wisconsin

Effective on April 5, 2018, Wisconsin S.B. 274 implements the Model Unclaimed Life Insurance Benefits Act prepared by the National Conference of Insurance Legislators. Generally, the bill addresses the obligations of an insurer providing life insurance policies, annuities, or retained asset accounts with respect to identifying insureds who have died and their beneficiaries.

 

For the latest information about these and other noteworthy unclaimed property bills, visit UPPO’s govWATCH website

Tags:  Arizona  Hawaii  Indiana  Kentucky  legislation  Missouri  Pennsylvania  South Dakota  unclaimed property  Utah  Virginia  Wisconsin 

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