Unclaimed property – Holder FAQs

I don’t have reporting forms. Can I photocopy last year’s forms?

Holders are required to use an original Cover Sheet (DFS-UP-111). You may photocopy the other reporting forms, DFS-UP-121, DFS-UP-128, and DFS-UP-129. These forms can be found under the Reporting Information link under Paper Reporting Forms.

The owner’s address is in another state, but our company is based in Florida. Where do I report the property?

The U.S. Supreme Court, in Texas vs. New Jersey in 1965, stated the property was due to the state of the owner’s last known address. If there is no last known address, the property is due to your state of incorporation.

What does the term “aggregate” mean?

Aggregate items are accounts where the amount is less than $50 or accounts where the owner is unknown, regardless of the amount. For statistical reasons, our office asks holders to report all aggregate totals, broken down by property type.

What do I do if I find additional items after I file my report?

You should file a supplemental report, following the same process as the original report. Please be aware, late reports are subject to late filing and interest penalties.

I have received a penalty notice. What can I do?

Waivers of penalties are granted under certain circumstances for specific reasons on a case-by-case basis. All waiver requests must be in writing. Please be specific regarding the reasons why you were late filing your report and why you believe a waiver of penalties should be considered.

Do I have to file a “zero” report if I have never filed before or if I have no unclaimed property to report?

All business entities are required to file an annual unclaimed property report. If you are holding no unclaimed property and have nothing to report, a “zero” report should be filed. Pursuant to Chapter 717, F.S., the department has the authority to audit holders to verify information filed with the department and/or to audit for unclaimed property that may have been un-reported or under-reported.

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The History of Unclaimed Property:

The origin of the unclaimed property law dates back as far as the colonization of America. Since that time, states have revised and refined their various unclaimed property laws, resulting in over $35 billion in collections; currently held for the benefit of owners whose whereabouts are at least temporarily unknown.

State Programs The National Association of Unclaimed Property Administrators (NAUPA) has information about unclaimed property in other states. MissingMoney.com is a free national search for unclaimed property. Federal Programs Pension benefits: Pension Benefit Guaranty Corporation Homeowner refunds: Department of Housing and Urban Development Locating Individual Indian Money (IIM) Account Holders: US Department of the Interior, Office of the Special Trustee for American Indians

www.patreasuryorg.com

www.Claimittexasorg.com

Making A Claim For Unclaimed Property

The claims process will begin upon receipt of the signed and notarized claim form and documentation to establish ownership and/or heirship. Payment of a claim cannot be made based on name similarity alone. Proof of ownership is necessary. Please note examples of documentation necessary to support your claim: INDIVIDUALS AS CLAIMANTS Copy of your current driver’s license and verification of your social security number (ie: copy of your social security card, copy of pay stub, tax return, etc.) If there is a co-owner, the co-owner must provide a copy of their driver’s license and verification of their social security number (ie: copy of your social security card, copy of pay stub, tax return, etc.) Verification of reported address (ie: previous address found on old utility bill, post cards, letters or deed, stock certificate, magazine subscriptions, etc.) Proof of doing business with the reporting company (ie: copies of statements, correspondence, receipts, policies, or contracts)

Check Unclaimed Property in Texas

How Does The State Get Unclaimed Property?

www.ClaimItTexasOrg.com

Texas Unclaimed Property Law requires corporations, businesses, associations, financial institutions, and insurance companies (referred to as “Holders”) to annually report and deliver property to the State Controller’s Office after there has been no activity on the account or contact with the owner for a period of time specified in the law—generally three (3) years. Often, contact is lost when the owner forgets that the account exists, or moves and does not leave a forwarding address, or the forwarding order expires. In some cases, the owner dies and the heirs have no knowledge of the property.

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