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Unclaimed Property

You will find various posts from unclaimed property experts, assisting you with information related to processes, legislature and helpful tips

I want to make sure you all know about some changes for Texas and Connecticut.

Let’s start with Connecticut. This isn’t technically a ‘change’ as it is not new legislation. The current legislation states that your report is due ‘90 days after December 31st of the previous year’. Most years, this falls on March 31st. This year is unique because March 31st falls on a Sunday and Friday the 29th is a state holiday.

Make sure your state report is received by Connecticut no later than Thursday March 28th. Your report must be in the state’s hands by that date. A postmark on the 28th is not sufficient. You can view Connecticut’s official notice here.

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Posted by on in UP Compliance Alerts

December was a nice break from unclaimed property processes for most of you. I hope you all enjoyed the holidays with your loved ones. Now we’re all back in the office and ready for a brand new year. The first big unclaimed property task of the year is to get those due diligence letters out.

Life Insurance companies are the most affected by January due diligence. That’s because most state reports for life insurance are due in the spring and letters need to go out before you prepare your reports. Life insurers, you have this month and next to complete due diligence for Arizona, Arkansas, Colorado, District of Columbia, Florida, Georgia, Illinois, Indiana, Maine, Maryland, Michigan, Missouri, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, Oklahoma, South Dakota, Tennessee, Vermont, and West Virginia.

Insurance companies that do not deal with life policies, you have this month and next to send letters for California, Georgia, Florida, Maryland, Michigan, Missouri, New Hampshire, Tennessee, and Vermont.

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  • Tracey Reid
    Tracey Reid says #
    Thanks for the lists, Danielle...
    That is a very helpful list, Danielle! Thanks for sharing such useful information. Happy New Year! Cordially, Tracey Reid
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Posted by on in Unclaimed Property

The month of December is rather quiet for unclaimed property filers. The remit report for California was due for life insurers by December 1st.  Puerto Rico has filings due the 10th for 20th. Life insurance companies have a Delaware filing due December 20th. These filings only affect a small portion of companies. What should you do with the rest of the month? Get ready for January due diligence.

Almost all of the spring filing states have a due diligence timeframe that runs from the beginning of January to the beginning of March. You can start gathering your data now to get a jump on due diligence.

Life Insurance companies, you’ll need to gather data for Arizona, Colorado, DC, Florida, Georgia, Illinois, Indiana, Maine, Maryland, Montana, Nebraska, Nevada, New Jersey, New Hampshire, New Mexico, North Carolina, North Dakota, Oklahoma, South Dakota, Tennessee, Vermont, Virginia, and West Virginia.   

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  • Nancy Paschal
    Nancy Paschal says #
    Unclaimed Property Accountant
    December is important for Corporations with Due Diligence for the State of New York. December 10 is when the First Class Mailing
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North Carolina will automatically extend your report due date to December 1st if you were affected by Hurricane Sandy.

California just put out a notice that qualifying holders can get an extension until November 13th. Please view the notice and extension form here.

I'll keep you updated as other states announce extensions.

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Posted by on in UP Announcements

With the big storm coming into the East coast, several states have announced that they will be closed today.

Delaware, Massachusetts, Maryland, Maine, New Jersey, New York, and District of Columbia state offices will be closed.

We'll post an update when these states reopen for business.

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  • Danielle Herring
    Danielle Herring says #
    Update for Tuesday, October 30...
    Massachusetts is open as of 10am Eastern time today.
  • Danielle Herring
    Danielle Herring says #
    North Carolina Extends Deadlin...
    North Carolina has extended their due date until December 1st.
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