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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

Posted by on in Unclaimed Property

I am pleased to help NAUPA spread the word about the 2013 Holder Workshop. Please see the message from NAUPA below...

The National Association of Unclaimed Property Administrators (NAUPA) is pleased to announce that it will again be conducting an affordable workshop for holders who are interested in meeting and discussing mutual topics of interest with state unclaimed property personnel May 14-17 at the Westin Hotel in Pittsburgh, Pennsylvania. Regardless of your ability to attend, we value your opinion as we develop the agenda for this unique forum of ideas, challenges and possible solutions.

Click here to complete our anonymous five-minute survey so we may design sessions that will be relevant and useful in your daily unclaimed property work. The survey will be open until Friday, January 25, 2013.

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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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