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Property Codes Demystified

Posted by on in UP Reporting Tips
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Have you ever been confused about which property code to use for a certain type of property? We have all been there. NAUPA, the National Association of Unclaimed Property Administrators, has a list of standard codes that you can view here starting at the bottom of page 23.

Each code is made up of two alpha characters and two numeric characters. The alpha characters identify a property category. AC codes are account related and usually used by financial institutions. CK codes are checks and could potentially be used by anyone. CS codes are new and are used for educational savings accounts. HS codes are new and are used for health savings accounts. CT codes are for courts and governments. IN codes are insurance related. IR codes are also a new category and are for IRAs. MI codes are for mineral interests. These are used by oil and gas companies. MS codes are a miscellaneous category and include such things as payroll checks and refunds due. SC codes are for securities. They are used for items like dividend checks and shares of stock. TR codes are for trusts. UT codes are for utilities. The ZZZZ code is an ‘other’ category and should only be used if there is truly no other code that will properly identify the property you are reporting.

Each code is assigned a dormancy value. This is the number of years that type of property should age before it is reported to the state.

The NAUPA list is a suggestion of codes for the states to use. Each state decides which codes they will adopt and how many years each should age before it is reported. Some states use extra codes that are not on the NAUPA standard list. For example, Louisiana has over 60 IR codes. Because of the variations from state to state, you’ll want to look at each state’s list of codes. You can find the codes on the states’ unclaimed property websites. Most states include the list in their handbooks. Some states post them as a separate listing on their unclaimed property page.

If you are a UPExchange user, you can find the property codes on the Resources page. Select a state on the map then click on the Property Codes link.

The property codes are required for unclaimed property reporting. It is very important to choose the correct code. If you are ever in doubt about which property code to use, it is best to contact the states. Unclaimed property experts can give you an educated guess about which codes will best identify your property, but since this is actually legal advice it is best to go directly to the states.

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  • Guest
    Michael Ryan Friday, 10 February 2012

    Property Codes

    Nice that you included the link to NAUPA for everyone to see and print!!

  • Guest
    Wanda Keplar Wednesday, 22 February 2012

    property Codes

    I have notice that some states have change what some codes are to be used for. Example. I use CT06 for Victim Restitution for AZ but some states do not have this code or use CT06 for Child Support payments which in AZ is CT07. I thought that the codes where to be the same for all states.

  • Danielle Herring
    Danielle Herring Wednesday, 22 February 2012

    Property Codes are State Specific

    Hi Wanda,

    Please refer to the following section of the original blog post:

    "The NAUPA list is a suggestion of codes for the states to use. Each state decides which codes they will adopt and how many years each should age before it is reported. Some states use extra codes that are not on the NAUPA standard list. For example, Louisiana has over 60 IR codes. Because of the variations from state to state, you’ll want to look at each state’s list of codes. You can find the codes on the states’ unclaimed property websites. Most states include the list in their handbooks. Some states post them as a separate listing on their unclaimed property page."

    The states have the right to determine which codes they wish to use. If you use a software such as UPExchange, we make it very easy to check which codes are accepted by each state. Go to the Resources tab, click on the specific state, then click the Property Codes link. If a code is not listed here, it is not accepted by that state. If you use another software provider, check with them to see where you can get the state specific lists to use.

  • Guest
    Wanda Keplar Monday, 24 September 2012

    court restitution payments

    I am having some issues with Court Victim restitution payments. Not all states have a property code for these payments. Some states have you send these types of payments some where other than their unclaimed property unit. Is there a resource that is used to know how each State handles these type payments? Right now I have to email each State that I am dealing with and that is a lot of time spent.

  • Danielle Herring
    Danielle Herring Monday, 24 September 2012

    Resource

    Wanda,

    The software providers all include lists of valid property codes by state in their tables. If you are using a software vendor, you could easily find the states that have 'Restitution' as a code. A lot of states would have you put this under CT05 'Other Court Deposits' if there is no code specifically for restitution. I'm not aware of any other source that lists all possible property codes for every state.

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