We help businesses ensure compliance per state law
Become familiar with your state's requirements
Laws and reporting deadlines vary by state
Each state has its own statutes guiding the reporting of unclaimed property by business and organizations, and the laws are constantly changing. NAUPA remains active in the legislative process across the United States to help ensure individuals, businesses, and organizations are protected by unclaimed property laws and statutes.
- Important: Many organizations have property to report in multiple states. In these cases, be sure to become educated on the requirements for each state in which you are reporting.
More information on laws and statutes per state are available via each state’s official unclaimed property program website. View a listing of state programs
Reporting process at a glance
While each state is unique, the general reporting process consists of the following three steps:
Identify unclaimed property
When property reaches the end of the dormancy period (established by the state) with no contact with the owner, then—by law—the organization must identify and report the unclaimed property.
Attempt to contact the owner
Organizations must make a good-faith effort to reach the owner of the property before turning it over to the state for safekeeping. Attempts may be made by letters, phone calls, electronic communications, or other methods.
Report property to the state
If no contact with the owner has been made, then the organization must prepare and submit to the state an unclaimed property report. Most states require that the report follow the NAUPA standard format and specifications.
Access reporting information for each state
For your convenience, NAUPA provides full state profiles
- Unclaimed property department profile and key contacts
- Official reporting website
- Dormancy periods for each property type
- Reporting due dates
- Electronic reporting capabilities
- Plus, browse all state dormancy periods by property type!
NAUPA Standard Electronic File Format
For more than two decades, NAUPA has established and approved a set of codes in a uniform format to make electronic reporting more consistent. This is especially beneficial to organizations who file reports in multiple states.
Free Holder Reporting Software
There are numerous private holder reporting software options on the market. It is important to select software which will produce a report in the NAUPA standard electronic format. State unclaimed property programs accept the free reporting software HRS Pro (basic version), which produces a report in NAUPA standard electronic format.
NAUPA Holder Trainings
Unclaimed.org Holder Resources
The training will provide a tour of the unclaimed.org website and its resources relevant to unclaimed property reporting. It will cover how to search for property, state-specific reporting information, accessing the NAUPA file format and understanding multiple owner relationship codes. The training will also highlight additional resources available on the website for the holder community.
What Is Unclaimed Property
The training will cover the basics of unclaimed property, including definitions, types, and reasons for the law. It will address common myths, holder responsibilities, and historical context.
Due Diligence
The training will cover the basics of due diligence, including what it is and why it's important. It will discuss how to determine if property is unclaimed and provide a step-by-step guide to conducting due diligence. It will also address common questions and provide tips for effective communication with owners.
Filing and Reporting
The training session will cover the filing and reporting of unclaimed property, including electronic and paper reporting, common errors, data integrity issues, and resources available. It will also address property reported in error, holder reimbursement, and the importance of developing an unclaimed property program within an organization.
Establishing a Compliance Plan
This training will cover the essentials of establishing a compliance plan for unclaimed property, starting with a general overview and delving into the key steps in creating a comprehensive plan. The training will also touch on best practices for preventing unclaimed property accumulation and complying with varying state regulations.
Mergers and Acquisitions
This training focuses on unclaimed property considerations during mergers and acquisitions (M&A). It will cover the different types of M&A transactions, the implications for unclaimed property priority rules, how to assess unclaimed property exposure for both the seller and acquirer, and best practices for record retention and compliance. Learn the importance of understanding the impact of M&A on unclaimed property reporting responsibilities to ensure accurate compliance and avoid potential liabilities.
More Coming Soon...
Other Resources
NAUPA Holder Request For Reimbursement Form
Form and instructions to submit a reimbursement request to all NAUPA member unclaimed property programs.
NAUPA Holder Reporting Recommendations for Unclaimed IRAs
On January 1, 2020, The Internal Revenue Service’s Revenue Ruling 2018-17 went into effect concerning withholding and reporting taxes with respect to payments from Individual Retirement Accounts (“IRAs”) to state unclaimed property programs. Holders reporting these properties should make use of the NAUPA Standard Deduction and Withholding code “TW” to represent “Income Tax Withheld.”
Arkansas Holder Training – September 30th
Are you tasked with the responsibility of unclaimed property reporting and compliance for your organization? Are you unsure of recent state regulatory changes and how they impact your organization? Are you unsure of your organizations obligations? If so, Arkansas State Auditor Dennis Milligan would like to invite you to join us for a free unclaimed property educational seminar to have your questions answered.