All States require reports to be generated and submitted along with the remittance. Here are a few specifics that are required by certain States:
Stata Unclaimed Property Report Reminders:
~ Some States require the reports submitted to them be Notarized. Others require a specific Officer of the company (CFO/Comptroller) to sign them, certifying the report is accurate to the best of their knowledge.
~ All States required their reports are generated and submitted in the National Association of Unclaimed Property Association (NAUPA) format.
~ The majority of the States require Negative Reports be submitted when there is no property due to be reported for the year. Please note: submitting back to back Negative Reports may result in a unclaimed
property audit or State inquiry.
~ Can the State report be uploaded through the State website or does it need to be generated as a hard paper copy or CD and physically mailed into the individual State?
State Report Remit Specifics/Reminders:
~ Does the State accept payment for cash type property in: Check, ACH Payment or an Online Payment?
~ Securities related property: Does the State require up front/advanced notification?
~ Specifics payment of any reported Tangible related property or Bank Safe Deposit Box Contents.
For further explanation of State Reporting & Remittance specifics, please reach out to a professional at PEACC.com by calling 410.303.5510 or email us at: info@peacc.com
