States that have a unique report due date for Holders:
REPORT DUE DATE
STATE
March 1
Delaware
March 10
New York
March 31
Connecticut
April 15
Pennsylvania
April 30
Florida
May 1
Illinois
May 1
Vermont
July 1
Michigan
July 1
Texas
A Holder may or may not have unclaimed property due to any of the above mentioned States. But it’s a good idea to check and see. Note: most of the dormancy periods for the above mentioned States are going to be 3 or 5 years, depending on the type of property and State. For all other States, the report due date is either in the Fall or Spring, depending on the Holder & Property type. For further information regarding reports or unclaimed property compliance issues, please contact the professionals at PEACC by calling 410.303.5510 or email us at info@peacc.com
Call PEACC for Compliance
Unique Unclaimed Property Report Due Dates January 23rd, 2025peaccadmin
Now that your fall unclaimed property reporting is complete, your PEACC Team of Advisors would like to announce Delaware is schedule to send out the next round of VDA invitations on November 15, 2024. The State last sent invitation letters out in February 2024.
If your organization receives a VDA (Voluntary Disclosure Agreement) invitation Letter from Delaware and fails to timely respond, you will become eligible for the dreaded, unclaimed property audit. Contact the professionals at PEACC to discuss your options, along with the process, at 410.303.5510.
Reason Why Your Unclaimed Property Report was Rejected –
There a numerous reasons why a State may reject your annual unclaimed property report, including non-compliance –
Certain States require specific information be included on their State unclaimed property reports, including that they be in the appropriate format in order that they are accepted. – California and Florida will reject reports if payroll property is lacking the Owner’s social security number. – Tennessee requires that the NAICS be included on all uploaded unclaimed reports – Tennessee, Washington, District of Columbia and Delaware are just a few of the State entities that require all state reports be uploaded to their State website portal – When reporting property type Mineral Proceeds, certain States, including, Texas, Arkansas and Oklahoma require the well name, well number and well location be included on all State reports when reporting Mineral Royalties or the report may be rejected. – Alabama, Nevada and Tennessee are a few of the States, where if the remittance is not received electronically, the report will be rejected and returned to the Holder. – Spelling and not listing the property clearly on the State report may cause rejections and for the report to be returned back to the Holder. – Reports not received by the States deadline (in most cases before November 1 or May 1 each year) may also be rejected and returned to the Holder. As you can see, there are numerous reasons why a State report may be rejected. Protect your company while saving time and money by contacting PEACC now to determine how not to have your report rejected. Please call 410.303.5510 or email info@peacc.com. We’ll be glad to assist!
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Reason Why Your Unclaimed Property Report was Rejected January 14th, 2025peaccadmin
