Reporting Unclaimed PropertyAnnual reporting deadline for all Holders is November 1st. The reporting deadline for life insurance companies only is May 1st. 1) NEW PROPERTY TYPE CODES IN EFFECT Indiana has adopted new codes in uniformity with the revised NAUPA Standard Electronic File Format ("NAUPA II Standard") that was nationally published on December 8, 2010. All November 1 reports must comply with this update. Failure to apply relevant codes will result in report failure. Download code list here. 2) CHANGE OF HOLDING PERIODS FOR CERTAIN PROPERTIES - AMENDMENT TO I.C. 32-34-1-20 (12) AND (13) All reports due November 1, 2011 should reflect CY06-CY07-CY08*. The report cut-off is June 30th.
Unclaimed Property Laws and Rules NAUPA codes & Dormancy periods for Property Typesnew* NAUPA Codes for Property Owner Relationship Types Sample Due Diligence Form Letter Negative (Zero) Reporting Download "Managing Unclaimed Property" PDF Download "Online Reporting Guide" PDF Extension Request Form PDF Under Indiana law, almost every business organization (and government body) is required to report and remit unclaimed property to the Indiana Attorney General's Unclaimed Property Division whenever the property owner cannot be found. Holders are businesses, organizations, and any other entity in possession of unclaimed property. Unclaimed assets are considered abandoned when the property has been inactive for one to fifteen (1-15) years (depending on property type), and attempts by the holder to contact the owner through the due diligence process have been unsuccessful. Businesses that fail to comply with the Unclaimed Property Act will be charged interest and are subject to additional penalties. |
