Financial Software Innovations, Inc

Unclaimed Property

By Corky Cootes

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2020 sure has been something, and the fun isn’t over yet: the big fall deadline for unclaimed property reports is fast approaching, but this year October 31 and November 1 fall on a Saturday and a Sunday respectively. Will this cause any changes to your unclaimed property reporting process?

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If all has gone according to plan, no. In general, as long as you have given sufficient time for owners to respond to your due diligence mailing, you can file your unclaimed property report any time between now and the end of October. For those that like to take it closer to the wire, most jurisdictions will allow reports to be submitted on November 2, without penalties or interest.

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However, there are states that are not so lenient, and require the report to be in their office on October 30th, the Friday before the weekend: Arkansas, Idaho, and Washington.

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Nevada, which is an online-only state, requires the report to be submitted no later than Saturday, October 31.

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Iowa, Indiana and Wyoming require that the report be postmarked by Sunday, November 1, while North Carolina requires the report to be in their office by November 1.

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Finally, here are the states that I have personally confirmed will accept reports on November 2: AK, AL, AZ, CA, DC, GA, IL, KS, KY, MA, MD, ME, MO, MS, MT, ND, NE, NH, NJ, OH, OK, OR, SD, TN, TX, UT, WI, WV.

Unclaimed Property Filing Deadlines 2020: Weekend Edition

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