Report and Remit Unclaimed Property It is rare for any organization NOT to have unclaimed property because unclaimed property results from normal business operations. Here is a list of questions and answers to assist your organization in determining if it should and how it should report and remit unclaimed property. Where do I find unclaimed property? What must happen before I report the unclaimed property to the Division of Unclaimed Property? Are there minimum amounts that do not need to be reported? Who must report abandoned property? What are the dormancy periods for unclaimed property? How long should records relating to unclaimed property be kept? What if I don't have detail records documenting whom the property belongs to? What if I don't have records documenting abandoned property? When do I report the abandoned property? How do I submit security transfers? How can I get an Unclaimed Property Report Form?

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Unclaimed Property Report Forms

The following are some general areas where unclaimed property may be found:

• Stale outstanding checks - checks written represent an attempt to pay a valid obligation. If a check does not clear the bank, the underlying liability is unclaimed property if it cannot be restored to the payee.
• Liabilities written off to an income or other account - if valid obligations have been written off to an income or expense account in the past, they must be reinstated and reported as unclaimed property.
• Other stale liabilities in the general ledger - these are recorded obligations for which no check was issued. Examples are customer deposits or overpayments, account's receivable overpayments, unidentified receipts or dividends payable.
• Securities and related property held by agents - many shareholders fail to cash dividend checks. Also, there are unexchanged/undelivered shares that occur from splits and mergers.

If the owner is due $50 or more, an attempt to locate the owner, known as due diligence, must be performed before remitting the property. A letter detailing the amount due the owner and requesting a positive confirmation from the owner should be sent to the owners last known address or new address if one is available. Other reasonable means of contact can be used in place of the letter.

No. The State of Missouri, Division of Unclaimed Property does not have the authority to establish any minimal amounts. There is nothing too small that does not require reporting. However, amounts due an owner that total less than $50 for the owner may be reported in aggregate. That is, the amounts due owners that are less than $50 may be summed and reported as one aggregate for that property type. Since our goal is to return the property to the rightful owner, if detail is available, we encourage you to report it. The holder should retain owner detail for at least five years after the dormancy period.

Any entity doing business in the State of Missouri or doing business with individuals in the State of Missouri must report abandoned property. This includes, but is not limited to, banks, credit unions, utility companies, wholesalers, retailers, manufactures, governmental entities, insurance companies, public corporations, public authorities and estates and trusts.

5 years - all types of property, except:

• State agencies, political subdivisions and government entities - 3 years
• Court bonds - 1 year
• Dissolution or liquidation of business - 2 years
• Money orders - 7 years
• Travelers checks - 15 years
• Demutualization, rehabilitation and reorganizations of insurance companies - 2 years

As per RSMo 447.539.9, records containing owner-level detail should be kept for a period of not less than five years subsequent to reporting the property to the state. For property with a seven-year dormancy period, detail records should be kept at least 12 years.

When owner-level detail is not available for the unclaimed property, report the amounts as owner unknown.

If records have not been kept relating to unclaimed property, then the abandoned property amount to report must be estimated using Generally Accepted Accounting Principles. Please contact (Unclaimed Property Divison) our office for assistance on calculating the abandoned property amount when records do not exist.

Reporting dates are:
November 1, using a June 30 cut off - all holders except Life Insurance Companies
May 1, using a December 31 cut off - LIFE INSURANCE ONLY

Shares of stock may be delivered to the state in certificate form or by electronic transfer. Please do not transfer shares into book entry or dividend reinvestment program accounts. Some mutual fund shares may be eligible for electronic transfer. Otherwise, please use the information listed in item 3 to transfer shares into an account you have set up in the name of the Missouri State Treasurer.

1. Fax pre-notification of electronic transfers of securities to our custodian at:
Central Bank Investments
ATTN: Ginni Weavers
Fax #: (573) 634-1359
(Include: Issue Name, Number of shares, Date of Transfer, Contact Name, Contact Phone Number)

2. For transfer details please send e-mail to: Security Transfers

3. Register Physical Securities (including mutual fund shares) as follows:
Office of the Missouri State Treasurer
Unclaimed Property Division
PO Box 1272
Jefferson City, MO 65102-1272
FEIN: 43-1645862

To obtain a Missouri Unclaimed Property Report Form, download the text version below or contact the Division of Unclaimed Property at P.O. Box 1272, Jefferson City, MO 65102-1272 or via e-mail. If you've previously reported unclaimed property to Missouri, you may already be on the annual mailing list. Those on the mailing list will automatically receive reminder postcard in the early fall. Insurance companies on the list will receive their postcards in the early spring.

Alternatively, holders may choose to design their own report containing all of the required information (subject to division approval), or they may choose to report via diskette. Holders can download Missouri's Holder Reporting System program (HRS) or obtain the nationally accepted NAUPA format from the Wagers & Associates Incorporated Web site at www.wagers.net