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STATE OF GEORGIAUNCLAIMED PROPERTYANNUAL FILING REPORTREPORT YEAR 201806/2018
REPORTING 25 OR MORE ACCOUNTS?FREE SOFTWARE TO FILE ELECTRONICALLYHRS PRO LOCATED ATHTTP://WWW.WAGERS.NETUSER’S GUIDE FOR THIS PROGRAM ISAVAILABLE ON THE WEBSITE. THE PROGRAMHAS AN EXCEL TEMPLATE THAT ALLOWS YOUTO PLACE INFORMATION INTO AN EXCEL FILEAND THEN IMPORT IT INTO THE NATIONALASSOCIATION OF UNCLAIMED PROPERTYADMINISTRATORS (NAUPA) FORMATPROGRAM.FOR MORE INFORMATION EMAIL US ATUCP.REPORTING@DOR.GA.GOVPHONE: (855) 329-9863
UNCLAIMED PROPERTYINTRODUCTIONThe Disposition of Unclaimed Property Act, O.C.G.A. Section 44-12-190 et. seq., (the "Act") protects therights of owners of abandoned property and relieves those holding the property of the continuingresponsibility to account for such property. Under the Act, when someone (“holder”) holds property thatbelongs to some-one else (“owner”) but has lost contact with that owner for a specified period of time(“dormancy period”), that holder must turn over (“remit”) the property to the state. The remittance must beaccompanied by a report describing the property and contain certain information that will help the stateadvertise the property and take other steps to return the property to the rightful owner. The state servesas custodian for any property remitted under the Act, allowing the owners or their heirs an opportunity toclaim their property in the future.This booklet contains reporting forms and instructions to help holders comply with the Act. See the tableof contents for the appropriate form for your entity.Please note that some holders may need to submit more than one report type. Each individual reportshould be accompanied by a separate CD and remittance.EXAMPLE: A bank reporting cash, safe deposit box contents and securitiesShould file three (3) separate reports, CD’s and remittances.(see forms and instructions)Entities with no property to remit are required to file a negative report. Please see table of contents forthese forms and instructions.WHO MUST REPORTAnyone that has abandoned property must remit it to the state if they have held the property for longer thanthe dormancy period. The Unclaimed Property Act applies to both for-profit and non-profit businesses aswell as governmental entities. Holders incorporated in Georgia must report to this state any unclaimedproperty of owners having a Georgia address, or an incomplete, unknown or foreign address. Holders notincorporated in Georgia must remit unclaimed property belonging to an owner having a Georgia address.Unclaimed Property Time LineALL HOLDERS (EXCEPT INSURANCE COMPANIES)July 1, 2017 - June 30, 2018(Report items reaching dormancyduring this time)July 1, 2018 - September 1, 2018(no less than 60 days, no morethan 120 days)REPORTINGPERIODHOLDERS TRY TO LOCATE OWNER(NOTIFICATION PERIOD)November 1, 2018REPORT & REMITTANCE DUEINSURANCE COMPANIESJanuary 1, 2018 - December 31, 2018January 1, 2019 - March 1, 2019(no less than 60 days, no morethan 120 days)May 1, 2019If you are filing for the first time, the report should include all propertydated prior to June 30, 2013.1
STEPS FOR FILING YOUR ANNUAL UNCLAIMED PROPERTY REPORTSTEP 1: IDENTIFY THE UNCLAIMED PROPERTY required to be remitted to the Georgia Department ofRevenue, Unclaimed Property Program. Examples of property to be remitted to the state as unclaimedproperty include savings and checking accounts, unclaimed wages, dividends, credit balances and outstanding checks. For a complete listing of the types of property that must be remitted under the Act, refer toPage 3.STEP 2: ATTEMPT TO LOCATE THE OWNERS OF THE UNCLAIMED PROPERTY IDENTIFIED IN STEP1. This process is defined as “due diligence." If an account has a value of 50 or more, the law requiresthat holders must make an effort to communicate with an owner prior to remitting the property to the state.You can do this by sending a first class letter to the owner’s last known address at least 60 days, but nomore than 120 days, before remitting the owner’s property to the state. A sample due diligence letter can befound on Page 5.STEP 3: SEND YOUR REPORT AND CHECK PAYABLE TO the Georgia Department of Revenue,Unclaimed Property Program. Insurers must file by May 1. All other holders must file by November 1.SECURITIES: Securities must be transferred to Georgia’s custodial account with Well Fargo Advisors, DTCNumber 0141, Account Number 7888-0087. DTC Transfer Form UP-3S must accompany the Holder SummaryReport. See table of contents for forms and instructions for remitting securities.Example Property TypesSee Page 3 for complete PERIODLAST ACTIVITYDATENOTIFICATIONPERIODREPORT &REMIT DUECorporationUnclaimedWages1 Year7/1/17- 6/30/187/1/16 - 6/30/177/1/18 - 9/1/1811/1/18InsuranceCompanyUnc. MaturedPolicy Benefits5 Years1/1/18 - 12/31/181/1/13 - 12/31/131/1/19 - 3/1/195/1/19BanksSavingsAccounts5 Years7/1/17 - 6/30/187/1/12 - 6/30/137/1/18 - 9/1/1811/1/18CorporationUncashedTravelers Cks.15 Years7/1/17 - 6/30/187/1/02 - 6/30/03N/A11/1/18EXAMPLE (A)If you are a corporation and have identified uncashed payroll checks dated 7/1/16 - 6/30/17, you shouldreport them as unclaimed property for the reporting period 7/1/17 - 6/30/18. You should attempt to notify thepayee of the check at the last known address between 7/1/18 and 9/1/18. If these attempts fail, you mustremit the face amount of each unclaimed payroll check with the report you file by 11/1/18.EXAMPLE (B)If you are an insurer and have identified uncollected matured policy benefits dated 1/1/13 - 12/31/13, youshould report them as unclaimed property for the reporting period 1/1/18 - 12/31/18. You should attempt tonotify the insured/beneficiary at the last known address between 1/1/19 and 3/1/19. If these attempts fail,you must remit the policy value with the report you file by 5/1/19.2
PROPERTY CODES WITH DORMANCY PERIODSCODEYEARSAccount BalancesAC01AC02AC03AC04AC05AC06Checking AccountsSavings AccountsMatured CD or Savings CertificatesChristmas Club FundsDeposit to Secure FundsSecurity Deposits55AC99 Aggregate Account Balance Due5Official ChecksCashier’s ChecksCertified ChecksTreasurer’s ChecksDraftsWarrantsMoney OrdersTraveler’s ChecksForeign Exchange ChecksExpense ChecksPension ChecksCredit Checks or MemosVendor ChecksChecks Written Off to IncomeOther Outstanding Official ChecksCD Interest ChecksAggregate Uncashed Checks55555715555555555Educational Savings Accounts (includes CoverdellEducational Savings Accounts and College Savings Plans)CS01 CashCS02 Mutual FundsCS03 SecuritiesCS04 Reserved for Educational Savings Accounts (CodeReserved for future use)555Court FundsCT01CT02CT03CT04CT05CT99Escrow FundsCondemnation AwardsMissing Heirs’ FundsSuspense AccountsOther Court or Public Authority FundsAggregate Court Deposits555555Health Savings PlansHS01 Health Savings AccountHS02 Health Savings Account N08IN09IN99Individual Policy Benefits of ClaimsGroup Policy Benefits or ClaimsProceeds Due BeneficiariesProceeds from Matured PoliciesPremium RefundsUnidentified RemittancesOther Amounts Due Under PolicyAgent Credit BalancesLimited AgeAggregate Insurance Property5555555525Traditional IRA, SEP IRA, SARSEP IRA and SIMPLE IRAIR01 CashIR02 Mutual FundsIR03 SecuritiesIR04 Reserved for Traditional IRA, SEP IRA, SARSEP IRAand SIMPLE IRA (Code reserved for future use)555MI01 Net Revenue InterestMI02 RoyaltiesMI03 Overriding RoyaltiesMI04 Production PaymentsMI05 Working InterestsMI06 BonusesM107 Delay RentalsMI08 Shut-In RoyaltiesMI09 Minimum RoyaltiesMI99 Aggregate Mineral Interests5555555555555Safe Deposit/SafekeepingSD01 Safe Deposit Box ges, Payroll, SalaryCommissionsWorkers’ Compensation BenefitsPayment for Goods and ServicesCustomer OverpaymentsUnidentified RemittancesUnrefunded OverchargesAccounts PayableCredit Balances/Accounts ReceivableDiscounts DueRefunds DueUnredeemed Gift CertificatesUnclaimed Loan CollateralPension and Profit Sharing PlansDissolution or LiquidationMiscellaneous Outstanding ChecksMiscellaneous Intangible PropertySuspense LiabilitiesAggregate Miscellaneous Property1155555555555515555SecuritiesSC01 DividendsSC02 Interest (Bond Coupons)SC03 Principal PaymentsSC04 Equity PaymentsSC05 ProfitsSC06 Funds Paid to Purchase SharesSC07 Funds for Stocks of SuccessorSC08 Shares of Stock (Returned by PO)SC09 Cash for Fractional SharesSC10 Unexchanged Stock of SuccessorSC11 Other Certificates of OwnershipSC12 Underlying/Outstanding SharesSC13 From Liquidated/Redemption of StockSC14 DebenturesSC15 US Government SecuritiesSC16 Mutual Fund SharesSC17 Warrants (Rights)SC18 Matured Bond PrincipalSC19 Dividend Reinvestment PlansSC20 Credit BalancesSC21 Distributions-Mutual FundsSC99 Aggregate Securities-Related5555555555555555555555Trust PropertyTR01TR02TR03TR04TR05TR99Paying Agent AccountsUndelivered or Uncashed DividendsFunds Held in Fiduciary CapacityEscrow AccountsTrust VouchersAggregate Trust Property555555UtilitiesUT01UT02UT03UT99Roth IRAIR05 CashIR06 Mutual FundsIR07 SecuritiesIR08 Reserved for Roth IRA (Code reserved for future use)YEARSMineral Proceeds555555AC07 Unidentified DepositsAC08 Suspense 12CK13CK14CK15CK16CK99CODEUtility DepositsMembership FeesRefunds or RebatesAggregate Utility Property5555All Other PropertyZZZZ Properties Not Identified Above35
OWNER RELATIONSHIP CODESRELATION TYPE CODERELATION TYPE CODEADAdministratorAFAttorney ForAGAgent todian ForCNConservatorEXExecutor or ExecutrixFBFor Benefit OfGRGuardian ForINInsuredJCJoint Tenants in CommonJTJoint Tenants with Right of SurvivorshipOROrPPrimary OwnerPAPayeePOPower of AttorneyRERemitterSOSole OwnerTEAs Trustee ForUGUniform Gift to Minors Act (UGMA)4
SAMPLE LETTER FOR OWNER NOTIFICATION(Due Diligence)July 1, YEARRay Smith (Owner Name4321 Right Ave.City Name, State 98765RE: (Description of PropertyDear Mr. Smith:Our records indicate that we are holding the following property due to you:Owner NameSocial Security #Identifying #DescriptionPlease complete the statement at the bottom of this letter to indicate your understanding ofthis property and mail to:HOLDER NAMECONTACT PERSON OR DEPARTMENTHOLDER ADDRESSCONTACT PHONE NUMBER (OPTIONALYou must return this letter by (DATE. If you fail to do so, we will deliver your property to theGeorgia Department of Revenue, Unclaimed Property Program as required by law. After thisdate, any attempts to reclaim your property will need to be directed to the Georgia Department ofRevenue.Sincerely,Unclaimed AccountsSTATEMENTThis property belongs to me.This property does not belong to me.SIGNATUREDATE5
FOR MORE INFORMATION EMAIL US AT UCP.REPORTING@DOR.GA.GOV PHONE: (855) 329-9863. UNCLAIMED PROPERTY 1 . should be accompanied by a separate CD and remittance. EXAMPLE: A bank reporting cash, safe deposit box contents and securities . SC03 Principal Payments5 SC04 Equity Payments5 SC05 Profits 5
