August 17, 2001
CLIENT ALERT
As a client of PetroAcct and a courtesy to future clients, we would like to inform you of the Escheat Reporting requirements of all States. Escheat reporting is due to each state in which your company has unclaimed funds or property due individuals living in that state. This could be due to no address or an incorrect address of the individual and these funds could be relative to both Revenue distributions or payment on Accounts Payable.
The table below identifies:
- Report due date
- The number of years to accumulate in the report
- The cut-off date to use for the report
- The aggregate minimum amount to report
- The relative state statute addressing the reporting of unclaimed funds or property
|
STATE |
REPORT
DUE |
YEARS
ACCUM. |
CUT-OFF
DATE |
AGG.
UNDER |
STATUTE |
|
Alabama |
10/31 |
5 |
6/30 |
$10 |
35-12-29
35-12-31 |
|
Alaska |
10/31 |
5 |
6/30 |
$100 |
34.45.110
34.45.280 |
|
Arizona |
10/31 |
5 |
6/30 |
$50 |
44-302
44-307 |
|
Arkansas |
10/31 |
5 |
6/30 |
$50 |
18-28-202
18-28-207 |
|
California |
10/31 |
3 |
6/30 |
$50 |
CCP 1520
CCP 1530 |
|
Colorado |
10/31 |
5 |
6/30 |
$25 |
38-13-103
38-13-110 |
|
Connecticut |
4/1* |
3 |
12/31 |
$50 |
3-64a
3-65a |
|
Delaware |
3/1 |
5 |
12/31 |
$50 |
12-1197
12-1199 |
|
Dist. of Col. |
10/31 |
3 |
6/30 |
$50 |
42-203
42-217 |
|
Florida |
4/30 |
5 |
4/30 |
$50 |
717.102
717.117 |
|
Georgia |
10/31 |
5 |
6/30 |
$50 |
44-12-193
44-12-214 |
|
Hawaii |
10/31 |
5 |
6/30 |
$50 |
523A-2
523A-17 |
|
Idaho |
10/31 |
5 |
6/30 |
$0 |
14-502 &
517 |
|
Illinois |
4/30 |
5 |
12/31 |
$25 |
76ILCS 1025/9&11 |
|
Indiana |
10/31 |
7 |
6/30 |
$50 |
32-9-1.5-20(15)
32-9-1.5-26 |
|
Iowa |
10/31 |
3 |
6/30 |
$25 |
556.9 &
11 |
|
Kansas |
10/31 |
5 |
6/30 |
$100 |
58-3935
58-3950 |
|
Kentucky |
8/1 |
7 |
7/1 |
$100 |
393.090
393.110 |
|
Louisiana |
10/31 |
2 |
6/30 |
$50 |
RS9:154
RS9:159 |
|
Maine |
10/31 |
5 |
6/30 |
$50 |
33-1953
33-1958 |
|
Maryland |
10/31 |
5 |
6/30 |
$100 |
Com Law 17-308 & 310 |
|
Massachusetts |
11/1 |
3 |
6/30 |
$100 |
200A-5 &
7 |
|
Michigan |
11/1 |
5 |
6/30 |
$50 |
567.223 &
238 |
|
Minnesota |
10/31 |
3 |
6/30 |
$100 |
345.39 &
41 |
|
Mississippi |
10/31
every 3rd yr. |
5 |
6/30 |
$100 |
89-12-15
89-12-23 |
|
Missouri |
10/31 |
7 |
6/30 |
$50 |
447.535
447.539 |
|
Montana |
10/31 |
5 |
6/30 |
$50 |
70-9-803
70-9-808 |
|
Nebraska |
10/31 |
3 |
6/30 |
$25 |
69-1307.04
69-1310 |
|
Nevada |
10/31 |
5 |
6/30 |
$50 |
120A.230
120A.250 |
|
New Hampshire |
10/31 |
5 |
6/30 |
$50 |
471-C:2 &
19 |
|
New Jersey |
11/1 |
5 |
6/30 |
$25 |
46:30-B 7,
47 & 49 |
|
New Mexico |
10/31 |
5 |
6/30 |
$50 |
7-8A-2 &
7 |
|
New York |
|
2 |
|
$20 |
APL 1310 &
1419 |
|
North Carolina |
2/28 |
5 |
6/30 |
$50 |
116B-21 &
29 |
|
North Dakota |
11/1 |
3 |
6/30 |
$50 |
47-30.1-16.1
47-30.1-17 |
|
Ohio |
10/31 |
1 |
6/30 |
$50 |
169.02 (N)
169.03 |
|
Oklahoma |
10/31 |
5 |
9/1 |
$50 |
60-661 &
658 # |
|
Oregon |
11/1 |
5 |
6/30 |
$50 |
98:342 &
352 |
|
Pennsylvania |
4/15 |
7 |
12/31 |
$25 |
72:1301.10
72:1301.11 |
|
Rhode Island |
10/31 |
3 |
6/30 |
$50 |
33-21.1-2
33-21.1-17 |
|
South Carolina |
10/31 |
5 |
6/30 |
$50 |
27-18-30
27-18-180 |
|
South Dakota |
10/31 |
5 |
6/30 |
$50 |
43-41B-2 &
B-18 |
|
Tennessee |
5/1 |
5 |
12/31 |
$50 |
66-29-112
66-29-113 |
|
Texas |
11/1 |
3 |
6/30 |
$50 |
Prop C 72.101
& 74.101 |
|
Utah |
5/1 |
5 |
12/31 |
$25 |
67-4a-214
67-4a-301 |
|
Vermont |
4/30 |
5 |
12/31 |
$25 |
27-1218
27-1220 |
|
Virginia |
10/31 |
5 |
6/30 |
$100 |
55-210.2:1
55-210.12 |
|
Washington |
10/31 |
5 |
6/30 |
$25 |
63.29.020
63.29.170 |
|
West Virginia |
10/31 |
5 |
6/30 |
$50 |
36-8-2 &
7 |
|
Wisconsin |
5/1 ** |
5 |
12/31 |
$50 |
177.02 &
17 |
|
Wyoming |
11/1 |
3 |
6/30 |
$50 |
34-24-117 &
118 |
* - 90 days from 1/1, so leap year is 3/31; # - 60-658.1 & 658.1A special report to State Treasurer; ** - report only in even number years
If you have any questions on this topic please contact your Client Manager. We thank you for your business and opportunity to assist you with this issue.
Respectfully Yours,
J. Michael Tissue
Executive Vice President
