Reporting Requirements - Determine when to report
All businesses, except life insurance companies, are required to report and remit unclaimed property before November 1 of each year. Life insurance companies are required to report and remit before May 1 of each year. The verification period includes all abandoned property prior to June 30 but no later than July 1 of the previous year.
2. Determine when you need to report the property.
Property becomes unclaimed if the holder cannot reach the owner for a specified time period, usually between one and three years. Check the table below for specific dormancy and abandonment periods:
When to file
In Arizona, a life insurance company that is a holder of property that is presumed abandoned shall file its report by May 1, and the report shall cover the prior calendar year. Any other holder of property that is presumed abandoned shall file the report by November 1 and the report shall cover the last twelve months before July 1 of that year. A holder may also make a one-time election to annually report the property at the same time it reports its income for the purposes of income tax pursuant to Title 43.
Requests for an extension of time for filing a Report of Unclaimed Property must be submitted to the Holder Compliance Unit in writing prior to either April 1 or October 1 (whichever applies). Please include the entity's FEIN and length of time needed with the request.
