Reporting Requirements - File your 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.
4. File your report.
If your efforts to locate the owners fail please use the following instructions to transmit the funds to the Arizona Department of Revenue Unclaimed Property Unit who is then responsible for safeguarding the funds, attempting to locate the owners, publicizing the names of apparent owners who cannot be located otherwise, and returning the assets to the owners as they come forward.
By completing your annual report, you are not only complying with Arizona Revised Statutes, Title 44, Chapter 3, you are performing a valuable service to our citizens by helping to protect their unclaimed property. We ask that you adhere to the procedures and forms included in this booklet.
- There is now a different report cover page for each type of property you are reporting:
- 650A – Cash only
- 650B - Securities, Dividends and Proceeds
- 650C - Safe Deposit Box Contents
- It is important that you familiarize yourself with the instructions for reporting securities before you transfer or re-register any stock/mutual fund.
- It is important that you review the payment protocol for each relationship type that you report. You are responsible for choosing the code that correctly reflects the named person’s relationship to the property.
- Include all known owner identifiers for each property
- Social Security or Tax ID Numbers
- Dates of Birth
- Policy, account or check numbers
The more information the State receives with your report the less likely they are to contact you each time a claim is filed, or to refer claimants to your escheatment specialist, for additional information.
Safe Deposit Box
Tangible property that is held in a safe deposit box are presumed abandoned if the property remains unclaimed by the owner for more than three years after the expiration of the lease or rental period on the box.
The State of Arizona accepts electronic reports via CD, DVD or USB flash drive. The reports must be in NAUPA Standard Electronic File Format.
Method of payment
All checks must be made payable to “Arizona Department of Revenue, Unclaimed Property Unit” for the total amount listed on the Report of Unclaimed Property. Your remittance must be in U.S. currency. Foreign currency cannot be accepted.
- Do not make checks payable to the original owner or include the original owner’s name in the payee section of the check.
- Do not send the original instrument that was issued to the owner. This office can only deposit checks made payable to the Arizona Unclaimed Property Unit and include your FEIN.
- Do not submit an individual check for each property being reported.
- Alert the Unit at [email protected] if check or report is being mailed under separate cover or the check will be returned unprocessed.
Wire Transfer Instructions
You MUST send an email to [email protected] and [email protected] with the wire information at least one day prior to sending the funds. Do not send payment via ACH as you may with your tax account. Unclaimed Property only accepts payment via check or wire.
Bank Name: Bank of America
Bank Address: 201 East Washington Phoenix, AZ 85004
Account Name: ADOA/DOR
Account Number: 412715057
Routing Number: 026009593
Description: Arizona Unclaimed Property / (include FEIN #)