Florida Regulations 69G-20.034: REPORT OF UNCLAIMED PROPERTY
Current as of: 2024 | Check for updates
|
Other versions
(1) The Department has established the Holder Reporting Online System that can be securely used by all holders to report unclaimed property to the Division of Unclaimed Property. The Holder Reporting Online System can be accessed at the Department’s website.
(2) All persons subject to the Florida Disposition of Unclaimed Property Act shall file a report of unclaimed property with the Department, pursuant to Florida Statutes § 717.117, upon becoming subject to the filing requirement of chapter 717, F.S., and each year thereafter, including zero reports, where applicable, unless:
(a) Written justification has been received from a holder by the Department stating, but not limited to, the following reasons:
1. The holder is filing a complete and accurate report with another state that has adopted the current National Association of Unclaimed Property Administrators (NAUPA) Reciprocity/Exchange guidelines;
2. The holder is located outside Florida and does not conduct business in Florida in its day-to-day operations;
3. The holder maintains a fiduciary relationship with its clients such as real estate brokers and attorneys and does not, as a normal course of business, maintain unclaimed property; or
4. The holder lacks access to the Internet at the holder’s place of business as demonstrated in a writing submitted to the Department, and the Department subsequently prescribes an alternative medium to file the unclaimed property report for the report year.
(b) Upon receipt of a written request, the Department, after a review, may place the holder in an inactive status.
(3) Holders reporting 25 or more apparent owners shall file a report of unclaimed property using the electronic report format option on the Department’s Holder Reporting Online System.
(4) Holders reporting less than 25 apparent owners shall file a report of unclaimed property using the manual input option or the electronic report format option on the Department’s Holder Reporting Online System.
(5) The report of unclaimed property shall be considered filed only upon receipt of both the funds and the electronic report or the manual input report filed through the Department’s Holder Reporting Online System.
(6) Non-compliant reports will be returned to the holder.
Rulemaking Authority 717.117(1), 717.138 FS. Law Implemented 717.117, 717.119, 717.134, 717.138 FS. History-New 6-23-91, Amended 8-29-94, 2-12-97, Formerly 3D-20.034, Amended 4-20-16, Formerly 69I-20.034.
Terms Used In Florida Regulations 69G-20.034
- Fiduciary: A trustee, executor, or administrator.
(a) Written justification has been received from a holder by the Department stating, but not limited to, the following reasons:
1. The holder is filing a complete and accurate report with another state that has adopted the current National Association of Unclaimed Property Administrators (NAUPA) Reciprocity/Exchange guidelines;
2. The holder is located outside Florida and does not conduct business in Florida in its day-to-day operations;
3. The holder maintains a fiduciary relationship with its clients such as real estate brokers and attorneys and does not, as a normal course of business, maintain unclaimed property; or
4. The holder lacks access to the Internet at the holder’s place of business as demonstrated in a writing submitted to the Department, and the Department subsequently prescribes an alternative medium to file the unclaimed property report for the report year.
(b) Upon receipt of a written request, the Department, after a review, may place the holder in an inactive status.
(3) Holders reporting 25 or more apparent owners shall file a report of unclaimed property using the electronic report format option on the Department’s Holder Reporting Online System.
(4) Holders reporting less than 25 apparent owners shall file a report of unclaimed property using the manual input option or the electronic report format option on the Department’s Holder Reporting Online System.
(5) The report of unclaimed property shall be considered filed only upon receipt of both the funds and the electronic report or the manual input report filed through the Department’s Holder Reporting Online System.
(6) Non-compliant reports will be returned to the holder.
Rulemaking Authority 717.117(1), 717.138 FS. Law Implemented 717.117, 717.119, 717.134, 717.138 FS. History-New 6-23-91, Amended 8-29-94, 2-12-97, Formerly 3D-20.034, Amended 4-20-16, Formerly 69I-20.034.