Florida Regulations 69G-20.038: LATE ANNUAL REPORT(S), LATE PAYMENT(S), AND LATE DELIVERY OF ABANDONED PROPERTY
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(1) If the due date for filing the Report of Unclaimed Property prescribed under Florida Statutes § 717.117, falls on a Saturday or Sunday, the following Monday will be considered the due date. In the event the reporting or payment or property delivery date is an official State of Florida holiday under Florida Statutes § 110.117, the next business day will become the due date.
(2) No penalty shall be assessed on a late report that correctly reflects no property to be reported.
(3) A written request for an extension of time to file an unclaimed property report for the prior calendar year must be postmarked or filed with the Department by April 30th of the subsequent calendar year. A written request that is not timely postmarked or filed shall be denied. The Department shall review the facts and circumstances of each timely postmarked or filed written request on a case-by-case basis and, if the Department finds that the requestor has shown that good cause exists to grant an extension, the Department shall postpone the reporting date or extend the property delivery date for a period of up to sixty (60) days. For purposes of this subsection, “”good cause”” means:
(a) Natural disasters;
(b) Acts of war or terrorism;
(c) Report to be filed by the holder or its subsidiaries using an electronic medium for the first time;
(d) Significant changes in personnel;
(e) Corporate actions such as mergers, acquisitions, bankruptcy, etc.;
(f) System conversions, updates/changes in reporting software; or
(g) Change in third party administrator.
(4) A written request for a waiver of applicable penalties must be filed with the Department. The Department shall review the facts and circumstances of each filed written request on a case-by-case basis. A finding by the Department that good cause exists shall constitute appropriate justification to waive applicable penalties. For purposes of this subsection, “”good cause”” means:
(a) Natural disasters;
(b) Acts of war or terrorism;
(c) Initial report filed by the holder or its subsidiaries which was not induced by an examination from the Department or agents; or
(d) Penalty amount in excess of the reported amount;
(e) Penalty assessed in error; or
(f) System conversions, updates/changes in reporting software.
(5) Extensions for the reason set forth in paragraph (3)(d), above, shall be granted for one reporting period only within a three year time frame from the date of the first extension.
(6) The Department shall grant postponements, extensions and waivers in writing.
Rulemaking Authority 717.119(5), 717.138 FS. Law Implemented 717.117, 717.119, 717.134 FS. History-New 6-23-91, Amended 8-29-94, 1-28-97, Formerly 3D-20.038, Amended 4-20-16, Formerly 69I-20.038.
Terms Used In Florida Regulations 69G-20.038
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
(3) A written request for an extension of time to file an unclaimed property report for the prior calendar year must be postmarked or filed with the Department by April 30th of the subsequent calendar year. A written request that is not timely postmarked or filed shall be denied. The Department shall review the facts and circumstances of each timely postmarked or filed written request on a case-by-case basis and, if the Department finds that the requestor has shown that good cause exists to grant an extension, the Department shall postpone the reporting date or extend the property delivery date for a period of up to sixty (60) days. For purposes of this subsection, “”good cause”” means:
(a) Natural disasters;
(b) Acts of war or terrorism;
(c) Report to be filed by the holder or its subsidiaries using an electronic medium for the first time;
(d) Significant changes in personnel;
(e) Corporate actions such as mergers, acquisitions, bankruptcy, etc.;
(f) System conversions, updates/changes in reporting software; or
(g) Change in third party administrator.
(4) A written request for a waiver of applicable penalties must be filed with the Department. The Department shall review the facts and circumstances of each filed written request on a case-by-case basis. A finding by the Department that good cause exists shall constitute appropriate justification to waive applicable penalties. For purposes of this subsection, “”good cause”” means:
(a) Natural disasters;
(b) Acts of war or terrorism;
(c) Initial report filed by the holder or its subsidiaries which was not induced by an examination from the Department or agents; or
(d) Penalty amount in excess of the reported amount;
(e) Penalty assessed in error; or
(f) System conversions, updates/changes in reporting software.
(5) Extensions for the reason set forth in paragraph (3)(d), above, shall be granted for one reporting period only within a three year time frame from the date of the first extension.
(6) The Department shall grant postponements, extensions and waivers in writing.
Rulemaking Authority 717.119(5), 717.138 FS. Law Implemented 717.117, 717.119, 717.134 FS. History-New 6-23-91, Amended 8-29-94, 1-28-97, Formerly 3D-20.038, Amended 4-20-16, Formerly 69I-20.038.