The State of Arkansas requires businesses and government agencies to file unclaimed property reports annually with the Arkansas State Auditor’s Unclaimed Property (UCP) Division.
All holders must complete a Holder Transmittal for the Annual Report of Unclaimed Property. This form provides information to the UCP Division about the holder. It establishes a reporting history and provides information about the filed report (e.g. amount of report, securities sent and safe deposit contents sent).
The Holder Reporting Booklet includes instructions for the use of diskette, CD or paper reporting. The UCP Division requires all holders who are reporting 25 or more unclaimed property accounts to report electronically, by diskette, by CD or online. Reports must be in Arkansas's format (which is the NAUPA standard format). Reports that are received that cannot be processed will be returned to the holder. Reports received in the wrong format will be considered not filed timely. Information from these reports will be used to compile a list of persons who own unclaimed property and to pay claims on those properties. The UCP Division will publish the list of missing owners throughout the state each year. The report will be the basis for the UCP Division's advertising and public information campaign to locate missing owners.
Types of Holder Reporting Accepted
Online Reporting
Account holders may submit their information to the UCP division electronically with the online Holder Report Online Filing System. Reporting holders can either report their NAUPA formatted file by uploading it into our system or by entering their information into our online filing system.
Note: This method of NAUPA electronic reporting is required for holders with more than 25 records, but can be used for reports of any size. For NAUPA electronic text file guidelines, click here.
Diskette or CD-ROM
Account holders can submit their information to the UCP division in a NAUPA formatted file on either diskette or CD-ROM. Reporting holders just need to fill out the required form (AOS/UP1 Transmittal form) and mail it to the following address:
UCP Division
PO Box 251906
Little Rock, AR 72225-1906
This method of NAUPA electronic reporting is required for holders with more than 25 records, but can be used for reports of any size. For NAUPA electronic text file guidelines, click here.
Manually
Account holders can use this method only if there are fewer than 25 accounts to report. You can download a PDF copy of our Unclaimed Property Booklet and mail it to the following address:
UCP Division
PO Box 251906
Little Rock, AR 72225-1906
Report and Remit
All holders are required to remit the property upon filing a report. The amount on the Holder Transmittal form must equal the amount of the report. Include a check payable to the State of Arkansas for the total amount remitted with the report.
Negative Reports
Companies doing business in Arkansas should file a negative report if there are no properties to remit for that year. Filing a negative report is not required by law but it helps establish a record for audit purposes of the holder’s continued compliance with the UCP law.
Notice to Owners - Due Diligence
Arkansas law requires holders to send written notice to owners at their last known address informing the owner of property subject to be turned over to the state. This requirement only applies if all of the following conditions exist:
- The address for the owner appears to be accurate.
- The property has a value of $50.00 or more.
- The statute of limitation does not bar the claim of the owner.
Notice must be sent no less than 60 days nor more than 120 days before filing the report.
Aggregate Reporting
Report accounts valued at less than $25.00 using one of the available aggregate codes. List the number of properties for each type of property:
| AC99 |
|
(Aggregate Savings Account) |
Aggregate Total |
| CK99 |
|
(Aggregate Uncashed Checks) |
Aggregate Total |
Special rules apply when reporting dividends. Dividends should not be reported in aggregate.
You are encouraged to provide the Unclaimed Property Division with a separate detailed list of owner names and amount due each owner reported in the aggregate. This will reduce the need for the Unclaimed Property Division to refer the owner back to you for verification.
Unknown Owners
For property where the owner is unknown, enter "unknown" in the last name field. List any descriptive or identifying information in the property description field.
Record Keeping
Copies of reports and supporting records must be kept for 10 years. Information on the unclaimed property report must be supported by an adequate audit trail.
Service Charges
A holder may not deduct service charges or stop payment of interest unless all of the following requirements are met:
- An enforceable written contract exists between the holder and the owner, providing that the holder may impose a charge or stop payment of interest;
- and the holder regularly imposes such charges or stops payment of interest and does not regularly reverse or otherwise cancel the charges;
- and a copy of the contract authorizing service charges is included or attached as part of the report.
Early Reporting
Holder reports may be filed when property reaches the dormancy period and all due diligence requirements have been met.
Incomplete Reports
Holder reports should be check thoroughly prior to submission ensure that all requested information in included. An incomplete report is not considered filed timely.
Fines and Penalties
Every holder is required to file and remit property within the time prescribed. Any holder who fails to file a report of unclaimed property will be subject to fines and penalties as provided in the Unclaimed Property Act, Arkansas Code Annotated §18-28-224.
A person who fails to pay or deliver property within the time prescribed by the act shall pay interest at the annual rate of two (2) percentage points above the annual rate of discount in effect on the date the property should have been paid or delivered for the most recent issue of 52 week United States Treasury bills on the property or value thereof from the date the property should have been reported, paid or delivered.
In addition to the above interest, a person must pay a civil penalty of $200 per day for each day the report, payment, or delivery is not made up to a maximum of $5,000.
A person who willfully fails to render any report or perform other duties required under the act or who makes a fraudulent report must pay, in addition to the interest above, a civil penalty of $1,000 per day up to a maximum of $25,000 plus 25% of the value of any property that should have been but was not reported.
The State Auditor may waive interest and civil fines imposed under the act.
Additional Reporting Forms
Holders may photocopy the blank forms provided in the reporting booklet. Click here to access the PDF forms on this site.