Report Unclaimed Property

Report Property

To ensure unclaimed property can be returned to its rightful owner, state law requires businesses and government agencies to file unclaimed property reports annually with the Arkansas State Auditor’s Unclaimed Property (UCP) Division. 

Businesses and government agencies are required to report and remit unclaimed property by November 1st. Reports and remittances must be received in our office by the last business day in October. Life insurance companies are required to report and remit unclaimed property by May 1st. These properties must be received in our office by the last business day in April.

It is important to our office to make the reporting process easy and efficient for holders. Our website provides holders with the ability to create and submit report(s) online. Our office follows the standard format set out by the National Association of Unclaimed Property Administrators (NAUPA). If you’d like to submit a manual report instead, the below video explains step-by-step instructions on how to do so:

Once you’re ready to submit your report, please click on one of the links below:

Arkansas Voluntary Filing

As an ongoing effort to promote compliance with the Unclaimed Property Law, the Office of the Auditor of State offers three voluntary filing programs to any holder not currently under audit or in receipt of an audit commencement letter from this office. Submit your request in writing with any necessary agreements to be admitted.

Frequently Asked Questions

Unclaimed property is any financial asset, usually intangible, held for a person or entity that cannot be found. Examples of unclaimed property types include account balances, unpaid wages or commissions, stocks, bonds, refunds, utility deposits, insurance proceeds, cashier’s checks, money orders, safe deposit box contents, and others.
Any business entity in possession of unclaimed property is a potential holder. Examples of holders include banks, insurance companies, investment firms, utilities, corporations, partnerships, LLCs, sole-proprietorships, government agencies, not-for-profit organizations, estates, trusts, universities, hospitals, doctors’ offices, grocery stores, gas stations, or any other entity holding money for a client, customer, or otherwise. Generally, if you are acting as a fiduciary, you could be considered a holder of unclaimed property.
Identify if your business is holding unclaimed property. Determine if the property has been inactive or dormant for the appropriate abandonment period (can be between 1-15 years, depending on property type). Perform due diligence. Collect information. Prepare the report. File the report and submit property to us by deadline.
Due diligence is written notice to the owners at their last known address informing them of property that will be reported unless they respond in a timely manner to reclaim the money from the holder. Owners must be provided at least 90 days to respond to due diligence letters before a report is filed. Due diligence must be performed if the value is greater than $50 and the address for the owner appears to be accurate. For your convenience, sample due diligence letters are provided on pages 17 and 18.
The holder must send a written notice to the owner stating the holder is in possession of property which has been deemed abandoned and will be turned over to the state as unclaimed if the owner does not reply. Due diligence notices only need to be sent for properties of $50 or more and do not need to be sent to those owners whom the address on the holder’s records has been proven to be incorrect.
In Arkansas, most property types are presumed abandoned or unclaimed if there has been no account activity for three years. However, wages, commissions, and utility deposits and refunds are presumed abandoned or unclaimed after one year. Unclaimed property dormancy periods may be found on pages 15-16 of the Unclaimed Property Reporting Booklet
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. Service fees are only allowed until the property is abandoned in accordance with A.C.A. 18-28-202.
For the owners that you are unable to locate, collect any additional information such as last known mailing addresses, social security numbers, birth dates, relationship codes, transaction dates, property types, and legal description (for oil & gas). For your convenience, reporting codes are provided on pages 11-15.
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.
Businesses and government agencies are required to report and remit unclaimed property by November 1st. Reports and remittances must be received in our office by the last business day in October. Life insurance companies are required to report and remit unclaimed property by May 1st. These properties must be received in our office by the last business day in April.
In accordance with A.C.A. § 18-28-207(f), before the date for filing the report, the holder of property presumed abandoned may request our office to extend the time for filing the report. Our office may grant the extension for good cause. A written request must be received in our office one day prior to the reporting deadline. The request may be emailed to holders@auditor.ar.gov.
In most cases, we are able to make arrangements for past due property through the Voluntary Compliance Program. The program is designed for businesses to file without the threat of penalties and interest. Arkansas Voluntary Filing Options – pdf
The National Association of Unclaimed Property Administrators (NAUPA) has approved a standard set of codes in a uniform format with the purpose of making electronic reporting more uniform for all holders. The most current version of the NAUPA Standard Electronic File Format may be found at www.unclaimed.org.
In accordance with A.C.A. § 18-28-201(9), Arkansas requires that mineral proceeds be reported on a pay-to-current basis. Mineral proceeds are amounts payable for the extraction, production, or sale of minerals, or upon the abandonment of those payments, all payments that become payable thereafter. The holder must provide the well name, county, section, township, and range of the well with the report of unclaimed property.
Go to www.auditor.ar.gov to learn more about the reporting process.