ANNUAL REPORTING OF UNCLAIMED PROPERTY

ANNUAL REPORTING OF UNCLAIMED PROPERTY

June 14, 2017

All companies doing business in North Carolina are obligated to review their financial accounts annually and to determine if they are holding qualified unclaimed property. If they are, companies are required to file a Holder Report with the Unclaimed Property Division, and to remit the unclaimed property to the North Carolina Department of State Treasurer. Unclaimed property holders are corporations, partnerships, sole proprietorships, retailers, manufacturers, financial institutions, governmental agencies, universities, hospitals, utilities, insurance companies, or others.

The next due date for reporting unclaimed property for all holders (except life insurance holders) is November 1, 2017, for all property that has reached its dormancy holding period as of June 30, 2017, and for which the owners could not be located.

1. IDENTIFYING PROPERTY ? Property is presumed abandoned if the owner has not communicated with the holder or indicated an interest in the property within its dormancy holding period. The holding periods are defined in NCGS ? 116B-53(c) and are listed on the NAUPA Class Codes and Dormancy Period Charts, which can be found in the Forms and Guides section of our website: reporting.

2. DUE DILIGENCE ? Once property is identified as potential unclaimed property, N.C.G.S. ? 116B-59 requires that a good faith effort be made to locate the owner. For amounts $50 and greater, a first class letter shall be sent to the last known address of the apparent owner as reflected in the holder's records. This due diligence letter must be sent no more than 120 days and no less than 60 days prior to the November 1 due date. This means for the November 1 due date, letters must be sent no earlier than July 1 and no later than September 1. If the address on record is known to be invalid, the holder should make a good faith effort to ascertain the correct address of the apparent owner. A sample due diligence letter is available on our website at Guide to Due Diligence.

NOTE: Amounts under $50.00 must be remitted, but a notice to the owner is not required, though encouraged.

3200 ATLANTIC AVENUE, RALEIGH, NORTH CAROLINA 27604 Telephone: (919) 814-4200 Fax: (919) 855-5811

3. MAILING LABELS: Active holders in our holder database receive a postcard with a mailing label. If received, please save the label and attach to first page of form ASD-159 (Unclaimed Property Verification) or its equivalent provided by reporting software. Make necessary changes directly on the label. For holders receiving multiple labels in error, please send an email to upreports@.

4. REPORTING 50 OR MORE OWNERS ? If you are reporting 50 or more properties, you are required to prepare your report in the NC Electronic File Format (modified NAUPA format). Electronic reports are encouraged for holders reporting less than 50 property owner records. Reports containing 50 or more property owners not in the State prescribed format may be rejected and returned to the holder for compliance with these guidelines. NC Electronic File Format Requirements are located in the reporting instructions and information section of our website. To assist holders in reporting in the specified electronic format, HRS Pro provides free reporting software to holders with 200 or less properties to report.

NOTE:

Holders may submit their report electronically using UPExpress: Only mail to our office a copy of the UPExpress confirmation page with the signed ASD-159 or electronic equivalent and check or copy of the ACH/Wire confirmation.

Holders required to prepare their report in the State Treasurer's electronic file format but delivering electronic media via mail: In addition to submitting the CD, diskette, or flashdrive, we request that the ASD-159 (Unclaimed Property Verification), or its equivalent, be submitted in paper format, a PDF file or paper copy of the owner detail to assist with the loading and balancing of holder reports, and a check or copy of ACH/Wire transmittal.

5. REPORTING LESS THAN 50 OWNERS ? For holders with less than 50 property owners, the report may be filed in an electronic format (preferred) or in paper form. Reporting forms are available on our website under Forms and Guides or may be obtained by contacting our office. Both the ASD-159 (Unclaimed Property Verification Report) and ASD-21 (Report of Unclaimed Property) must be completed for reporting cash. Please read the instructions for each of the forms.

6. PROPERTY DUE OTHER STATES ? In most cases, unclaimed property should be reported to the state of the last known address of the owner (entitled state). Certain types of property such as traveler's checks and money orders are reported to the state in which they were purchased. In a situation where the owner's address is unknown or a foreign address, the property is due to the state where the holder is incorporated. While North Carolina has reciprocal and exchange agreements with some states, holders are encouraged to ONLY report to North Carolina those properties for which it is entitled or incidental property. Incidental property is ten or fewer properties totaling $1,000 or less which are entitled to a state other than North Carolina. Please

contact the entitled state to confirm reciprocity practices of the entitled state prior to reporting the property to North Carolina.

NOTE: Due to law changes, any property owed to owners with a last known address in California must be reported directly to California regardless of the value or number of items.

7. NEGATIVE REPORTS ? Negative reports are not required. If you elect to file a negative report, an ASD-NEG (Negative Report of Unclaimed Property) or a "negative" computer-generated holder reporting software form should be submitted.

8. REPORTING SECURITIES ? Please follow the registration instructions for remitting and reporting securities detailed in the Instructions for Reporting Securities guide.

9. REPORTING TANGIBLE PROPERTY ? All holders must report all money (cash) which is abandoned and subsequently unclaimed. Financial institutions are required to report money, as well as other tangible property, physically located in a safe deposit box or other safe keeping depository. Holders must use paper reporting forms ASD-159T and ASD-127 (instructions on page 4). Submit paper report for review prior to shipping contents. Contact Granger Roseberry with reporting questions at 919-814-4234.

10. PAYMENT METHOD ? Funds may be sent via ACH or Wire using the instructions available on our website at Wire Instructions. Checks should be made payable to the NC Department of State Treasurer.

11. RECORD RETENTION ? Names, addresses, social security or tax identification numbers, dates of birth, driver license numbers, and e-mail addresses of the owners must be included on the report form, if known by the holder. For reports filed July 16, 2012 and forward, NCGS ? 116B-73 requires that you maintain records containing the information required in the report for 5 years after you file the report.

NOTE: The record retention for reports filed before July 16, 2012 remains at 10 years.

12. ASSISTANCE ? If you have questions or if we may be of assistance, please email us at: upreports@. Visit our website, reporting to obtain reporting forms and additional information such as guides to unclaimed property or a copy of the unclaimed property statutes.

NOTE: Our mailing address and phone number:

NC Department of State Treasurer Unclaimed Property Division 3200 Atlantic Avenue Raleigh, NC 27604-1668 919-814-4200 (option 3 for holder reporting questions)

North Carolina Unclaimed Property Report Conversion Table Businesses and Organizations Only

Use the tables below to determine specific holding periods, timing of due diligence notices and reporting deadlines for the various unclaimed property types. Refer to the NAUPA Class Code and Dormancy Period Chart to determine the holding period for various property types.

1 YEAR PROPERTY

ISSUE

HOLD NOTICE TO REPORT DUE

YEAR

PERIOD OWNERS PRIOR TO

7/1/13 TO 6/30/14 6/30/15 8/15/15 11/1/15

7/1/14 TO 6/30/15 6/30/16 8/15/16 11/1/16

7/1/15 TO 6/30/16 6/30/17 8/15/17 11/1/17

7/1/16 TO 6/30/17 6/30/18 8/15/18 11/1/18

7/1/17 TO 6/30/18 6/30/19 8/15/19 11/1/19

7/1/18 TO 6/30/19 6/30/20 8/15/20 11/1/20

7 YEAR PROPERTY

ISSUE

HOLD NOTICE TO REPORT DUE

YEAR

PERIOD OWNERS PRIOR TO

7/1/07 TO 6/30/08 6/30/15 8/15/15 11/1/15

7/1/08 TO 6/30/09 6/30/16 8/15/16 11/1/16

7/1/09 TO 6/30/10 6/30/17 8/15/17 11/1/17

7/1/10 TO 6/30/11 6/30/18 8/15/18 11/1/18

7/1/11 TO 6/30/12 6/30/19 8/15/19 11/1/19

7/1/12 TO 6/30/13 6/30/20 8/15/20 11/1/20

2 YEAR PROPERTY

ISSUE

HOLD NOTICE TO REPORT DUE

YEAR

PERIOD OWNERS PRIOR TO

7/1/12 TO 6/30/13 6/30/15 8/15/15 11/1/15

7/1/13 TO 6/30/14 6/30/16 8/15/16 11/1/16

7/1/14 TO 6/30/15 6/30/17 8/15/17 11/1/17

7/1/15 TO 6/30/16 6/30/18 8/15/18 11/1/18

7/1/16 TO 6/30/17 6/30/19 8/15/19 7/1/17 TO 6/30/18 6/30/20 8/15/20

11/1/19 11/1/20

10 YEAR PROPERTY

ISSUE

HOLD NOTICE TO REPORT DUE

YEAR

PERIOD OWNERS PRIOR TO

7/1/04 TO 6/30/05 6/30/15 8/15/15 11/1/15

7/1/05 TO 6/30/06 6/30/16 8/15/16 11/1/16

7/1/06 TO 6/30/07 6/30/17 8/15/17 11/1/17

7/1/07 TO 6/30/08 6/30/18 8/15/18 11/1/18

7/1/08 TO 6/30/09 6/30/19 8/15/19 7/1/09 TO 6/30/10 6/30/20 8/15/20

11/1/19 11/1/20

3 YEAR PROPERTY

ISSUE

HOLD NOTICE TO REPORT DUE

YEAR

PERIOD OWNERS PRIOR TO

7/1/11 TO 6/30/12 6/30/15 8/15/15 11/1/15

7/1/12 TO 6/30/13 6/30/16 8/15/16 11/1/16

7/1/13 TO 6/30/14 6/30/17 8/15/17 11/1/17

7/1/14 TO 6/30/15 6/30/18 8/15/18 11/1/18

7/1/15 TO 6/30/16 6/30/19 8/15/19 11/1/19

7/1/16 TO 6/30/17 6/30/20 8/15/20 11/1/20

15 YEAR PROPERTY

ISSUE

HOLD NOTICE TO REPORT DUE

YEAR

PERIOD OWNERS PRIOR TO

7/1/99 TO 6/30/00 6/30/15 8/15/15 11/1/15

7/1/00 TO 6/30/01 6/30/16 8/15/16 11/1/16

7/1/01 TO 6/30/02 6/30/17 8/15/17 11/1/17

7/1/02 TO 6/30/03 6/30/18 8/15/18 11/1/18

7/1/03 TO 6/30/04 6/30/19 8/15/19 11/1/19

7/1/04 TO 6/30/05 6/30/20 8/15/20 11/1/20

5 YEAR PROPERTY

ISSUE

HOLD NOTICE TO REPORT DUE

YEAR

PERIOD OWNERS PRIOR TO

7/1/09 TO 6/30/10 6/30/15 O8W/1N5/E1R5S P11R/IO1/R1T5O

7/1/10 TO 6/30/11 6/30/16 8/15/16 11/1/16

7/1/11 TO 6/30/12 6/30/17 8/15/17 11/1/17

7/1/12 TO 6/30/13 6/30/18 8/15/18 11/1/18

7/1/13 TO 6/30/14 6/30/19 8/15/19 11/1/19

7/1/14 TO 6/30/15 6/30/20 8/15/20 11/1/20

3200 Atlantic Avenue ? Raleigh, North Carolina 27604 Telephone: (919) 814-4200 ? Fax: (919) 855-5811 ?

North Carolina Unclaimed Property Report Conversion Table Government Agencies Only

Use the table below to determine specific holding periods, timing of due diligence notices and reporting deadlines for all unclaimed property held by government agencies. Refer to the NAUPA Class Code and Dormancy Period Chart for Government Agencies when filing Unclaimed Property reports.

ISSUE YEAR

7/1/13 TO 6/30/14 7/1/14 TO 6/30/15 7/1/15 TO 6/30/16 7/1/16 TO 6/30/17 7/1/17 TO 6/30/18 7/1/18 TO 6/30/19

1 YEAR PROPERTY

HOLD PERIOD

NOTICE TO OWNERS

6/30/15

8/15/15

6/30/16

8/15/16

6/30/17

8/15/17

6/30/18

8/15/18

6/30/19

8/15/19

6/30/20

8/15/20

REPORT DUE PRIOR TO 11/1/15 11/1/16 11/1/17 11/1/18 11/1/19 11/1/20

3200 Atlantic Avenue ? Raleigh, North Carolina 27604 Telephone: (919) 814-4200 ? Fax: (919) 855-5811 ?

REPORTING SECURITIES

January 9, 2017

When reporting securities please follow the instructions below to ensure securities are properly reported, registered, and delivered. Please note, the "Registration of Stock" and "Registration of Mutual Funds" instructions have changed, and the North Carolina Department of State Treasurer Unclaimed Property Division (NC UPD) has a new custodian, Wells Fargo Advisors.

Securities and securities related property should be electronically reported in the NC modified NAUPA file format. If you are unable to report electronically, please contact the NC UPD office. In addition to submitting your electronic report to NC UPD, a list of securities being transferred should be provided to NC UPD's Custodian, as explained further below. Do not send your electronic report and owner detail to Wells Fargo Advisors or First Clearing, LLC.

Each Holder, Broker, Transfer Agent and Third Party Reporter should adhere to the requirements below:

Securities which cannot be transferred or re-registered to NC UPD should not be reported or included with other securities that can be transferred during the annual reporting process. Such securities should be maintained by the holder, in the name of the owner, until such time that they can be transferred or re- registered and reported to NC UPD.

Email an Excel listing of securities that are to be reported and remitted 48 hours prior to delivery to Tim Johnson at Wells Fargo Advisors, Tim . J o h n so n @ w e l lsf arg o adv is o r s . co m.

All Dividends should be reported in the owner's name(s) and should not be aggregated. Fractional shares should be sold and the funds applied to each individual owner prior to reporting and delivery.

Do not total fractions for all owners and sell. Once fractions are sold, whole shares should be delivered as instructed below. Each Holder's Report and corresponding owner's detail, name, address, etc., must be sent simultaneously to NC UPD and NOT mailed to NC UPD separately. The owner detail should be attached to each Holder's Report. When preparing electronic media for multiple funds or Holders, please ensure each file is saved in the name of the specific fund or Holder on the electronic media submitted. Do not use internal holder identifiers as the file name as we are unable to decipher internal holder identifiers. Attach a summary page to each Holder's Report that includes the total for each CUSIP being transferred with the report. Do not email reports to NC UPD. Electronic media should be mailed or the report may be submitted electronically through UPExpress.

Third party interest statements should be mailed to both addresses below:

NC Department of State Treasurer Unclaimed Property Division 3200 Atlantic Avenue Raleigh, NC 27604-1668

Wells Fargo Advisors Tim Johnson 400 Capitol Mall, Suite 1700 Sacramento, CA 95814

If you have any questions or if we may be of any assistance, please contact the Unclaimed Property Office at 919-8144200 option 3.

REV 6/2017

REGISTRATION OF STOCK

Stock must be delivered to our custodian and re-registered in the name of NC Department of

State Treasurer, Unclaimed Property Division.

STOCK DELIVERY

When possible, stock should be delivered via ACATS to:

First Clearing, LLC ACATS Participant # 0141 Reference: NC Dept. of State Treasurer Account # 6975-1557

If stock cannot be delivered via ACATS, alternate electronic methods include DTCC or DWAC. If stock cannot be delivered electronically, stock may be registered in B o ok E n t r y Shar e s/ D ir e c t R e g i s t r at i o n Shar e s (DRS). Please mail third party interest statements to both NC UPD and Wells Fargo Advisors.

STOCK CERTIFICATES

Physical certificates should only be sent for stocks which cannot be sent via ACATS, DTCC, DWAC or DRS and must be registered as below.

NC Department of State Treasurer Unclaimed Property Division 3200 Atlantic Avenue Raleigh, NC 27604-1668 Tax ID # 56-1545517

Physical Certificates should be mailed to:

Wells Fargo Advisors ATTN: Amy Peeples 1504 Eureka Rd 3rd Floor, Suite 300 Roseville, CA 95661-3085

For any questions, contact Tim Johnson at Wells Fargo Advisors Tim.Johnson@.

3200 Atlantic Avenue ? Raleigh, North Carolina 27604 Telephone: (919) 814-4200 ? Fax: (919) 855-5811 ?

REGISTRATION OF MUTUAL FUNDS

Mutual Fund Transfer via Automated Customer Account Transfer Service: When possible, mutual funds should be delivered via ACATS: First Clearing, LLC ACAT Participant # 0141 Reference: NC Dept. of State Treasurer Account # 6975-1557

Use CASH option for all Dividend and Capital Gains Registration

Mutual Fund Direct Transfer: Mutual fund shares unable to be delivered via ACATS:

First Clearing, LLC FBO NC Dept. of State Treasurer Unclaimed Property Division BIN #: 6975-1557 2801 Market Street St. Louis, Mo 63103 TAX ID #: 23-2384840 Branch #: 80 DTC #: 0141 Representative #: 0018007 Use CASH option for all Dividend and Capital Gains Registration

If NC UPD does not have an existing account in a specific fund, contact Tim Johnson at Wells Fargo Advisors -Tim.Johnson@ to obtain the information needed to open a new account.

Mutual Funds that Cannot Be Held by Wells Fargo Advisor's: If NC UPD's Custodian cannot hold a specific mutual fund, please mail third party interest statements to both NC UPD and Wells Fargo Advisors and re-register accounts in the name of NC Department of State Treasurer, Unclaimed Property Division as follows:

NC Department of State Treasurer Unclaimed Property Division 3200 Atlantic Avenue Raleigh, North Carolina 27604 TAX ID #: 56-1545517 Broker of Record: Tim Johnson Rep #0018007 Use CASH option for all Dividend and Capital Gains Registration

CLOSED END MUTUAL FUND Closed end mutual funds must be transferred using the same instructions as "Registration of Stock". For questions, contact Tim Johnson at Wells Fargo Advisors Tim.Johnson@. Use CASH option for all Dividend and Capital Gains Registration

3200 Atlantic Avenue ? Raleigh, North Carolina 27604 Telephone: (919) 814-4200 ? Fax: (919) 855-5811 ?

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download