Unclaimed Property Letterhead

ANNUAL REPORTING OF UNCLAIMED PROPERTY FOR LIFE INSURANCE HOLDERS

February 20, 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 life insurance holders is May 1, 2017, for all property that has reached its dormancy holding period as of December 31, 2016, 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 Chart, 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, NCGS ? 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 May 1 due date. This means for the May 1 due date, letters must be sent no earlier than January 1 and no later than March 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 in the Forms and Guides section of our website.

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

3. REPORTING 50 OR MORE OWNERS ? Holders reporting 50 or more property owners shall file their report in the North Carolina Electronic File Format prescribed by the State Treasurer

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

(modified NAUPA format). 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. A copy of the NC standard electronic file format can be found in the Forms and Guides section of our website. To assist holders in reporting in the specified electronic format, free reporting software is available through Conduent's HRS Pro? hrs/index.php.

NOTE:

Holders may submit their report electronically using UPExpress at index.php/upexpress:

Only submit to our office a copy of the UPExpress confirmation page with the Unclaimed Property Verification page and a check or copy of ACH/Wire transmittal.

Holders required to prepare their report in the State Treasurer's electronic file format but electing not to submit their report electronically: 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.

4. 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.

5. 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, 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.

6. 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. An ASD-NEG may be obtained in the Forms and Guides section of our website or by contacting our office.

7. REPORTING SECURITIES ?North Carolina Unclaimed Property Division has a new custodian, Wells Fargo Advisors, and the registration instructions have changed for stocks and mutual funds. Please follow the registration instructions for remitting and reporting securities detailed in the Instructions for Reporting Securities guide located in the Forms and Guides section of our website.

8. PAYMENT METHOD ? Funds may be sent via ACH or Wire using the instructions available on our website at upp/Forms/UPWireInstructions.pdf. Checks should be made payable to the NC Department of State Treasurer.

9. 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.

10. 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 CURRENT mailing address and phone number:

NC Department of State Treasurer Unclaimed Property Division 3200 Atlantic Avenue Raleigh, NC 27604-1668 919-814-4200

North Carolina Unclaimed Property Report Conversion Table Life Insurance Companies 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 when filing unclaimed property reports.

1 YEAR PROPERTY

ISSUE YEAR

HOLD NOTICE TO REPORT DUE PERIOD OWNERS PRIOR TO

1/1/13 TO 12/31/13 12/31/14 2/15/15

5/1/15

1/1/14 TO 12/31/14 12/31/15 2/15/16

5/1/16

1/1/15 TO 12/31/15 12/31/16 2/15/17

5/1/17

1/1/16 TO 12/31/16 12/31/17 2/15/18

5/1/18

1/1/17 TO 12/31/17 12/31/18 2/15/19

5/1/19

1/1/18 TO 12/31/18 12/31/19 2/15/20

5/1/20

3 YEAR PROPERTY

ISSUE YEAR

HOLD NOTICE TO REPORT DUE PERIOD OWNERS PRIOR TO

1/1/11 TO 12/31/11 12/31/14 2/15/15

5/1/15

1/1/12 TO 12/31/12 12/31/15 2/15/16

5/1/16

1/1/13 TO 12/31/13 12/31/16 2/15/17

5/1/17

1/1/14 TO 12/31/14 12/31/17 2/15/18

5/1/18

1/1/15 TO 12/31/15 12/31/18 2/15/19

5/1/19

1/1/16 TO 12/31/16 12/31/19 2/15/20

5/1/20

5 YEAR PROPERTY

ISSUE YEAR

HOLD NOTICE TO REPORT DUE PERIOD OWNERS PRIOR TO

1/1/09 TO 12/31/09 12/31/14 2/15/15

5/1/15

1/1/10 TO 12/31/10 12/31/15 2/15/16

5/1/16

1/1/11 TO 12/31/11 12/31/16 2/15/17

5/1/17

1/1/12 TO 12/31/12 12/31/17 2/15/18

5/1/18

1/1/13 TO 12/31/13 12/31/18 2/15/19

5/1/19

1/1/14 TO 12/31/14 12/31/19 2/15/20

5/1/20

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

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