Information for Holders of Unclaimed Property

The Treasurer’s Office could not return funds to the rightful owner if it did not receive lost or unclaimed property from the holders of the property. Typical holders of unclaimed property include financial institutions, employers, utility companies, insurance companies, retailers, corporations and governmental agencies throughout the United States. Vermont’s firms have largely complied, on a voluntary basis, with State statutes relative to unclaimed property.

Important Dates

The unclaimed property report must be filed with the State Treasurer’s Office before May 1 of each year as of the preceding December 31. For more details, read the Vermont Unclaimed Property Law Act 161.

Holder Reporting Manual

The Holder Reporting Manual defines what unclaimed property is, as well as who, when, where and how to report it.

You can view the manual on-line.

Unclaimed Property Reporting Package

Double-check this list to make certain you don't miss anything when sending us your unclaimed property reporting package. Your package should include:

  • Report Cover Sheet (Affidavit of Due Diligence is listed on the Report Cover Sheet)
  • Report detail must be in NAUPA format on a formatted CD-R or on a memory stick/thumb drive (10 items or less may be manually reported)
  • Hard copy of the report detail
  • One check, made payable to Vermont State Treasurer's Office, for the total amount of the submitted report
ANNUAL Report Cover Sheet

All annual reports require the following cover sheet. Both pages of the cover sheet are required to be completely filled in and sent together. Section 3a now lists a requirement to enter the total number of accounts reported within the listed aggregate total.

 

Adobe (PDF) Format
Report Cover Sheet

Word (doc) Format
Report Cover Sheet


Due Diligence Letter

The holder must make a documented written effort to locate the apparent owner of the presumed abandoned property not more than 120 days or less than 60 days prior to the filing of the annual Unclaimed Property Report. The holder is obligated under §1247 (e) Chapter 14, V.S.A. Title 27 to attempt to communicate with the owner before property is presumed abandonded. 
 

Adobe (PDF) Format
Due Diligence Letter

Word (doc) Format
Due Diligence Letter

 
Reporting More than Ten Items

All holders reporting MORE than 10 items are required to file their reports electronically and in NAUPA format. The report must be on a formatted CD-R or 3.5 inch standard high density diskette and mailed to: Unclaimed Property Division, 109 State Street, Montpelier, Vermont 05609-6200, along with a hard copy of the report for our backup. To create the electronic file, there are three on-line options available to choose from, two are available from Wagers & Associates and one is available from Eagle Technology Management, Inc. These options are the (a) Wagers Holder Reporting System (b) NAUPA Standard Electronic format, or the (c) NAUPA II Electronic Reporting Standard – ETM – UPExchange.

Wagers and Associates - HRS Pro Standard Edition may be downloaded at no cost. Prior to downloading the software, you will find the HRS Pro User's Guide and HRS Pro How To sections on the download page helpful to print and read before you download the software. The guide provides advice in the preparation and filing of your electronic report. Bookmarking this page on your browser will enable you to easily download periodic updates in the software

UPExchange is a web-based application (no software to install or maintain) that automates the management and reporting of unclaimed property to meet regulatory filing requirements.  Basic reporting functionality is free to use and endorsed by NAUPA. The help tools include a User Guide, interactive tutorials, pre-recorded videos on the system’s capabilities, a four-minute overview of its optional models, frequently asked questions (and answers), and training webinars.  Click here and register to obtain access to all these tools at ETM.  ETM (Eagle Technology Management, Inc.) also offers complete, ongoing product support, available at uphelp@eagletm.com, or (319) 739-3557.

Reporting Ten Items or Less

Reporting 10 or fewer items may be reported manually, using the required provided forms:
 

Adobe (PDF) Format
Schedule A
Schedule B (Securities)

 

Word (doc) Format
Schedule A
Schedule B (Securities)

 


ATTENTION: New safe deposit box instructions and forms, see pages 15 and 16 of Holder Reporting Manual.

Safe Deposit Box Reporting

All safe deposit box contents must be reported on the Safe Deposit Box Inventory Sheet(s). The Safe Deposit Box Cover Sheet must be signed and notarized. To ensure accurate reporting and security, do NOT mail any Safe Deposit Box Forms with the ANNUAL Report Cover Sheet or Detail Reports due on May 1. Safe Deposit Box forms and Boxes are due 120 days after our May 1 filing due date.

 

 

Adobe (PDF) Format
Safe Deposit Box-Cover Sheet
Safe Deposit Box-Inventory Report

Word (doc) Format
Safe Deposit Box-Cover Sheet
Safe Deposit Box-Inventory Report

 

Holder Reimbursement Request

After a report is submitted, a holder may choose to repay the owner directly or may determine that items within the report were filed in error. In these cases, the holder may seek reimbursement by submitting the "Holder Request for Reimbursement" form along with the required documentation substantiating the repayment or error. Reference page 31 of the Holder Reporting Manual for more reimbursement details.
 

Adobe (PDF) Format
Holder Reimbursement - NAUPA

 

Holder Report Extension Request

If you are unable to comply with any statutory or regulatory requirement in a timely manner you may request an extension of time to file your unclaimed property report. A request for an extension must describe the circumstance(s) that prevent timely compliance and must indicate the amount of additional time needed to properly comply. Request for extension can be made by mail or e-mail on your company letterhead and should be submitted at least 30 days before the report due date. Reference page 32 of the Holder Reporting Manual for additional extension request details. 

Voluntary Compliance Program

The Vermont Voluntary Compliance Program has been established to assist companies that are not in compliance with the Unclaimed Property Act to come into compliance while avoiding penalties. We encourage holders of any unclaimed funds to come forward and take advantage of this one-time unique opportunity to report unclaimed property free of penalties and interest.

Voluntary Compliance Agreement

A holder considering participating in the Voluntary Compliance Program must submit a request to participate by mail, fax, or email to the Vermont Unclaimed Property Division. The Voluntary Compliance Agreement SAMPLE gives details regarding the holder's reporting requirements.

VCA - Compliance Report Cover Sheet

Unclaimed Property VCA-Compliance Report Cover Sheet is issued by the Unclaimed Property Division to companies approved for enrollment into the Vermont Voluntary Compliance Program. VCA acronym and Green background at the top of this form distinguishes it from the "ANNUAL" Report Cover Sheet.

Workshops

The Unclaimed Property Division offers unclaimed property workshops to educate Vermont holders on the Unclaimed Property Law, rules, and reporting requirements. Whether you are new or experienced in unclaimed property, workshops will provide valuable information to assist your organization with reporting and compliance responsibilities. To access scheduled Workshop Dates and Agenda, Request a Speaker, Register for a Workshop, Review Unclaimed Property History-Reporting slides, or HRS Pro Informational slides, select the appropriate box below. To receive a notification when a workshop is scheduled or need further assistance please e-mail tre.upcompliance@vermont.gov

 

Unclaimed Property

Workshop

DATES

Unclaimed Property

REQUEST a SPEAKER

Unclaimed Property

HISTORY-REPORTING

Slides

Unclaimed Property

Workshop

AGENDA

Unclaimed Property

Workshop

REGISTRATION FORM

Unclaimed Property

ELECTRONIC REPORTING

Slides