Vermont Unclaimed Property Law

New revision (Act 161) became effective July 1, 2006

Some changes include:

1. Dormancy period for wages or other compensation for personal services, including commissions decreased to one (1) year
2. Dormancy period for property reported by the state agencies, courts and governmental entities decreased to one (1) year
3. Due Diligence mailing is required now only for items of $50 and over
4. Holders are now required to file an Affidavit of Due Diligence.

Holder Reporting Manual

This manual defines what unclaimed property is, as well as who, when, where and how to report it.

Unclaimed Property Holder Reporting Manual

Unclaimed Property Fact Sheet for Bussinesses

Facts for Businesses

Unclaimed Property reporting package includes:

1. Report Cover Sheet (attention: Affidavit of Due Diligence is included on the Report Cover Sheet);
2. Detail of the report on floppy disk or CD;
3. Hard copy of the report detail;
4. One check for the total amount of the report.

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 opportunity to report unclaimed property free of penalties and interest.

Workshops

The Unclaimed Property Division of the State Treasurer's Office is offering the Unclaimed Property Workshop to educate Vermont holders on the Unclaimed Property Law, rules, and reporting requirements. Whether you are new or experienced in unclaimed property, this workshop will provide valuable information to assist your organization with the reporting and compliance responsibilities. Please review the detailed Agenda.

No workshops are scheduled at this time. To receive a notification when a workshop is scheduled or to request a speaker, please email unclaimed.property@state.vt.us.

Report Cover Sheet

All reports require the following Cover Sheet. Both pages of the cover sheet are required to be completely filled-in and sent together.

Due Diligence Letter

How to Report More Than 10 Items

All holders reporting more than 10 items must file their reports electronically. Mail your report on CD or 3.5" diskette to us at 109 State Street, Montpelier, Vermont 05609-6200, along with a hard copy of the report for our backup. To create the electronic file, you have two options, both available from Wagers & Associates:

1. Wagers Holder Reporting System
2. NAUPA Standard Electronic Format

Please also download the HRS Guide to prepare and file your report electronically. In fact, you may just want to bookmark the Wagers & Associates Web page for future reference and periodic updates.

Forms for Reporting 10 Items or Less

The forms for reporting 10 items or less of unclaimed property are:

Forms for Reporting Safe Deposit Boxes

The forms for reporting unclaimed safe deposit boxes are: