| FILING YOUR REPORT | |||
| Complete the Unclaimed Property Report , identifying all owners with
accounts of $50 or more on the Unclaimed Property Itemization. Computer generated reports will be accepted. If you have nothing to report, we recommend filing a negative report, either via the website or on diskette or CD Rom in NAUPA format. Negative reports help establish a solid reporting history for your business in years when you don't have any property to remit. NOTE: Whether using our Unclaimed Property Itemization form, or your own computer-generated report, it is important that you use the "property code" number from the Property Description Code list in your itemization detail. |
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| SAFE DEPOSIT BOXES | |||
| Complete the Safe Deposit Box Inventory Statement. Be sure to provide a complete inventory of all items found in the box. When submitting safe deposit box contents, we recommend that the package be insured or delivered by registered mail. |
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| DUE DILIGENCE | |||
| As required by Section 47-30.1-17 (05), N.D.C.C., if the account is $50 or more, you have an obligation to send a letter to the owner's last known address not more than 120 days prior to filing this report. If the owner does not respond, the account must be included on the report. Here are examples of Due Diligence letters for Financial Institutions and Uncashed Checks. (Accounts under $50 are subject to reporting but are exempt from due diligence requirements.) | |||
| DELIVERY OF PROPERTY | |||
| Each year, the report and property is due by May 1 for Life Insurance Companies and November 1 for all other businesses. Make checks payable to the State Land Department and include it with your report. Stock shares should be registered in the name of the Unclaimed Property Division. Our Federal ID Number is 45-6002470. | |||
| WHAT TO REPORT | |||
| Report any and all types of property that you are holding for an owner who has not claimed or shown an interest in the property for the periods set out below. | |||
| APPLICABLE TO BANKS, CREDIT UNIONS, AND FEDERAL SAVINGS BANKS | ||||||
| Five Year | Three Years | |||||
| Savings accounts | Official bank checks | Suspense accounts | ||||
| Checking accounts | Bank Money Orders | unidentified deposits | ||||
| Certificates of deposit | Trust accounts | Credit balances | ||||
| Escrow | All other misc. property | |||||
| Safe deposit boxes | ||||||
| APPLICABLE TO LIFE INSURANCE COMPANIES | |||||||
| One Year | Two Years | Three Years | |||||
| Business dissolution | Dividend checks | Life Policies | Endowment policies | ||||
| Wages | Annuity Contracts | All other life insurance property | |||||
| Commissions | Stock shares | Underlying Shares | |||||
| All uncashed checks | Mutual fund share | Misc. property | |||||
| APPLICABLE TO ALL HOLDERS | |||||||
| One Year | Two Years | Three Years | |||||
| Utility deposits/refunds | Dividend checks | Stock shares | Courts & public agencies | ||||
| Business dissolution | Wages | Underlying shares | Fiduciaries | ||||
| Commissions | Mutual fund shares | Escrow accounts | |||||
| All uncashed checks | Credit Memos | Mineral proceeds | |||||
| Trust accounts | Miscellaneous property | ||||||
| Seven Years | Fifteen Years | ||||||
| Corporate money orders | Traveler's checks | ||||||
If you are holding property that is not identified above, and you question whether if should be reported, or how long you should hold it, please contact us at:
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Linda Fisher Unclaimed Property Division North Dakota State Land Dept. PO Box 5523 Bismarck, ND 58506-5523 Telephone 701.328.2800 Fax 701.328.3650 E-mail: llfisher@nd.gov |