Reporting Unclaimed Property
It is rare for any organization NOT to have Unclaimed Property because Unclaimed Property results from normal business operations.
Reporting companies are now able to submit their Holder Reports
online. To access the system, click here.
Additional Reporting Options
Frequently Asked Questions
Below is a list of FAQs to assist your organization in determining whether and how it should report and remit Unclaimed Property.
- Where do I find Unclaimed Property?
- The following are some general areas where Unclaimed Property may be found:
- Stale outstanding checks - checks written represent an attempt to pay a valid obligation. If a check does not clear the bank, the underlying liability is Unclaimed Property if it cannot be restored to the payee.
- Liabilities written off to an income or other account - if valid obligations have been written off to an income or expense account in the past, they must be reinstated and reported as Unclaimed Property.
- Other stale liabilities in the general ledger - these are recorded obligations for which no check was issued. Examples are customer deposits or overpayments, accounts receivable overpayments, unidentified receipts or dividends payable.
- Securities and related property held by agents - many shareholders fail to cash dividend checks. Also, there are unexchanged/undelivered shares that occur from splits and mergers.
- What must happen before I report the Unclaimed Property to the State Treasurer's office?
- If the owner is due $50 or more, an attempt to locate the owner, known as due diligence, must be performed before remitting the property. A letter detailing the amount due the owner and requesting a positive confirmation from the owner should be sent to the owner's last known address or new address if one is available. Other reasonable means of contact can be used in place of the letter.
- Are there minimum amounts that do not need to be reported?
- No. The Treasurer's Unclaimed Property Division does not have the authority to establish any minimum amounts. There is nothing too small that does not require reporting. However, amounts due an owner that total less than $50 for the owner may be reported in aggregate. That is, the amounts due owners that are less than $50 may be summed and reported as one aggregate for that property type. Since our goal is to return the property to the rightful owner, if detail is available, we encourage you to report it. The holder should retain owner detail for at least five years after the dormancy period.
- Who must report abandoned property?
- Any entity doing business in the state of Missouri or doing business with individuals in the state of Missouri must report abandoned property. This includes, but is not limited to, banks, credit unions, utility companies, wholesalers, retailers, manufactures, governmental entities, insurance companies, public corporations, public authorities and estates and trusts.
- What are the dormancy periods for Unclaimed Property?
- The dormancy period is 5 years for all types of property except the following:
- Court bonds – 1 year
- Demutualization, rehabilitation and reorganizations of insurance companies – 2 years
- Dissolution or liquidation of business – 2 years
- Payroll – 3 years
- State agencies, political subdivisions and government entities – 3 years
- Money orders – 7 years
- Travelers checks – 15 years
- How long should records relating to Unclaimed Property be kept?
- Per RSMo 447.539.9, records containing owner-level detail should be kept for a period of not less than five years subsequent to reporting the property to the state. For property with a seven-year dormancy period, detail records should be kept at least 12 years.
- What if I don't have detailed records documenting to whom the property belongs?
- When owner-level detail is not available for the Unclaimed Property, report the amounts as "owner unknown."
- What if I don't have records documenting abandoned property?
- If records have not been kept relating to Unclaimed Property, then the abandoned property amount to report must be estimated using Generally Accepted Accounting Principles. Please contact the Treasurer's Unclaimed Property Division for assistance on calculating the abandoned property amount when records do not exist.
- When do I report abandoned property?
- Reporting dates are:
- November 1, using a June 30 cutoff – all holders except life insurance companies
- May 1, using a December 31 cutoff – life insurance companies only
- How do I submit security transfers?
- *REPORTING INSTRUCTIONS HAVE CHANGED
- Shares and reports must be remitted at the same time. Pre-approval of share transfers is required. (see Avenu Reporting Instructions.pdf below) Accounts must be established for mutual fund shares so allow extra time.
- Shares of stock should be delivered to the state by electronic transfer whenever possible. Physical certificates should be submitted only when there is no other option. Do not transfer shares into book entry or dividend reinvestment program accounts. Most mutual funds can also be held by our custodian Avenu Insights. Please see reporting instructions for details.
- Only whole shares should be transferred; fractional shares should be liquidated prior to reporting and reported as cash-in-lieu. When reporting securities, you MUST report the CURRENT security name and CUSIP. Former names/CUSIPs can be included in the description.
- Worthless or restricted securities should not be submitted or reported. You may continue to hold worthless securities and transfer them at such time that they have value. If you report worthless shares you must have a way of transferring those shares to the State of Missouri, either by electronic transfer, or in certificate form (either in the name of State of Missouri or in the original owner’s name). If you choose to transfer the shares into the State’s name you MUST report owner information for those shares.
- Here are the detailed instructions: Avenu Reporting Instructions.pdf
- If you have additional questions please contact: firstname.lastname@example.org
- How do I send physical items in safe deposit boxes to the State Treasurer's office?
- EVERYTHING FOUND IN THE SAFE DEPOSIT BOX SHOULD BE SENT TO THE UNCLAIMED PROPERTY DIVISION.
- Money can only be removed to offset expenses for the box owner if the coins or currency have no numismatic or value above face value.
- Firearms may be turned over to local law enforcement for testing and storage. (Please note that it is illegal to ship firearms through the United States Postal Service, FedEx and UPS without a proper license. They may be hand-delivered to our office.) If you are reporting a firearm, please include a note with your report indicating in which box we can find the weapon and the owner's name.
- The contents of each safe deposit box should be packaged separately so it is clear which contents go with which box. An inventory sheet with the box owner’s name(s), personal information, and detailed list of the contents inventoried by the bank/holder should accompany each box’s contents. Here is a sample sheet that can be attached to or included with the contents.
- PLEASE PACKAGE ITEMS APPROPRIATELY. When packing safe deposit box items to send to the Unclaimed Property Division, please be mindful of the following:
- Anything fragile or breakable should be wrapped individually so that it arrives in one piece and in its original condition. This includes, but is not limited to: glass, crystal, china, pocket watches, wristwatches, other jewelry, figurines, and plastic containers.
- Watches, jewelry, and other fragile items should not be thrown in a bag of heavy coins; they likely will be broken, bent or scratched in transit.
- Remove coins from glass or plastic containers before shipping. Wrap containers individually.
- Items that arrive broken or with other noticeable damage are marked as such in our database during inventory.
- How can I get an Unclaimed Property Report Form?
- The Missouri Unclaimed Property Report form is available for download here. You may also request a form by contacting the Treasurer’s Unclaimed Property Division.
- If you've previously reported Unclaimed Property to Missouri, you may already be on the annual mailing list. Those on the mailing list will automatically receive a reminder postcard in the early fall. Life insurance companies on the list will receive a reminder postcard in the early spring.
- Alternatively, holders may choose to design their own report containing all of the required information (subject to approval by the Treasurer’s Unclaimed Property Division). Holders may also choose to report via diskette. Holders may download Missouri’s Holder Reporting System (HRS) program or obtain the nationally accepted NAUPA format from the Wagers and Associates, Inc. website.
- Where do I submit a completed Unclaimed Property Report?
- To submit via mail:
Office of the Missouri State Treasurer
P.O. Box 1272
Jefferson City, MO 65102-1272
- Physical mailing address (for sending items overnight):
Office of the Missouri State Treasurer
301 W. High St., Rm. 157
Jefferson City, MO 65101
- Are negative (no-dollar) reports required by the Missouri Unclaimed Property Division?