Unclaimed Property - you may be richer than you think! - Washington State Department of Revenue
Washington State Department of Revenue Unclaimed Property - you may be richer than you think!
 
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FAQs

Holder Information

Q. Can holders report early?

Holders may report property prior to normal abandonment by requesting permission to UCP@dor.wa.gov. In your request, provide the reason you would like to report the property early.

Q. How do I get an extension?

Fax or e-mail a request with the following:
- Company name
- Holder # or if not known provide company FEIN
- Reason for extension
- Length of extension needed

Q. What is the Department of Revenue's Federal ID number (FEIN)?

91-6001118

Q. How should securities be registered?

State of Washington
Department of Revenue
Unclaimed Property Section

Q. What is your mailing address?

For regular delivery:
PO BOX 47489
OLYMPIA, WA 98504-7489

Courier Delivery only:
ATTN:Cash Mgmt
6500 Linderson Way #227
Tumwater, WA 98501

Q. Do holders have to report if there is nothing to report?

  • Only if you received the reporting reminder from our office.
  • Fax or mail the Negative Report indicating you have nothing to report.
  • You can request to have your account inactivated and you will not need to file an annual report unless there is an audit or you have property to report.
  • If you have never reported to our office and did not receive a reminder from our office you do not need to file a negative report.

Q. Do holders need to report items under $50?

  • Yes, there is no minimum amount in the law.
  • Items under $50 may be reported in an aggregate to simplify reporting.
  • If you send a paper report you can simplify your post-reporting record keeping by sending an attachment showing the owner detail that makes up the aggregate. We film the detail and refer to it if an owner comes forward for a small dollar claim.

Q. Do holders need to report small amounts of unclaimed property even when the cost of research and reporting exceeds the property value?

Yes, all unclaimed property should be reported. Below are some tips that may reduce costs.
  • For small credits or outstanding checks, it is as easy to transfer them to a liability account as an income account.
  • Transfer unclaimed property "candidates" to an unclaimed property liability account to simplify research and reporting. If you have a specific issue, contact our staff.
  • Holders may request to delay reporting abandoned property until they have a reasonable amount to report sending an e-mail requesting permission.

Q. If the holder cannot find the owners, how will the state be able to locate them?

  • The Department advertises in local newspapers statewide
  • We send letters to the last known address to owners of property over $75.
  • We have an owner locator that uses a variety of techniques to locate owners using internet databases

Q. We paid an owner funds that were reported to your office. How do we get our money back?

  • Complete a Certificate of Holder

    AND
  • Send proof of repayment such as a copy of a cancelled check or a statement signed by the owner acknowledging receipt of the funds.

    We encourage Holders to e-mail us the account name immediately to note the repayment in our system to prevent paying the owner a second time.

Q. We reported property to you in error? How do we get our money back?

To reclaim the funds send a written explanation requesting the funds be returned to your company. The request must include:
  • The items that were reported in error (year reported, owner names reported, and the amount for each owner).
  • An explanation as to why the funds should have not been reported.

Q. Can I report electronically?

Yes, we are able to accept your report electronically in the NAUPA format.
  1. To view the NAUPA layout visit http://www.unclaimed.org.
  2. To download FREE reporting software (HRS-PRO) visit http://www.wagers.net.

Q. Do you accept the new NAUPA format?

Yes.

Q. Can I send you my report via e-mail?

Yes, through our Secure Messaging system. Reports contain confidential information about owners and should not be sent by regular e-mail.

To use Secure Messaging, simply go to http://dor.wa.gov, and click on "Register Now" on the right side of the screen. The system will walk you through the registration process to start sending secure messages that are not tax account-specific.

Once registered, you will be taken to a screen similar to other e-mail programs. Select "New Message." On the "TO" line, select "Unclaimed Property." You can then send us a message and attach files, such as your electronic report.

Q. We discovered "past due" property and would like to report it without penalty. Does your office accept voluntary disclosure agreements?

Yes, send an e-mail requesting "voluntary disclosure" or contact Patrick Tate at (360) 570-3252 for more information. In most cases we are able to arrange a voluntary disclosure agreement.

Q. How do I open or close my Unclaimed Property account?

To open an account:
  • Send your completed Summary and Detail report.
  • We will open an account when we get your first report and assign a holder reporting number.
  • Once opened, you will receive annual mailings from our office including our newsletter and reporting booklet.
To close or inactivate your Unclaimed Property account:
  • Check the appropriate box on the Summary Report form and return the form to our office.
  • Mail or fax a written request to our office with your request.

Q. How do I obtain a Holder Reporting Number?

A Holder Reporting Number is assigned once we receive your first report. To get a holder reporting number prior to submitting your report, please request a holder number from our office via e-mail. In your e-mail include your business name, FEIN, and mailing address.

Q. What category code do I use?

Use the code you believe best describes the funds you are reporting to our office. The code description is printed on claim forms and helps the owner understand what was lost and what proof they will need to provide.

Q. Can I send all the money to your state or report to each state?

Yes, if you are incorporated in our state. You must follow each state’s abandonment periods even if you are reporting the funds through our state. We will pass along other state's property based on the owner's address you report.

If you are already reporting to multiple states, you should request permission from the other to report via our state.

If you are incorporated in another state, you may report Washington property via that state if we have an exchange agreement. You should check to see which states we have agreements with and notify our office of your intent to report to a different state.

Q. Do you accept Wagers (HRS) reporting software?

Yes.

Q. What happens if I file late?

Your company may be subject to late payment interest and other civil panalties.

Interest for late filing is charged from the date the property was due until paid. Generally, if you find and correct a missed reporting on your own, we will not assess penalties and interest.

Civil penalties for intentionally failing to report include: 100% penalty for the value of the property not reported $100 per day for each day the report is withheld up to $5,000

Employees responsible for filing reports who knowingly withhold reports may be prosecuted and subject to a fine of $1000 plus one year in jail.

A reminder notice is sent out to accounts that appear to be delinquent for the previous year's report.

Q. How do I find out more information about upcoming workshops regarding unclaimed property reporting?

Holder workshops are offered throughout the state each year. You may view the schedule and register online.

Q. How long do I have to keep my report and working file after I report?

You should keep a copy of your unclaimed property report and the working file for six years after you file. Other than that, follow your normal record retention requirements.

Q. We mailed out a check to a customer and it came back undeliverable. Do we report the incorrect address or just list it as unknown?

Report the last known address, even if it is undeliverable. We use the address to establish the owner's claim to the property.
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