Online Reporting Portal
INSURANCE FILING UPDATE MARCH 27, 2020
NRS 120A.560 requires insurance companies file holder
reports prior to May 1 and all other Holders to report prior to November 1 of each year.
Reminder that changes to NRS 120A.730 mandate a processing
fee assessment for all payments not received through the reporting website,
which utilizes ACH Debit payments. If
you cannot pay via ACH Debit, prior written authorization granting an exception
is required from the Unclaimed Property Division. Exceptions may be requested
using form UP-10 (Streamlined Version). The current submission and approval process has been streamlined to remove any need for printing, scanning or wet signatures in an attempt to facilitate current remote working environment.s All
exceptions are valid for one payment and must be resubmitted for any subsequent
reports that cannot be paid via ACH Debit.
Commonly Used Terms
For first time filers sometimes the terms can be a bit confusing, these might help:
A Holder is a business or individual who has custody of abandoned property that belongs to another business or individual. Any business that takes deposits, issues refunds, has payroll, etc. can be a Holder.
Due Diligence is attempting to contact the owner of the property to return it directly to them before turning it over to the State. The requirement is to send written legal notification from the holder of abandoned property, valued at $50 or more, to the owner's last known address on file, informing the owner that their property will be remitted to the state of their last known address if a response is not received by a certain date.
Property is a general terms used to refer to things of value that are in the custody of the holder. It can be things such as:
- Intangible property, such as checking and savings accounts, uncashed checks, gift cards and certificates, money orders, insurance policies, stocks, payroll, as well as numerous other property types or;
- Tangible property would be anything contained in safe deposit boxes at a financial institution or a safekeeping depository business.
Common Questions We Receive
1. Do I have to file Unclaimed Property?
If the answer to any of the following questions is "YES", your business or government agency has the potential for generating unclaimed property and you should be filing a report with the State of Nevada's Unclaimed Property Division:
- Are you incorporated in Nevada?
- Do you maintain publicly traded stock?
- Do you have locations within Nevada?
- Do you have other entities in Nevada for which you do the accounting?
- Do you issue payroll or commission checks to Nevada residents?
- Do you deal with Nevada vendors?
- Do you report "abandoned property" to another state that turns it over to the State of Nevada?
2. When do I have to report?
That depends on the type of business you are in. If you are an insurance company you must report annually by April 30th. For all others, you are required to report annually by October 31st. Holders that need to report out of compliance must send an email with the reason for doing so to firstname.lastname@example.org for consideration. Avoid potential penalties and interest by being sure to file on time.
3. How do I know if you received my report and/or payment?
Log into your user account at holder.nevadaunclaimedproperty.gov. Your dashboard will show the status of all of the reports you have uploaded and also if a payment is still due.
4. How do I create a NAUPA file?
Instructions for creating a NAUPA file are located at www.wagers.net. The website contains links to the software, frequently asked questions, as well as, a user's guide and contact information for assistance.
5. How do I report online?
Holders filing for the first time must read our Holder Reporting Manual prior to attempting to submit a report online. The manual provides instructions and information on how, why and when to report. Go to http://www.nevadatreasurer.gov/ click on the Unclaimed Property tab, where you will find links to the manual, online registration and reporting. If there are questions after attempting to file, send an email to email@example.com.
6. Can I pay other than by ACH debit or can you provide your payment instructions for sending a wire or ACH?
The required method of payment is by ACH debit; however, certain allowances may be made in extenuating circumstances. If unable to pay by ACH debit, complete the form (ACH Debit Exception Form) and email it to firstname.lastname@example.org for consideration.
7. Am I required to file an annual report even if I don't have anything to report?
An annual report of unclaimed property is required if a Holder meets at least one the following qualifications:
- The business/individual is currently registered with the Nevada Secretary of State.
- The business/individual has a Nevada business license.
If the business/individual cannot answer 'yes' to at least one qualification, do not file a report.
If you can answer "yes" to any of the qualification, then you need to report, even if there is no property, in the form a Negative Report. To complete this, go to https://holder.nevadaunclaimedproperty.gov/ and create a user account, if you don't already have one. Click on "create a report" where you will find the option to "Start a Negative Report". Enter a few basic pieces of information about the company and submit.
8. Can I file my report early, before the dormancy period expires (file early or out of compliance)?
Depending on the circumstances, Nevada Unclaimed Property may accept reports sent early or outside of the required reporting window on a case-by-case basis for cause. The holder or individual must send an email to email@example.com explaining the reason for consideration.
Check your reports closely for when property is due! If property is remitted early without prior approval, it will not be refunded, unless the holder has returned the property to the owner.
9. Can you send me a copy of my report? We are being audited and need proof we filed.
First, try logging into your reporting user account and you will see on your dashboard, all reports that have been submitted. If you need additional information, remember that holders are required to maintain reports submitted to Nevada for a period of seven years after the report has been filed, so you may have records available internally. If you still need information or confirmation from the State, holders requesting proof of filing will receive a printout of all properties submitted on the report if it was filed online. If applicable, holders will receive an imaged copy of the actual report filed.
10. What if I was supposed to report in the past, but didn't do so?
Holders in this situation should send an email to firstname.lastname@example.org to provide the reason for not filing and wait for further instructions or request to submit a Voluntary Disclosure Agreement, if you are a first time filer.
11. What is the status of my Request for Holder Reimbursement (I returned property to an owner which I had already remitted to the State)?
Requests are typically handled promptly; however, please allow at least 30 business days for processing. Send an email to email@example.com if no response has been received after 30 business days have lapsed.
12. If I need to call or email with questions, what information should I have available for you to be able to assist me?
To expedite your questions, be prepared to provide your contact information, the business/individual's name, and FEIN/TIN and the nature of your questions. If contacting us via email, please include this information therein.
For more information or general questions, please send e-mail to firstname.lastname@example.org