HOLDER REPORTING MANUAL
STATE OF VERMONT TREASURER OFFICE
Unclaimed Property Division
UNCLAIMED PROPERTY REPORTING STEPS,
REQUIREMENTS AND STATUTES
Revised 2021
Table of Contents
TABLE OF CONTENTS ____________________________________________________________________________ I
INTRODUCTION ________________________________________________________________________________ 1
AMOUNTS TO REPORT ___________________________________________________________________________ 2
THE ROLE OF HOLDERS ___________________________________________________________________________ 2
Holder Reporting Responsibilities __________________________________________________________________ 2
OVERVIEW ____________________________________________________________________________________ 3
Topics Covered _________________________________________________________________________________ 3
Online-Filing Options ____________________________________________________________________________ 4
Errors, Disk Problems __________________________________________________________________ 4
NAUPA File Encryption Utility ___________________________________________________________ 4
Frequently Asked Questions ______________________________________________________________________ 4
PROPERTY CODES & TYPES ______________________________________________________________________ 5
Vermont Statute: Definition of Unclaimed – Abandoned – Property ______________________________________ 5
Escheatment of Property: Jurisdiction to Escheat _____________________________________________________ 5
HOLDER TYPES ________________________________________________________________________________ 6
Who and/or What is a Holder? ____________________________________________________________________ 6
Holder Types ___________________________________________________________________________________ 7
REPORTING STEPS _____________________________________________________________________________ 8
REPORTING STEPS IN DETAIL _______________________________________________________________________ 9
THE LAW ____________________________________________________________________________________ 9
FINANCIAL BOOKS & RECORDS REVIEWS _______________________________________________________________ 9
LAST TRANSACTION/ACTIVITY DATE AND CUSTOMER CONTACT ________________________________________________ 9
DUE DILIGENCE ________________________________________________________________________________ 9
QUANTITY OF PROPERTIES ________________________________________________________________________ 10
REPORT FORMATS _____________________________________________________________________________ 14
DATA ENTRY _________________________________________________________________________________ 14
UPDATES ___________________________________________________________________________________ 14
FINALIZATION ________________________________________________________________________________ 14
REMITTANCE AND PAYMENT ______________________________________________________________________ 15
PROPERTY REMITTANCE AND DELIVERY ___________________________________________________________ 16
Physical Delivery _____________________________________________________________________ 16
Worthless or Non-Transferable Securities _________________________________________________ 17
Proceeds from Checking, Savings or Other Financial Institution Account ________________________ 17
Safe Deposit Boxes ___________________________________________________________________ 17
Other Tangible Property _______________________________________________________________ 18
REPORTING FORMS ___________________________________________________________________________ 19
NEGATIVE REPORTS ___________________________________________________________________________ 20
RECIPROCAL REPORTING _______________________________________________________________________ 21
HOLDER REIMBURSEMENT _____________________________________________________________________ 22
VOLUNTARY COMPLIANCE PROGRAM ____________________________________________________________ 23
VCP Eligibility _________________________________________________________________________________ 23
VCP Look-Back Period __________________________________________________________________________ 23
Records Unavailable for the Look-back Period _____________________________________________ 23
Program Duration ______________________________________________________________________________ 24
Examination Provision __________________________________________________________________________ 24
VCP Participation ______________________________________________________________________________ 24
VCP Terms and Conditions _______________________________________________________________________ 24
Vermont Compliance Program Process _____________________________________________________________ 24
GLOSSARY __________________________________________________________________________________ 26
TABLES _____________________________________________________________________________________ 28
CONTACT INFORMATION _________________________________________________________________________ 33
IMPORTANT DATES ____________________________________________________________________________ 34
DORMANCY PERIODS ___________________________________________________________________________ 34
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Introduction February 2021 Page 1
INTRODUCTION
The Unclaimed Property Division of the State of Vermont Treasurer Office practices a
vital consumer-protection role as custodian of abandoned or lost assets.
Designed to successfully reunite owners with lost or abandoned assets, unclaimed
property programs exist throughout the United States and in Puerto Rico, the U.S. Virgin
Islands as well as three Canadian Provinces: Quebec, British Columbia, and Alberta.
The concept stems from feudal England, where it pertained primarily to lands. Today it
excludes real estate and covers various types of monetary assets:
The Revised Uniform Unclaimed Property Act (RUUPA) is the latest revision to the Uniform
Unclaimed Property Act, first promulgated in 1954 and last updated in 1995. The act requires
holders of unclaimed property to turn it over to the state unclaimed property administrator after
a suitable dormancy period so the administrator can attempt to reunite the property with its
rightful owner. RUUPA updates numerous provisions and addresses, life insurance benefits,
securities, dormancy periods, and use of contract auditors.
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Introduction February 2021 Page 2
Vermont’s unclaimed property statutes require entities with abandoned assets on their
balance sheets to report such items to the Unclaimed Property Division of the State of
Vermont Treasurer Office. Use this manual as a guide for report preparations. The law
excludes land, real estate and – except for bank-held safe deposit box contents – other
tangible property.
Amounts to Report
No amount can be written off to income or surplus; there are no de minimis amounts.
ALL amounts must be reported, even a penny. In addition, the following scenarios do
not eliminate the requirement to report property to the State of Vermont:
• Internal activities: e.g., service charges, interest credits, dividends, automatic dividend
reinvestment and automatic withdrawals
• Automatic deposits: from one dormant account into another dormant account (e.g.,
transfer of interest from a time account to a dormant savings account)
• The “Void after XXX days” shown on the face of check: although the business considers a
check invalid after a specified time period, the underlying obligation remains and, those
funds, once having reached their dormancy thresholds, must be reported
The Role of Holders
Reporting owner details accurately in prescribed formats enables holders to play an
integral role in helping states reunite abandoned assets with their rightful owners.
Besides assisting states in maintaining the integrity of owner data, holders show a
commitment to Corporate Social Responsibility components.
The Unclaimed Property Division of the State of Vermont Treasurer Office reviews all
reports for accuracy before adding the items to the owner database used to process
and pay property claims. Your efforts in helping protect consumer property and comply
with Vermont State Unclaimed Property Statutes are appreciated.
Holder Reporting Responsibilities
▪ Maintain unclaimed items intact until remitted to Unclaimed Property Division.
▪ Make a diligent effort to locate owners.
▪ Report yearly and accurately.
▪ Retain records for 10 years after filing report.
▪ File safe box reports “separately” from yearly financial reports.
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Overview February 2021 Page 3
OVERVIEW
This Unclaimed Property Holder Reporting Manual provides basic requirements,
procedures and options for filing timely holder reports, which are due May 1 annually in
Vermont.
Topics Covered
▪ Unclaimed Property Law, Terminology
▪ Reporting Requirements
o Manual vs digital reporting
o Forms: cover sheet, schedules, report and affidavits
o Due diligence
▪ Property Types and Codes
▪ Dormancy Periods
▪ Reporting Process
o Preparation: pre-reporting and actual reporting
o Delivery and payment
o Holder Reimbursement
o Reciprocity
▪ Voluntary Compliance Program
▪ NAUPA Codes for Relationship, Owner, Property Types
▪ Contact Information and Important Dates
▪ Forms
On-line Filing Options
This manual also introduces third-party online applications; technical support for each is
provided by the application manufacturer.
Submit reports directly to the State of Vermont Unclaimed Property Division through
either the Vermont Holder Reporting Website (Preferred method),
https://vermontholder.unclaimedproperty.com/, UPExchange (if already a client) or
UPExpress (if you created your file using HRSPro or some other application). UPExpress is
free to use. *
HRS Pro
Free downloads of HRS Pro Standard Edition – created and supported by Wagers
and Associates - are available; however, prior to downloading the software,
review the HRS Pro User Guide and HRS Pro How-To section shown on that page.
UPExchange™ UPEnterprise UPExpress Vermont Holder Reporting Website
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Overview February 2021 Page 4
Vermont’s Holder Reporting Website is a Vermont dedicated website that is supported
by Avenu Insights & Analytics and is the State’s preferred method of reporting. A Holder
Website User’s Manual and a Holder Manual and Codes are tools to help holder
navigate the website to complete NAUPA reporting compliance. A hard copy of the
Report Cover Sheet is still required when submitted via the Vermont Holder Reporting
Website. You can reach our site here: https://vermontholder.unclaimedproperty.com/
UPExchange and UPEnterprise - created and supported by Eagle Technology
Management, Inc. - are web-based tools for managing and reporting
unclaimed property according to NAUPA standards. They can be accessed
online from anywhere and allow holders to grant access to other stakeholders for
efficient collaboration.
A User Guide, interactive tutorials, pre-recorded videos on the system
capabilities, a four-minute overview of its optional models, FAQs and training
webinars are available. ETM also offers complete, ongoing product support by e-
mail (uphelp@eagletm.com) and phone (319.739.3557).
*When submitting reports via UPExpress or UPExchange, hard copies of the report
are no longer required to be submitted; however, a hard copy of the affidavit
cover sheet must be sent with the remittance and/or confirmation page.
Errors, Disk Problems
Using an outdated version of HRS Pro causes problems: holders must use the most
recent version of the software. HRS Pro automatically transfers info from the outdated
system into the new version. Remember: make sure report totals from the outdated HRS
Pro software match those in the updated reporting software.
NAUPA File Encryption Utility
To create the HRS Pro Digital Envelope (HDE extension files) when using software other
than HRS Pro, use the NAUPA File Encryption Utility available from the Wagers Web site.
Frequently Asked Questions
Our FAQs provide answers to questions not found in this manual.
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Unclaimed Property Defined February 2021 Page 5
PROPERTY CODES & TYPES
Property is deemed unclaimed after being held for an extended period with no
documented owner contact and after making unsuccessful efforts to locate the
owner(s). Abandoned – or unclaimed – property typically is divided into two categories:
Vermont Statute: Definition of Unclaimed – Abandoned – Property
Unclaimed or abandoned property consists of intangible (e.g., accounts payable,
uncashed checks, etc.) and tangible (e.g., safe deposit box contents) personal assets
owed to an individual or business.
See Table 1 for a list of NAUPA property codes.
Escheatment of Property: Jurisdiction to Escheat
The primary right to escheat intangible personal property belongs to the state of the last
known address of owner contained in holder records.
When/if no last known address is shown in holder records, the property is escheatable
by the state of holder’s domicile.
NOTE: lack of an address does not relieve holder of the obligation to report and remit
unclaimed property.
Intangible
Wages Stocks
Account Credits Dividend Payments
Uncashed Checks Interest
Utility Deposits Bonds
Patient Refunds
Insurance Proceeds
Tangible
Jewelry
Coins
Personal Papers
Safe Deposit Box Contents
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Holder Types February 2021 Page 6
HOLDER TYPES
As stated: holders play an integral role in helping states return abandoned assets to
their rightful owners and demonstrate a commitment to CSR ethics.
Who and/or What is a Holder?
Vermont state statutes (Title 27-Property/Chapter 18: Unclaimed) define holder as:
The UPPO (Unclaimed Property Professionals Organization) defines a holder as:
“The business or other entity, which holds inactive property, that is payable or
distributable to another.”
And NAUPA (National
Association of Unclaimed
Property Administrators)
defines it as:
“An entity … in possession
of property belonging to
another, or … indebted to
another on an
obligation.”
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Holder Types February 2021 Page 7
Holder Types
Below are some categorized examples of holders:
Banking and Other Financial Organizations/Institutions
• State and federal banks
• Trust companies
• Savings banks
• S&L (savings and loan) associations and thrift institutions
• Credit unions
• Investment companies
Business Associations (wherever located, domiciled or incorporated)
• Corporations
• Joint stock companies
• Partnerships
• Business trusts
• Cooperatives
• Insurance companies
Utilities Owned or Operated for Public Use
• Communications (phone, internet, cable, cellular)
• Electricity
• Gas, petroleum, oil
• Steam
• Water
• Solid waste collection
Other Entities
• State, county and municipal governments
• Public corporations
• Nonprofit organizations, associations, groups
• Estates
• Trusts
• Employers – large and small
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reporting Steps February 2021 Page 8
REPORTING STEPS
Follow these nine steps to complete a holder unclaimed property report:
1.
Review the Unclaimed Property Law.
Determine which sections apply to your organization and/or situation.
2.
Review Financial Books and Records.
Using Vermont state statutes, determine the property types to be examined and their
associated dormancy periods. Review books and records to locate properties subject to
reporting. NOTE: all amounts must be reported.
3.
Perform Due Diligence.
Due diligence must be completed – “not more than 120 days [and no less than] 60 days” -
prior to remitting any funds to the State of Vermont, except when the property value is less
than $50. Review the statutory requirements of the Unclaimed Property Law concerning due
diligence timing, account value and affidavit signing.
4.
Calculate Quantity of Items to be Reported.
Report format options correlate to the number of items reported. Important considerations in
determining this number are: multiple owner accounts, aggregation and account roll-up.
Each of these is described in detail in Report Detail Considerations.
5.
Select Report Format.
Based on the number of items and allowable parameters, choose a format for reporting to
the state. NOTE: an electronic NAUPA format is preferable whenever possible and is
mandatory when reporting more than 10 items.
6.
Enter Data.
Provide all owner and account information in manual or electronic format.
7.
Update Report as Required.
Routinely and continually update the report based on account activity – noting the specifics,
e.g., customer contact, re-activation – until it is finalized.
8.
Finalize Report.
After completing all account adjustments, recalculate the amount being remitted within
property type and in total.
9.
Remit Cash/Securities.
Arrange appropriate delivery (USPS, Express or Electronic mail) based on types of property
and remittances due.
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reporting Steps February 2021 Page 9
Reporting Steps in Detail
The Law – Unclaimed Property law varies by state; §1247 Chapter18, V.S.A. Title 27 covers it in Vermont.
Financial Books & Records Reviews – Common types of unclaimed property include
uncashed payroll or dividend checks, which create a property right protected by state unclaimed
property laws. The Journal of Accountancy and other resources provide insights for identifying these
liabilities on company balance sheets.
Last Transaction/Activity Date and Customer Contact
Determine dormancy from the date of last account contact or activity, e.g., bank deposit by
customer. Customer contact restarts dormancy clock and can be an owner–generated activity
on a dormant account, e.g., written correspondence regarding the account from the customer.
Phone calls are considered customer contact. When speaking with a client, document the
following information:
A. Name of client and person taking the call.
B. Date and time of call.
C. Details of subject account.
The absence of customer contact is the criterion upon which property is designated unclaimed.
Customer response to due-diligence mailings eliminates the requirement to report their property –
at least for another one to three years (based on property type) from the date of their responses
(or the date of the last account activity).
The last activity date can be the date
▪ of the last account deposit or withdrawal by the owner.
▪ when dividends became payable.
▪ of issuance of the check or draft.
▪ when property became distributable to the owner.
▪ of mandatory withdrawal.
When the property in question is an instrument payable on demand, use the issuance date. The
check reissue date or date of a computer conversion cannot be considered the last activity date.
Reporting Requirements by Property Type
This document contains descriptions of reporting requirements by the property type.
Due Diligence – Due diligence is the responsibility of the holder. Holders must take reasonable
measures to locate owners of apparently abandoned property before filing a report.
State statute §1247 (e) Chapter18, Title 27 obligates holders to attempt communications with owners
before presuming property is abandoned when all the following apply:
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reporting Steps February 2021 Page 10
▪ holder records contain an accurate address for the owner(s);
▪ the claim of the apparent owner is not barred by the statutes of limitation;
▪ property value is at least $50.
Holders must send written notification to owners advising them that their property will be escheated to
the Unclaimed Property Division of the State of Vermont Treasurer Office. This is to be done at no cost to
the owner – and no more than 180 days or less than 60 days – prior to filing a report.
Due Diligence Results
Affidavit of Due Diligence
Statute 27 §1247(h) stipulates the Affidavit of Due Diligence must be included for every report. Submit the
affidavit (if/when applicable) with signature authority as follows:
Public Corporation - a designated employee or representative from third-party preparer must sign
Privately Held Corporation or Association - an officer must sign
Partnership - a partner must sign
Holders must ensure:
• the affidavit section listed on the Annual
Compliance Report Cover Sheet is
completed and signed by the proper
person;
• the report cover sheet is signed by an officer
or a designated representative to protect
against liability on claims for reported
property.
Quantity of Properties – When reporting more than 10 items, holders must file reports in NAUPA
format on a compact disk, 3.5-inch diskette or thumb/flash drive included with a printout of the report.
Due diligence letter returned as undeliverable.
No response from the owner of the property.
Property Deemed Unclaimed or Abandoned.
Property NOT Deemed Unclaimed or Abandoned.
Owners send written reply indicating their intentions for the handling of their funds.
John Q. Public
194
An officer (or designated
staff) of the reporting entity
must:
▪ Complete the affidavit section
▪ Sign the Annual Compliance
Report Cover Sheet where
indicated
▪ Have his/her signature notarized
▪ Ensure Compliance Report
Cover Sheet is included with
reporting package
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reporting Steps February 2021 Page 11
Encrypted files containing the report can be sent by E-mail along with a PDF or MSWord Document file
that contains the report details.
Online options available for reporting include Vermont Holder Reporting Website, HRS Pro by Wagers &
Associates and UPExchange™ and UPEnterprise by Eagle Technology Management, Inc.
When reporting 10 items or less, use manual or electronic reporting: for manual reports, use Schedule A
for all property types except stocks, bonds and other securities; use Schedule B for the latter types. Click
below link to access the two schedules:
Schedule A and Schedule B
Holders with no property to report can file a Negative Report; in Vermont, a negative report is not
mandatory but suggested.
AGGREGATE AMOUNTS
Vermont statute 27 §1247(b)(3) indicates owner and/or property information for items of $25 or
less may be omitted from the report. Instead, aggregate and identify items as shown below (see
page 13 for HRS Pro aggregate example).
• Total individual items of $25 or less into one aggregate
amount based on property type.
• Enter the total number of accounts comprising the
aggregate total in Section 3A of the Compliance Report
Cover Sheet.
• Sum, prior to aggregating, multiple properties of the
same type (e.g., quarterly dividend checks) valued at
$25 or less – and payable in the same year – belonging
to the same owner.
✓ When the sum is $25 or less, include the multiple
amounts in one aggregate record.
✓ If the sum is greater than $25, exclude these from aggregate reporting.
▪ Report them as a single item.
▪ Use the property information from the most recent activity date.
▪ Record the sum as the escheated value.
DO NOT AGGREGATE RECORDS
CONTAINING UNCLAIMED
SECURITIES AND THOSE WITH
OWNERS’ ADDRESSES OUTSIDE THE
STATE OF VERMONT.
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reporting Steps February 2021 Page 12
Enter total number of
accounts comprising
the aggregate in
Section 3A of the
Compliance Report
Cover Sheet.
28
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reporting Steps February 2021 Page 13
Aggregate: HRS Pro Record Samples
ROLLING UP
Do not aggregate amounts more than $25.
Exception: combine amounts of $25.01 or more (payable to a single owner in a given year and
reportable under the same property type, e.g., quarterly dividend checks). When rolling up
dividends, use last check number and date as a property reference; indicate total number of
dividends in the “Comment” field.
Rolling Up:
HRS Pro
Record
Sample
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reporting Steps February 2021 Page 14
Report Formats – All reports, whether created manually or electronically through HRS Pro or other
reporting software, must conform to NAUPA guidelines.
Data Entry – Method of data entry depends upon the reporting format – manual or electronic.
Regardless, to help ensure owners have the best chance of reclaiming their lost assets, be sure to enter:
▪ Full owner name, including any suffixes such as Jr., III, Sr., and middle names, initials
▪ Complete mailing address (even when the address on record is incorrect)
▪ Other identifying details, e.g., social security number, date of birth, account numbers
Updates – Some holders begin preparing reports long before the due date; in those instances, routine
updates are required, e.g., customer contact, re-activations, address corrections. Update reports
routinely until finalizing.
Finalization – After all updates and recalculations, review the report for any inaccuracies. Compile
the package and be sure to include the cover sheet.
All report packages must include:
1. Unclaimed Property Annual Compliance Report Cover Sheet and Verification Checklist
Be sure to:
• show the quantity of accounts under $25 being reported as aggregate in Section 3A
• ensure the “Affidavit of Due Diligence” on the Annual Compliance Report Coversheet
shows the number of due diligence letters mailed
• have the appropriate person sign the document in front of a notary
• indicate on the Checklist (back of Cover Sheet) the types of property being reported
2. NAUPA-formatted report in an encrypted HDE file on CD, diskette, thumb/flash drive (10 items or
less may be manually reported on a Schedule)
3. Printed version of the report (Coversheet, Summary & Detail sheets); if/when reporting securities,
include the transaction report with the report documents
4. Check payable to Vermont State Treasurer Office for the total shown in the “Total Financial
Property Remitted” section on the report; ACH and EFT payments can be used for payment
5. May 1 or earlier postmark; when May 1 occurs on Saturday, Sunday or a holiday, the due date is
the following workday
In accordance with V.S.A. 27, Chapter 18, verification and affidavit shall be executed by:
• Chief fiscal officer or his/her designee, in case of a public corporation
• Partner, in case of a partnership
• Officer, in case of unincorporated association or private corporation
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reporting Steps February 2021 Page 15
Remittance and Payment – Report format and remittance depend on quantity and type of
property reported; regardless, all submissions must include:
• Unclaimed Property Annual Report Cover Sheet (includes the Affidavit of Due Diligence);
• Report detail in NAUPA format on a formatted CD-R or on a memory stick/thumb drive (10 items or
less may be reported manually on Schedules A or B);
• Hard copy (print out) of the report details;
• One check made payable to the State of Vermont Treasurer Office, in the amount shown on
report; if submitting securities, etc., make sure the appropriate preparations have been made,
then contact ACS Unclaimed Property Clearinghouse and include transaction confirmation.
Mail the entire report package to:
State of Vermont Treasurer Office
Unclaimed Property Division
109 State St., 4
th
Floor
Montpelier, VT 05609-6200
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Property Delivery February 2021 Page 16
PROPERTY REMITTANCE AND DELIVERY
INTANGIBLE
Mutual Funds, Stocks, Bonds and Other Securities
Submit confirmation document(s)- listing all owner
identification information - with the reports. Confirmation
documentation must show shares being sent electronically
through DTC (Depository Trust Corporation).
The confirmation/transaction documentation must include:
• fund name
• posted and trade dates
• transaction descriptions
• number and price of shares
• total number of shares remitted
The aggregate amount does not apply when securities and dividends are reported together.
Before Transferring Funds, Securities
Contact Conduent three to four (3-4)
business days prior to delivery/transfer.
Conduent provides account numbers
for all mutual funds transferred to the
state account.
NOTE: Holder remains the custodian of all mutual funds.
• All shares / securities transferred to the State of
Vermont must be registered in the name Mac & Co.
• Submit a confirmation report with owner
identification information.
• When owner reclaims funds, the State of Vermont
transfer agent - Conduent - sends to the holder the
paperwork required to transfer account(s) into the
name of claimant/owner.
Physical Delivery
Shares - must be registered to the State of Vermont Treasurer’s Office; documentation /
proof that shares have been remitted must be included with report. Deliver securities to
the state custodian: Unclaimed Property Clearinghouse UPCH.
Owner's Name
Last Known Address
Social Security or FEIN Number
Last Activity Date
Relationship Code
NAUPA Property Type
Security Name
CUSIP Number and/or Any
Other Identifying Number
Number of Shares
Owner ID and Property Info
DTC
#901
Account #822487
Account Name Mac & Co
Agent Bank #26500
DTC Account Delivery Details
Conduent State & Local Solutions, Inc
100 Hancock St., 10th Floor
Quincy, MA 02171
E-mail: [email protected]
Facsimile: 617.722.9660
For Stocks, Shares – Victoria Perkins, Account
Administrator
For Mutual Funds – Timothy Woodward
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Property Delivery February 2021 Page 17
Certificates - must be mailed with the report.
Mutual funds and Dividend Reinvestment Plans - must
be transferred into name of the State of Vermont
Treasurer and include the complete fund name and
CUSIP number.
Dividends & Securities - put both property types on
the same report and include the information shown in the “Listed Identification” box
shown on this page.
Worthless or Non-Transferable Securities - do not report non-transferable
positions/securities. Report and remit the shares if, and when, they become transferable
or gain value. Holder will not be penalized for late reporting.
Fractional Shares - liquidate and remit the cash proceeds; if they are mutual funds, then
escheat accordingly.
Proceeds from Checking, Savings or Other Financial Institution Account - report as cash
and use wire transfer or check to remit to the State of Vermont.
TANGIBLE
Safe Deposit Boxes
Deliver Safe Deposit Box contents after September 1. Due Diligence is not required prior to
reporting Safe Deposit Box contents. May 1 remains the due date for reporting them as
abandoned; however, delivery must be made no more than120 Days after that date.
• Before May 1, file the annual compliance report cover sheet showing the estimated
delivery date and number of safe deposit boxes to be delivered.
• At some point after Sept. 1, deliver safe deposit box contents to the state (when
shipment date differs from the estimated date shown on the annual compliance report
cover sheet, contact the Vermont Unclaimed Property Division and advise of the dates
change: by phone - 802.828.1490 or by email: tre.upcompliance@vermont.gov).
o complete Safe Deposit Box Cover Sheet
o be sure cover sheet affidavit is signed by authorized representative (and the
signature is notarized)
o attach Inventory Report page(s) to each safe deposit box contents package
o put all contents packages into shipping container
o pack Safe Deposit Box Cover Sheet with shipment
Issue name
Issue CUSIP number
Share amount per issue
Holder DTC number
Confirmation Must Include
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Property Delivery February 2021 Page 18
Steps:
1.
Enter number of boxes to be delivered and the estimated delivery date on the Unclaimed
Property Annual Compliance Report Cover Sheet.
2.
Inventory safe deposit box contents.
3.
Use the Unclaimed Safe Deposit Box Contents Inventory Report:
a. add holder name and safe deposit box charges, drill abandonment details
b. enter owner name and last known mailing address
c. use SD01 or another applicable property code to individually identify contents
d. indicate number of pages for each inventory
e. repeat these steps for each box to be shipped
Other Tangible Property
Other Tangible Property has a three-year dormancy period. If declared abandoned, follow all
steps for reporting and remitting safe deposit box contents.
Property used as loan collateral is considered unclaimed three years after:
▪ loan was paid in full or charged off and item is still being held by holder and cannot be
matched to an open account
▪ zero customer contact and “owner” whereabouts is unknown
Examples of tangible property include jewelry, stock certificates, furs, deeds.
REMITTANCE OPTIONS
Full payment of the amount shown on report must be included with the annual filing. Two
options available for remitting payment:
▪ enclose a check made payable to the Vermont State Treasurer with each report filing
▪ remit funds through Automated Clearing House (ACH) or Electronic Fund Transfer (EFT)
Obtain ACH and EFT wire transfer instructions by e-mailing the Unclaimed Property Division
(tre.upcomplian[email protected]) or calling (802.828.2407).
NOTE: the state provides this information only via facsimile. Wire transfer instruction requests must include:
• your name
• holder name and mailing address
• your phone number
• a fax number to where instructions should be sent
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reporting Forms February 2021 Page 19
REPORTING FORMS
Click icons to access forms; all can be downloaded from the Unclaimed Property Division page
of the Office of the State Treasurer Web site in Microsoft Word and Adobe Acrobat files.
Document Title
PDF Files
Annual Compliance Report Cover Sheet
Compliance Report
Cover Sheet
Holder Reimbursement
Holder
Reimbursement Request
Safe Deposit Box Cover Sheet
Safe Deposit Box
Cover Sheet
Safe Deposit Box Inventory Report
Safe Deposit Box
Contents Inventory
Schedule A – General Property (10 and fewer)
Schedule A
Schedule B – Stocks, Bonds, Mutual Funds (10 and fewer items)
Schedule B
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Negative Reports February 2021 Page 20
NEGATIVE REPORTS
Vermont Unclaimed Property Statutes do not mandate the filing of negative reports; however,
the state encourages businesses and other entities to file this report with the State Office of the
Treasurer.
A “negative report” indicates to the state that a thorough review of the holder business books
and records has been completed and revealed no unclaimed properties. The Vermont Office
of the Treasurer suggests filing a negative report to show adherence to compliance laws and to
assist it in maintaining accurate internal files.
To File a Negative Report
Use the Unclaimed Property Annual
Compliance Report Cover Sheet.
• Enter zeros for all total lines in Section 3; be sure
to indicate zero in the Safe Deposit Box Details
area.
• Enter the name for the Due Diligence affidavit.
• Make sure an authorized agent of the
reporting organization signs the report in front
of a notary.
NOTE:
Submit negative reports separately from
yearly reportable financial property; do not
combine the reports.
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reciprocal Reporting February 2021 Page 21
RECIPROCAL REPORTING
Reciprocity provides holders an opportunity to file unclaimed property reports for multiple
states through one agent state. “Agent State” is that of the holder place of business.
Except for safe deposit boxes, the State of Vermont accepts property for other states and
countries under the reciprocal agreements as an agent state. Safe deposit boxes must be
reported to the state in which they are located.
Reciprocal reporting is not a requirement. Each holder decides to which state it will report.
When/if taking advantage of reciprocal reporting:
▪ Report and remit in accordance with each state’s Unclaimed Property Law.
▪ Identify and subtotal all accounts – and aggregate accounts – by state.
▪ Do not aggregate out-of-state accounts with Vermont property.
▪ Identify “Negative Reports” by each state.
▪ Notify each reciprocal state of your intent to file an unclaimed property report through
the state where located.
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Holder Reimbursement February 2021 Page 22
HOLDER REIMBURSEMENT
When the holder directly repays the owner after submitting a report that included his/her
property – or when the holder uncovers items erroneously included within a report – the holder
can obtain repayment by submitting a completed Holder Request for Reimbursement form.
Holders can obtain this form directly from the Unclaimed Property Web site.
In addition to the notarized certification, holders must include supporting evidence
substantiating payment to owner: e.g., copy of canceled check(s) – front and back – or
proof of account reactivation, etc.
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Voluntary Compliance Program February 2021 Page 23
VOLUNTARY COMPLIANCE PROGRAM
Vermont requires every business entity to report unclaimed property annually to the state.
To encourage compliance with Vermont unclaimed property laws, the State Treasurer Office
implemented its Voluntary Compliance Program. Available to those holders unaware of their
legal obligation to report – or that have failed to comply with the Vermont Unclaimed Property
Law – the VCP enables them to report unclaimed property liabilities without assessment of any
penalties and interest.
VCP Eligibility
Holders who meet the above requirements are eligible to file a Voluntary Compliance
Agreement, except when the holder
▪ is currently under an Unclaimed Property examination;
▪ has been notified by the State Treasurer Office – or by a third party on behalf of the
State Treasurer Office – of the intent to conduct an unclaimed property audit (includes
all subsidiaries and related parties).
VCP Look-Back Period
Review books and records dating back 10 years; file a report encompassing those and all
subsequent report years. When/if records are unavailable for the full 10-year period, use an
extrapolation and statistical sampling methodology for the missing years. NOTE: Payment to the
State of Vermont for all unclaimed property due for those years must accompany holder
reports.
Records Unavailable for the Look-back Period
Lacking records does not relieve the obligation to report under VSA 27, Chapter 18. When
data are unavailable to complete the full look-back period, use extrapolation and statistical
sampling for those years. Provide the basis for the extrapolation as part of your report;
however, you may be required to submit additional details after a state review of the report.
Vermont statutes mandate no specific formula for calculating estimates and performing
extrapolations. One simple way to estimate – when the company or organization has
remained the same size for the past 10 years – is to average the amount of unclaimed
property for which records exist; apply that average to the years without records.
Contact your accountant for other extrapolation methods.
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Voluntary Compliance Program February 2021 Page 24
Program Duration
Under the VCP, holders are allowed six months to complete the book review, perform due
diligence and file the report. The six-month period starts from the date the state Division of
Unclaimed Property approves and signs the Voluntary Compliance Agreement.
Examination Provision
The State of Vermont reserves the right to audit a Holder issued a Voluntary Compliance
Agreement. When the determination has been made that the property reported under a VCA
is materially under-reported, interest and penalties on all unclaimed property due for all
reporting years may be assessed pursuant to V.S.A. Chapter 18 of the Vermont Unclaimed
Property Law.
VCP Participation
To participate in the Voluntary Compliance Program, interested holders must request the
Voluntary Compliance Agreement by postal mail, fax or email.
Vermont State Office of the Treasurer
Unclaimed Property Division
109 State Street, 4
th
Floor
Montpelier, VT 05609-6200
Fax: 802-828-2884
E-mail: tre.upcompliance@vermont.gov
VCP Terms and Conditions
1. The Voluntary Compliance Agreement may not be altered without written consent of
the State.
2. The “Original” completed and executed Voluntary Compliance Agreement must be
returned with the completed business questionnaire to the Vermont Unclaimed Property
Division.
3. The State of Vermont reserves the right to audit a holder of a Voluntary Compliance
Agreement after the holder has filed their report and paid over property under the
Voluntary Compliance Agreement.
4. The State of Vermont reserves the right to deny or void the Voluntary Compliance
Agreement if a holder does not adhere to the Program policies and procedures.
Vermont Compliance Program Process
1.
A “holder” (company, business, government agency or an association, organization,
etc.) submits a request to participate in the Vermont Voluntary Compliance Program
either through US Postal Service or e-mail (tre.upcompliance@vermont.gov) to the State
of Vermont Office of the Treasurer, Unclaimed Property Division.
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Voluntary Compliance Program February 2021 Page 25
The request must contain the following:
• Business Name
o Type of business
o Primary location address
• Mailing Address
• List of All Subsidiaries (and all related entities) also to be Considered for the VCP
• Federal Employer Identification Number for Each Entity Requesting Participation in the VCP
• VCP Business Contact
o Name
o Title
o Phone number
o E-mail
2.
The Unclaimed Property Division reviews the request.
3.
The UPD confirms eligibility for holder participation in the Voluntary Compliance
Program and sends the Voluntary Compliance Agreement and General Business
Questionnaire to the designated authorized contact. (If eligibility is denied, a letter
advising of such is mailed to the contact.)
4.
The contact ensures the agreement and questionnaire are completed then signed by
an authorized officer, partner or another designated representative.
5.
Holder returns completed Agreement and General Business Questionnaire to the UPD.
6.
The UPD examines the agreement and business questionnaire.
a. If approved, the agreement is signed by an authorized representative of UPD.
b. UPD sends the special VCA Unclaimed Property Annual Compliance Report
Coversheet and Verification Checklist containing the report due date at the top.
7.
The holder completes the requisite review of books, due diligence mailings and the
unclaimed property report.
8.
Holder returns the report with the completed VCA Unclaimed Property Annual
Compliance Report Cover Sheet and Verification Checklist by the indicated due date
to avoid assessment of any penalties and interest.
Vital VCP Points
• Never alter the Voluntary Compliance Agreement without written consent of the State.
• Return the original Voluntary Compliance Agreement signed by an agent along with
the completed business questionnaire to the Vermont UPD.
• Note that the State of Vermont reserves the right to:
o assess interest on any liability reported under the Voluntary Compliance
Agreement when the Agreement has not been received – or an extension has
not been requested and granted – within the allotted six-month period.
o audit a VCP holder after receiving its report and remittance for property covered
under the Voluntary Compliance Agreement.
o deny or void the Voluntary Compliance Agreement should a holder fail to
adhere to the VCP policies and procedures.
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Glossary February 2021 Page 26
Glossary
Below are some frequently used words and terms relative to unclaimed property.
TERM
DEFINITION
ACTIVITY
action taken on property by the owner, e.g., deposits, withdrawals, and
correspondence to the holder; excludes automatic transfers, payments or charges
AGGREGATE
a group of related property types reported as a single line item; owner name and
address are not required when and if the property is valued at $25 or less and
reported as an aggregate
CLAIMANT
a person who believes he/she is legally entitled to unclaimed property; a claimant is
not necessarily the original property owner and can be an heir or someone with a
legal right to claim the property on behalf of the owner(s)
CUSTODIAN
an individual or entity holding property for the benefit and care of the rightful owner
until it is returned to him/her; the Vermont State Treasurer acts as custodian for all
unclaimed property reported to the state
CUT-OFF DATE
date defined by Unclaimed Property Law for determining when property dormancy
thresholds are reached
DOMICILE
the state of incorporation of a business/organization; the state of the principal
place of business of an unincorporated person
DORMANCY PERIOD
time period in which a property owner takes no action on his or her property
DUE DILIGENCE
effort undertaken by a holder to find the rightful owner of unclaimed property
before reporting property to the state
ESCHEAT
a transfer of property to the state for custodial purposes on behalf of rightful
owner(s) – in perpetuity in Vermont
HOLDER
a person obligated to hold for the account of, or deliver or pay to, the owner
property that is the subject of VSA 27 Chapter 18
INCIDENTAL PROPERTY
10 or fewer properties totaling $1,000 or less
INDEMNIFICATION
an agreement that protects a party from loss by transferring responsibility to a third
party
INTANGIBLE PROPERTY
property that represents or is negotiable to cash, e.g., a stock certificate
representing ownership interest in a company or a savings bond with an obligation
to pay a certain amount; both are convertible to cash and represent cash values
LAST ACTIVITY DATE
date of last owner-generated activity or of last documented contact with property
owner; e.g., check issuance date or date of last bank account deposit/withdrawal
LAST KNOWN ADDRESS
location of property owner sufficient for delivery of USPS and other mail
LAWFUL CHARGES
charges specifically authorized either by statute – other than state unclaimed
property laws – or by a valid, enforceable contract and imposed by a holder
against property in its possession
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Glossary February 2021 Page 27
TERM
DEFINITION
NAUPA
National Association of Unclaimed Property Administrators, the official
representative of the state unclaimed property programs, NAUPA is recognized as
the foremost authority on unclaimed property and the affirmed leader of the
coalition of states, administrators and holders working together to reunite rightful
owners with lost or abandoned assets. Members represent all states, the District of
Columbia, the Commonwealth of Puerto Rico, U.S. Virgin Islands, several Canadian
provinces, and Kenya. NAUPA is a network of the National Association of State
Treasurers (NAST)
OWNER
the person having legal or equitable claim to unclaimed property (see “person”)
PERSON
individual or business association, governmental or other public agency,
corporation or authority, estate, trust, two or more persons having a joint or
common interest; any other legal or commercial entity
RECIPROCITY
an agreement of understanding between states whereby each agrees to
exchange information and collect unclaimed property for the other state
REPORT
forms and/or all related documents filed by the holder and listing items of
escheated property and applicable owner information as required by state
Unclaimed Property Statutes
TANGIBLE PERSONAL
PROPERTY
personal property presented by itself, e.g., contents of a safety deposit box such as
coins, jewelry, personal papers
UNCLAIMED PROPERTY
tangible or intangible property unpaid or undelivered to the rightful owner during
the legally specified time period
UNDERLYING SHARES
duplicate shares of stock issued by a business association, banking, or financial
organization: original certificate of these shares is in possession of shareholders who
have failed either to cash the dividends checks or to correspond with issuing
corporation
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reference Tables February 2021 Page 28
Tables
The following tables contain NAUPA codes property types, owner relationships and safe
deposit box contents.
Table #1 – NAUPA Property Types and Codes
NOTE: Report property held by a court, government or governmental subdivision, agency
or instrumentality under the applicable property type using one-year dormancy. For
instance: report vendor checks from a municipality as CK13.
NAUPA PROPERTY TYPES WITH DORMANCY PERIODS
PROPERTY
CATEGORIES
CODE
DORMANCY
PERIOD
PROPERTY TYPE
Account Balances Due
AC01
3
Checking Accounts
AC02
3
Savings Accounts
AC03
3
Matured Certificates of Deposit or Savings Certificates
AC04
3
Christmas Club Accounts
AC05
3
Money on Deposit to Secure Funds
AC06
3
Security Deposits
AC07
3
Unidentified Deposits
AC08
3
Suspense Accounts
AC09
3
401 Accounts
AC99
3
Aggregate Account Balances Due
Court Deposits
CT01
1
Escrow Funds
CT02
1
Condemnation Awards
CT03
1
Missing Heirs' Funds
CT04
1
Suspense Accounts
CT05
1
Bail or Deposits Made with a Court or Public Authority
CT06
3
Victim’s Restitution
CT99
1
Aggregate Court Deposits
Educational
Savings
Accounts
CS01
3
Cash
CS02
3
Mutual Funds
CS03
3
Securities
CS04
3
Miscellaneous
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reference Tables February 2021 Page 29
NAUPA PROPERTY TYPES WITH DORMANCY PERIODS
PROPERTY
CATEGORIES
CODE
DORMANCY
PERIOD
PROPERTY TYPE
Heal
th
Savings
Plans
HS01
3
Health Savings Account
HS02
3
Health Savings Account Investment
Insurance
* Person Outlives Policy Term
IN01
3
Individual Policy Benefits or Claim Payments
IN02
3
Group Policy Benefits or Claim Payments
IN03
3
Death Benefits Due Beneficiaries
IN04
3
Proceeds from Matured Policies / Endowments / Annuities
/ Limited Age *
IN05
3
Premium Refunds on Individual Policies
IN06
3
Unidentified Remittances
IN07
3
Other Amounts Due Under Policy Terms
IN08
3
Agent Credit Balances
IN10
2
Demutualization Funds
IN99
3
Aggregate Insurance Property
IRAS
Traditional IRA
, SEP IRA,
SARSEP IRA & Simple IRA
IR01
3
Cash
IR02
3
Mutual Funds
IR03
3
Securities
IR04
3
Miscellaneous
ROTH IRA
IR05
3
Cash
IR06
3
Mutual Funds
IR07
3
Securities
IR08
3
Miscellaneous
Mineral
Proceeds
MI01
3
Net Revenue Interests
MI02
3
Royalties
MI03
3
Overriding Royalties
MI04
3
Production Payments
MI05
3
Working Interests
MI06
3
Bonuses
MI07
3
Delay Rentals
MI08
3
Shut-in Royalties
MI09
3
Minimum Royalties
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reference Tables February 2021 Page 30
NAUPA PROPERTY TYPES WITH DORMANCY PERIODS
PROPERTY
CATEGORIES
CODE
DORMANCY
PERIOD
PROPERTY TYPE
Miscellaneous Intangible Property
MS01
1
Wages, Payroll, Salary or other compensation for personal
services, including Commissions
MS02
3
Commissions, other than for personal services
MS03
3
Worker's Compensation Benefits
MS04
3
Payment for Goods and Services
MS05
3
Customer Overpayments
MS06
3
Unidentified Remittances
MS07
3
Un-refunded Overcharge
MS08
3
Accounts Payable
MS09
3
Credit Balances/Accounts Receivable
MS10
3
Discounts Due
MS11
3
Refunds Due
MS12
3
Unredeemed Gift Certificates (Prior to 7/1/2006)
MS13
3
Unclaimed Loan Collateral – Paid in Full/Charge-off
MS14
3
Sums Payable under Pension/Profit Sharing Plans
MS15
1
Property Distributable as Result of Dissolution
MS16
3
Miscellaneous Outstanding Checks
MS17
3
Miscellaneous Intangible Personal Property
MS18
3
Suspense Liabilities
MS99
3
Aggregate Miscellaneous Property
Other
VT01
3
Cash Assets
VT02
3
Miscellaneous
VT03
3
Revenue
Securities
SC01
3
Dividends
SC02
3
Interest Payable on Registered Bonds
SC03
3
Principle Bond Payments
SC04
3
Equity Payments
SC05
3
Profits
SC06
3
Funds Paid Toward Purchase Shares/Interest in Financial
SC07
3
Bearer Bond Interest and Matured Principal
SC08
3
Shares of Stock (Returned by Post Office)
SC09
3
Cash for Fractional Shares
SC10
3
Un-exchanged Stock of Successor Corporation
SC11
3
Any Other Certificates of Ownership
SC12
3
Underlying Shares/Outstanding Certificates of Owners
SC13
3
Liquidated/Redemption, Un-surrendered Stocks/Bonds
SC14
3
Debentures
SC15
3
U.S. Government Securities
SC16
3
Mutual Funds
SC17
3
Warrants
SC18
3
Matured Principal on Registered Bonds
SC19
3
Dividend Reinvestment Plans
SC20
3
Credit Balances – Security Notes
SC21
3
Cash in Lieu of Stock
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reference Tables February 2021 Page 31
NAUPA PROPERTY TYPES WITH DORMANCY PERIODS
PROPERTY
CATEGORIES
CODE
DORMANCY
PERIOD
PROPERTY TYPE
SC22
3
Stock Split
SC50
3
Bonds
SC99
3
Aggregate Securities - Related Cash
Tangible
Property
SD01
5
Safe Deposit Box Contents
SD02
5
Other Safekeeping Items
SD03
3
Other Tangible Property
Trust,
Investment
&
Escrow Accounts
TR01
3
Paying Agent Accounts
TR02
3
Undelivered Dividends or Uncashed Dividends
TR03
3
Funds Held in a Fiduciary Capacity
TR04
3
Escrow Accounts
TR05
3
Trust Vouchers
TR99
3
Aggregate Trust Property
Uncashed Checks
CK01
3
Cashier's Checks
CK02
3
Certified Checks
CK03
3
Registered Checks
CK04
3
Treasurer's Check
CK05
3
Drafts
CK06
3
Warrants
CK07
7
Money Orders
CK08
15
Traveler's Checks
CK09
3
Foreign Exchange Checks
CK10
3
Expense Checks
CK11
3
Pension Checks
CK12
3
Credit Checks or Memos
CK13
3
Vendor Checks
CK14
3
Any Checks Written Off to Income/Surplus
CK15
3
Outstanding Official Checks or Exchange Items
CK16
3
CD Interest Checks
CK17
3
Bank Money Orders
CK99
3
Aggregate Uncashed Checks
Utilities
UT01
3
Utility Deposits
UT02
3
Membership Fees
UT03
3
Rebates
UT04
3
Capital Credit Distributions
UT99
3
Aggregate Utility Property
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reference Tables February 2021 Page 32
Table #2 – NAUPA Owner Relationship Codes Table #3 – NAUPA Owner Type Codes
Table #4 –Tangible Property Codes
Table #5 – Deductions/Withholdings
CODE
OWNER TYPE
AG
Aggregate
BU
Business/Corporation
FD
Federal, US Government
IN
Individual
NP
Not Published
UN
Unknown
VT
Vermont Agency
CODE
OWNER RELATIONSHIP
AD
Administrator
AF
Attorney For
AG
Agent For
AN
And
AO
And/Or
AS
As Trustee For
BF
Beneficiary
CC
Co-Conservator
CF
Custodian For
CN
Conservator
ES
Estate Of
EX
Executor or Executrix
FB
For Benefit Of
GR
Guardian For
HR
Heirs
IN
Insured
IT
In Trust For
JC
Joint Tenants (In Common)
JT
Joint Tenants (Survivorship)
OR
Or
PA
Payee
PO
Power of Attorney
PR
Personal Representative
RE
Remitter
SO
Sole Owner
TE
As Trustee For
UG
Uniform Gift Minors Act
UN
Unknown
CODE
SAFE DEPOSIT BOX
BOND
Savings Bonds & Others
CNS
Coins
CURR
Currency
DOC
Paper Documents
JEWL
Jewelry
MISC
Miscellaneous Other
Tangible Property
STMP
Stamps
WEAP
Weapons (various)
WILL
Signed Wills
CODE
DEDUCTION/WITHHOLDING
DW
Dividends Withheld or
Discontinued
IW
Interest Withheld or
Discontinued
MC
Mailing Cost
SW
Service Charge
TW
Income Tax Withheld
ZZ
Deduction Code Not
Identified Above
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Contact Information February 2021 Page 33
Contact Information
Web Site:
Office of the Treasurer of the State of Vermont – www.vermonttreasurer.gov
Unclaimed Property Division – www.vermonttreasurer.gov/unclaimed-property
Vermont Holder Reporting Website – https://vermontholder.unclaimedproperty.com/
E-mail:
Office of the State Treasurer – treasurers.office@vermont.gov
Unclaimed Property – unclaimed.property@vermont.gov (public)
Unclaimed Property – tre.upcompliance@vermont.gov (holders)
Phone & Fax:
Office of the State Treasurer – 802/828-2301
Unclaimed Property Division – 802/828-2047 (or toll-free in Vermont only - 800/642-3191)
Unclaimed Property Division Fax – 802/828-2884
Location and Mailing Address:
State of Vermont Office of the Treasurer
Unclaimed Property Division
109 State Street, Fourth Floor
Montpelier, Vermont 05609-6200
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reporting Dates & Periods February 2021 Page 34
Important Dates
May 1 – Date Vermont Unclaimed Property Holder Reports and Remittances are due – or
postmarked by – for the previous calendar year*
See Table 1 - NAUPA Property Types and Codes for dormancy periods by property reported.
* When May 1 occurs on a weekend or holiday, reports are due the first following workday.
HOLDER TYPE
PROPERTY TYPE
DORMANCY
PERIOD
LAST ACTIVITY
DATE
REPORTING
PERIOD
REPORT &
REMIT DUE
All Holders
Wages
1 year
01/01/19 -
12/31/19
01/01/20 –
12/31/20
05/01/2021
Courts,
Governments,
Governmental
subdivisions
Any amounts
payable or
distributable
1 year
01/01/19 -
12/31/19
Corporations
Stocks, Dividends,
Vendor Checks,
Credit Memos,
Pensions, etc.
3 years
01/01/17 –
12/31/17
Banks &
Financial
Institutions
Dormant Accounts,
Uncashed
Checks
3 years
01/01/17 –
12/31/17
Banks
Safe Deposit Boxes
5 years
01/01/15 –
12/31/15
All Holders
Money Orders
7 years
01/01/13 –
12/31/13
Traveler’s Check
15 years
01/01/05 –
12/31/05
Dormancy Periods
Dormancy refers to the period during which the owner of the property takes no action on his/her
property. Property types may be grouped by dormancy periods into the following categories:
1 YEAR
Wages/Payroll; Properties Reported by Court or Governmental Entities; Property Distributable
in Dissolution
2 YEARS
Demutualization Proceeds
3 YEARS
All Other Property Types (includes Bank Money Orders)
5 YEARS
Safe Deposit Box Contents
7 YEARS
Money Orders
15 YEARS
Traveler’s Checks
Vermont Unclaimed Property Reporting Manual
Holder Reporting Manual: Reporting Dates & Periods February 2021 Page 35
PROPERTY SUBJECT TO REPORTING (VCA 10 YEAR PERIOD)
ITEMS THAT WERE ISSUED OR HAD A LAST ACTIVITY DATE DURING
1/1/2001 thru 12/31/2010 May 1, 2011
1/1/2002 thru 12/31/2011 May 1, 2012
1/1/2003 thru 12/31/2012 May 1, 2013
1/1/2004 thru 12/31/2013 May 1, 2014
1/1/2005 thru 12/31/2014 May 1, 2015
1/1/2006 thru 12/31/2015 May 1, 2016
1/1/2007 thru 12/31/2016 May 1, 2017
1/1/2008 thru 12/31/2017 May 1, 2018
1/1/2009 thru 12/31/2018 May 1, 2019
1/1/2010 thru 12/31/2019 May 1, 2020
1/1/2011 thru 12/31/2020 May 1, 2021
1/1/2012 thru 12/31/2021 May 1, 2022
1/1/2013 thru 12/31/2022 May 1, 2023
1/1/2014 thru 12/31/2023 May 1, 2024
WAGES - ONE YEAR DORMANCY PERIOD
ITEMS THAT WERE ISSUED OR HAD A LAST ACTIVITY DATE DURING
1/1/2001 thru 12/31/2010 May 1, 2012
1/1/2002 thru 12/31/2011 May 1, 2013
1/1/2003 thru 12/31/2012 May 1, 2014
1/1/2005 thru 12/31/2014 May 1, 2015
1/1/2005 thru 12/31/2014 May 1, 2016
1/1/2006 thru 12/31/2015 May 1, 2017
1/1/2007 thru 12/31/2016 May 1, 2018
1/1/2008 thru 12/31/2017 May 1, 2019
1/1/2009 thru 12/31/2018 May 1, 2020
1/1/2011 thru 12/31/2020 May 1, 2021
1/1/2011 thru 12/31/2020 May 1, 2022
1/1/2012 thru 12/31/2021 May 1, 2023
1/1/2013 thru 12/31/2022 May 1, 2024
MOST PROPERTY - 3 YEAR DORMANCY PERIOD
ITEMS THAT WERE ISSUED OR HAD A LAST ACTIVITY DATE DURING
1/1/2001 thru 12/31/2010 May 1, 2014
1/1/2005 thru 12/31/2014 May 1, 2015
1/1/2003 thru 12/31/2012 May 1, 2016
1/1/2004 thru 12/31/2013 May 1, 2017
1/1/2005 thru 12/31/2014 May 1, 2018
1/1/2006 thru 12/31/2015 May 1, 2019
1/1/2007 thru 12/31/2016 May 1, 2020
1/1/2011 thru 12/31/2020 May 1, 2021
1/1/2009 thru 12/31/2018 May 1, 2022
1/1/2010 thru 12/31/2019 May 1, 2023
1/1/2011 thru 12/31/2020 May 1, 2024
UNCLAIMED PROPERTY REPORTING SCHEDULE
REPORT BY
REPORT BY
REPORT BY
Current Yr Reporting
Current Yr Reporting
Current Yr Reporting
