Ala. Admin. Code r. 892-2-1-.03

Current through Register Vol. 43, No. 1, October 31, 2024

Section 892-2-1-.03 - Holder Reporting: Filing Annual Reports

(1) Holder reports annually to Treasurer's Office on or before November 1^st.

(2) If the Holder is requesting a filing extension or exception to electronically filing the report, or other matter, the request must be in writing to the Treasurer's Office at least 15 days prior to November 1^st. This request should include the following:

(a) Purpose of the request;

(b) Specifically state the extension period and/or exception requested;

(c) Provide reason for the request.

(3) The reporting file standard format is available on the website and must be used unless approved by the Treasurer's Office.

(4) Incomplete or unbalanced reports will be returned to the Holder within one year of receipt.

(5) Individual items less than fifty dollars ($50) may be aggregated, except recurring payments such as dividend, royalties, annuities, and similar continuous payments. Owner detail information should be included with the aggregated report.

(6) A Holder that has reportable Abandoned Property from a previous year and has not reported the property may file a Voluntary Disclosure Agreement. This voluntary filing will enable the Holder to report without incurring penalties.

(7) Worthless securities declared as such by the company should not be remitted as Unclaimed Property. Worthless securities can include stocks or bonds that are either publicly traded or privately held.

Ala. Admin. Code r. 892-2-1-.03

Adopted by Alabama Administrative Monthly Volume XXXIII, Issue No. 04, January 30, 2015, eff. 2/3/2015.

Author: Ralph Ainsworth, Unclaimed Property Division, Office of State Treasurer

Statutory Authority:Code of Ala. 1975, § 35-12-20, et seq.