Unclaimed Property Report

(1) The Act requires the annual filing of the Unclaimed Property Report for all unclaimed property. The report must be submitted electronically through the “Report It TN,” the Tennessee Unclaimed Property online reporting portal, in the required National Association of Unclaimed Property Administrators format. No paper reports are accepted. More information can be found on the State Treasurer’s Office website. (2) The University Controller’s Office should compile the list of all cash items (i.e., uncashed checks, unidentified remittances, credit balances in accounts receivable, stored value cards) for the entire University and report it to the State Treasurer’s Office. Reports must be filed with the State Treasurer on or before November 1 of each year and must include property presumed abandoned held as of June 30 of the appropriate reporting year. The State Treasurer may grant one thirty (30) day extension provided a written request is received on or before November 1. (3) The University must retain supporting records relating to the reports for ten (10) years after the later of the date each report was filed or the last date a timely report was due to be filed, unless a shorter period is prescribed by the State Treasurer. Authority: T.C.A. § 49-9-209(e) and Public Acts of Tennessee, 1839-1840, Chapter 98, Section 5, and Public Acts of Tennessee, 1807, Chapter 64. Administrative History: Original rules filed September 30, 2019; effective December 29, 2019. 1720 -01-14-.07 TIMETABLE FOR UNCLAIMED PROPERTY. The following timetable describes the year’s schedule for reporting unclaimed property. June 30 End of reporting year. July 1 – August 31 UNCLAIMED PROPERTY CHAPTER 1720-01-14 Controller’s Office and campus or institute business offices (stored value cards and credit balances in accounts receivable) perform required due diligence on appropriate items considered abandoned. October 1 Deadline for campus or institute business offices to transmit excel file of abandoned property to the Controller’s Office (stored value card and credit balances in accounts receivable). November 1 Reports, verification forms and unclaimed property (cash) are due in the State Treasurer’s Office. Note: The University will require proper proof of ownership when individuals claim property items. The Controller’s Office and campus or institute business offices have developed procedures for handling claims.