NOTICE – CHANGES TO HOLDER REPORTING REQUIREMENTS
CHANGE IN AGGREGATE reporting for all holders: The maximum value allowed to be reported in an aggregate total is now under $10.00 (changed from $50.00). Complete owner detail is required on all amounts valued at $10.00 and above.
For holders reporting Individual Retirement Accounts (IRAs): On January 1, 2020, the Internal Revenue Service’s Revenue Ruling 2018-17 went into effect concerning withholding and reporting taxes with respect to payments from IRAs. Please see the link below for guidance from the National Association of Unclaimed Property Administrators (NAUPA).
Electronic reports are required. Holders are required to submit an electronic report and upload it through the secure portal on our website. DO NOT send report detail on paper.
For financial institutions reporting safe deposit box contents: Effective July 1, 2019, the Louisiana Unclaimed Property Act provides for the presumption of abandonment and transfer to the Unclaimed Property Division, "Military medals and all associated documents held in a safe deposit box or other safekeeping depository in this state". Please see Louisiana Revised Statutes, Title 9, Section 155.