Important Information for Holder Reporting

Due Dates and Interest

Holder reports are due on November 2, 2015. If you received an extension to file your holder report, the due date is January 4, 2016. Interest and penalties will be assessed for property paid or reports filed after the applicable due date. Please file timely this year.

Due Diligence

Holders are required to attempt to locate the owners of unclaimed property identified as abandoned, if the value of the property is $50 or more. Letters can be sent to the owners of the property via first class mail. Letters must be sent no later than September 2, 2015.

New Matching Program

The Wisconsin Department of Revenue (DOR) has launched a new program that matches unclaimed property owner information against the agency's tax records. If there is a match between an individual and an unclaimed property owner, DOR will automatically issue a check if the property is less than $2,000. If the property is more than $2,000, the property owner will receive a notice with instructions on how to file a claim for the property. DOR will return $13.6 million to 97,000 owners.

Holders can facilitate the matching process by ensuring that the property owner information is as complete and accurate as possible when holder reports are submitted to DOR. Please include the owner's Social Security number, date of birth and last known address, if the information is known.

Options for Submitting Holder Reports and Payments

Holder reports may be submitted in several ways. The department's My Tax Account is a free alternative for reporting. There are three options for filing reports using My Tax Account:

  1. Attach a standard NAUPA Report File generated by UPExchange or HRS Pro Software
  2. Import a spreadsheet using the template provided on the department's website
  3. Manually enter a holder report, including negative reports, directly in My Tax Account

DOR will be providing a free webinar this fall on how to use My Tax Account to submit holder reports. Times, dates and registration information will be provided by September 1.

Holders using UPExchange may also file their reports online using UPExchange software.

Holder reports that are submitted to the department in some other format will not be processed. Any reports sent via email or CD will be rejected AND the holder will be notified to submit the report electronically.

Holder report payments may be made via ACH Credit or ACH Debit. For instructions, please see the Holder Report Guide.

More information on reporting unclaimed property to Wisconsin is available under "Options for Holder Reporting" on the department's website. This page includes links to My Tax Account. If you have questions, please call (608) 264-4594 or email: DORWIHolderReports@wisconsin.gov.

July 29, 2015