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Step 3: Prepare Your Report

After you have completed steps 1 and 2, it's time to prepare your report.

First:  Start with the Unclaimed Property Verification Report (ASD-159)


 

All holders are required to complete and submit an Unclaimed Property Verification Report (ASD-159)​ or Unclaimed Property Verification Report for Tangible Property (ASD-159T).

An ASD-159 must be completed and submitted with any remitted report (cash, securities, or tangible property.)  An unsigned ASD-159 may not be processed and will be returned to the holder for correction.

Second:  Select Your Accompanying Form Based on the Type of Property You Are Reporting

If you are reporting
CASH​
​If you are reporting
SECURITIES
If you are reporting
TANGIBLE PROPERTY
​You will need to file a 
 
"Cash" consists of wages, bank accounts, refunds, utility deposits, insurance proceeds, and other cash properties.
​Please see
 
Securities can be stocks, bonds, mutual funds, or other investment instruments.
You will need to file a 
 
Tangible property usually consists of contents of safe deposit boxes.

Third:  Determine Your Reporting Period and Report Due Date

If you are a
BUSINESS OR ORGANIZATION​
​If you are a
GOVERNMENT ORGANIZATION
If you are a
LIFE INSURANCE COMPANY
​Your reporting period is:
July 1 - June 30

 
Your report due date is:
November 1
​Your reporting period is:
July 1 - June 30

 
Your report due date is:
November 1
 
Your reporting period is:
January 1 - December 31

 
Your report due date is:
May 1
 

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 Holder Reporting Four-Step Process

 
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 Electronic Reporting

 
The following free reporting resources are available to help you report electronically:​

HRS Pro
Free software to prepare an unclaimed property report in the required format
UPExpress
Free online report submission service

Fourth:  Determine Your Reporting Format  


Depending on the number of properties you are reporting, you may be required to prepare your report in an electronic format. Using the following guidelines, determine the reporting format you will use.

 

50 or More Properties

 

Electronic Reports

If you are reporting 50 or more properties, you are required to prepare your report in the NC Electronic File Format (modified NAUPA format).  Electronic reports are encouraged for holders reporting less than 50 property owner records.

  • Holders may prepare reports in the required format using various holder reporting software. For holders reporting 200 properties or less per state, HRS Pro is a free reporting software program they may use. 
  • Most holder reporting software will produce an ASD-159 (Unclaimed Property Verification) equivalent. Please confirm that this document contains a verification and certification which states the holder has complied with N.C.G.S § 116B-59.
  • Reports containing 50 or more property owners that are not prepared in the specified format may be rejected and returned to the holder.

NOTE:  Holders reporting tangible property must report in paper format, utilizing an ASD-127 and an ASD-159T.

 

Less than 50 Properties

 

Paper Reports

If you are reporting less than 50 property owner records, you may prepare your report in paper format or electronic format which is encouraged.  

A signed ASD-159, in addition to a completed ASD-21 is required for reporting cash. Any limiting notations or endorsements, written or stamped on attached payment documents - to include any similar limiting language contained in an accompanying correspondence - cannot be reviewed and will not be honored.​

An ASD-159T (Unclaimed Property Verification Report) and ASD-127 are required for all reports of tangible property.  Any limiting notations or endorsements, written or stamped on attached payment documents - to include any similar limiting language contained in an accompanying correspondence - cannot be reviewed and will not be honored.​

 Reporting Tips

 

  • PROPERLY COMPLETED FIELDS: When preparing your report, ensure that the proper NAUPA Class Code and Owner Relationship Code fields are properly completed to assist in returning property to the rightful owner. 
  • PROPERTY REPORTED IN AGGREGATE:  Holders are encouraged to report all properties individually, regardless of the amount, to assist in returning all property amounts to the rightful owner.  Please scroll down to the instruction portion of our ASD-21 for additional detail pertaining to aggregate reporting.

No Records to Report?

Holders that do not have anything to report are not required to file a “negative” report.  If you elect to file a negative report, an ASD-NEG​ (Negative Report of Unclaimed Property) must be completed.

Need Extra Time?

Extensions may be granted for good cause, according to N.C.G.S. § 116B-60(e). 

  • Indicate Name and Tax ID for each Holder (entity) requesting an extension
  • Indicate specific time needed to submit report (no more than 90 days)
  • State why more time is needed
  • An estimated payment should be submitted for each Holder requesting an extension.
  • Request should be submitted by October 1

Fifth:  Prepare Your Report

Once you have determined the property format (electronic or paper), gathered any required forms, determined due dates, and gather the required property and owner information, you are ready to prepare your report. 

Step 3 Checklist

To complete Step 3, you should have completed the following:

  • Determined your reporting period and due date for filing
  • Completed an Unclaimed Property Verification page (ASD-159, ASD-159T or electronic equivalent)
  • Completed any necessary accompanying paper forms (ASD-21, ASD-127) OR generate an electronic file in the modified NAUPA file format.

If you have finalized this checklist, you are ready to move to Step 4​.