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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
 

​​​
 

 Holder Reporting Four-Step Process

 
 

 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 file electronically.  Using the following guidelines, determine the reporting format you will use.
50 or More Properties

  
Reporting Electronically

If you are reporting 50 or more properties, you are required to report in the NC Electronic File Format (modified NAUPA format.)

  • Holders may prepare reports in the required format using HRS Pro​ by Conduent, which is a free electronic reporting program.
  • Reports containing 50 or more property owners that are not 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.

Submitting Your Report Electronically

Holders who wish to submit their reports electronically may do so using UPExpress.  These electronic file submissions are free.  Holders only need to submit a copy of the UPExpress Unclaimed Property Verification page along with a check or copy of wire/ACH transmittal.

NOTE:  If reporting cash electronically, you are not required to submit an ASD-21.

Submitting Your Report in Paper Format

All holders that have 50 or more owners to report are required to report in the NC Electronic File Format (modified NAUPA format.)  Holders may submit their reports electronically using UPExpress.  However, holders electing not to submit their report electronically using UPExpress must mail the following:

 

  • A CD or USB flash drive containing the electronic report
  • ASD-159 (Unclaimed Property Verification), or its equivalent, submitted in paper format
  • A PDF file or paper copy of the owner detail to assist with the loading and balancing of holder reports

 

Less than 50 Properties

If you are reporting less than 50 property owner records, you have the option of preparing and submitting an electronic report or you may submit manual reporting forms (ASD-21, etc.). These forms are available at www.NCCash.com/Reporting or may be obtained by contacting our office.

An ASD-159 (Unclaimed Property Verification Report) in addition to an ASD-21 (Report of Unclaimed Property) must be completed for reporting cash.

An ASD-159 (Unclaimed Property Verification Report) must be completed and submitted with any remitted report (cash or securities.)  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.​

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 to File an Extension?

Extensions may be granted for good cause, according to NCGS 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 before the date the report is required to be filed

Fifth:  Complete All Required Forms

Once you have gathered the proper forms, due dates, and information, you are ready to complete the forms and prepare your reports.  Fill out all required forms and information as indicated in Step 3 as well as through your determined reporting format. 

Step 3 Checklist

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

  • Completed an ASD-159 (Unclaimed Property Verification Report)
  • Determined your reporting period and due date for filing
  • Completed all required forms and electronic information, based on your determined reporting format 

If you have completed all parts to this step, you are ready to move to Step 4​.