Late Annual Report(s), Late Payment(s), and Late Delivery of Abandoned Property, Unclaimed Property Reporting Instructions.
DEPARTMENT OF FINANCIAL SERVICES
Division of Accounting and Auditing
RULE NO.: RULE TITLE:
69I-20.038: Late Annual Report(s), Late Payment(s), and Late Delivery of Abandoned Property
69I-20.041: Unclaimed Property Reporting Instructions.
NOTICE OF CHANGE
Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 41 No. 236, December 8, 2015 issue of the Florida Administrative Register.
69I-20.038 Late Annual Report(s), Late Payment(s), and Late Delivery of Unclaimed Property.
(1) through (2) No change.
(3) A written request for an extension of time to file an unclaimed property report for the prior calendar year must be postmarked or filed with the Department by April 30th of the subsequent calendar year. A written request that is not timely postmarked or filed shall be denied. If the written request, is timely postmarked or filed, The Department shall review the facts and circumstances of each timely postmarked or filed written request on a case-by-case basis and, if the Department finds that the requestor has shown that good cause exists to grant an extension, the Department shall postpone the reporting date or extend the property delivery date for a period of up to sixty (60) days. for, but not limited to, the following reasons: For purposes of this subsection, “good cause” means:
(a) through (d) No change.
(4) A Upon written request, for a waiver of applicable penalties must be filed with the Department. The Department shall review the facts and circumstances of each filed written request on a case-by-case basis. A finding by the Department that good cause exists shall constitute appropriate justification to waive applicable penalties. For purposes of this subsection, “good cause” means: shall waive penalties for, but not limited to, the following reasons:
(a) Natural disasters;
(b) Acts of war or terrorism;
(c) Initial report filed by the holder or its subsidiaries which was not induced by an examination from the Department or agents;
(d) Penalty amount in excess of the reported amount; or
(e) Penalty assessed in error; or.
(f) System conversions, updates/changes in reporting software.
(5) through (6) No change.
Rulemaking Authority 717.119(5), 717.138 FS. Law Implemented 717.117, 717.119, 717.134 FS. History–New 6-23-91, Amended 8-29-94, 1-28-97, Formerly 3D-20.038, Amended __________.
69I-20.041 Unclaimed Property Reporting Instructions.
The Department’s mission is to collect and return unclaimed property to its rightful owners in accordance with the Florida Disposition of Unclaimed Property Act, Chapter 717, F.S. To achieve these results, the Department is encouraging holders inside and outside the State of Florida that are in possession of unclaimed property to comply with Florida’s unclaimed property law. When reporting and remitting unclaimed property to the Department, holders must follow the procedures in Form DFS-A4-1992, Florida Bureau of Unclaimed Property Reporting Instructions Manual, revised 7-1-15, which is hereby incorporated by reference and available from the Florida Department of Financial Services, Bureau of Unclaimed Property’s website.
Rulemaking Authority 717.117(1), 717.138 FS. Law Implemented 717.101, 717.102, 717.103, 717.1035, 717.104, 717.1045, 717.105, 717.106, 717.107, 717.1071, 717.108, 717.109, 717.1101, 717.111, 717.112, 717.1125, 717.113, 717.115, 717.116, 717.117, 717.119, 717.129, 717.1311, 717.134, 717.138 FS. History–New 5-3-10, Amended __________.
