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 NOS.:RULE TITLES:
69I-20.038Late Annual Report(s), Late Payment(s), and Late Delivery of Abandoned Property
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, as amended by the Notice of Change published in the Vol. 42, No. 42, March 2, 2016 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. 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 purposes of this subsection, “good cause” means:
(a) through (d) No change.
(e) Corporate actions such as mergers, acquisitions, bankruptcy, etc.;
(f) System conversions, updates/changes in reporting software; or
(g) Change in third party administrator.
The following changes were made to the Florida Bureau of Unclaimed Property Reporting Instructions Manual:
On Page 4, the term “online application” was changed to specific website address.
On Page 6, full citations to the two U.S. Supreme Court cases were added.
On Page 9, Section 1.3, the following sentence was added before the last sentence: If the holder lacks access to the Internet at the holder’s place of business, the holder must state so in writing to the Department. The Department shall review the facts and circumstances in the written request, on a case-by-case basis, and if the Department finds that the holder lacks the means to submit a report through the Department’s Holder Reporting Online System, the Department shall prescribe an alternative medium to file the unclaimed property report.
On Page 9, Section 1.3.1, a specific website address was added before the last sentence in the first paragraph of this section.
On Page 10, Section 1.3.2, a specific website address was added at the end of the first sentence in the first paragraph of this section.
On Page 18, the statutory citations in rows 5 and 7 on the chart were corrected.
On Page 25, Section 2.2.4, the misspelling of the word “file” was corrected.
On Page 25, Section 2.2.4, subparagraph 69I-20.034(2)(a)1. was amended to read: 1. The holder is filing a complete and accurate report with another state that has adopted the current National Association of Unclaimed Property Administrators (NAUPA) Reciprocity/Exchange guidelines;
On Page 25, Section 2.2.4, subparagraph 69I-20.034(2)(a)4. was added to read: 4. The holder lacks access to the Internet at the holder’s place of business as demonstrated in a writing submitted to the Department, and the Department subsequently prescribes an alternative medium to file the unclaimed property report for the report year.
On Page 15, Section 2.3, the paragraph was amended to incorporate the changes that were made to subsection 69I-20.038(3) set forth above.
