§ 33-21.1-17. Report of abandoned property. (a) A person holding property tangible or intangible, presumed abandoned and subject to custody as unclaimed property under this chapter, shall report to the administrator concerning the property as provided in this section.

(b) The report must be verified and must include:

(1) Except with respect to travelers checks and money orders, the name, if known, and last-known address, if any, of each person appearing from the records of the holder to be the owner of property of the value of fifty ($50.00) dollars or more presumed abandoned under this chapter;

(2) In the case of unclaimed funds of fifty dollars ($50.00) or more held or owing under any life or endowment insurance policy or annuity contract, the full name and last known address of the insured or annuitant and of the beneficiary according to the records of the insurance company holding or owing the funds;

(3) In the case of the contents of a safe deposit box or other safekeeping repository or of other tangible property, a description of the property and the place where it is held and may be inspected by the administrator and any amounts owing to the holder;

(4) The nature and identifying number, if any, or description of the property and the amount appearing from the records to be due, but items of value under fifty dollars ($50.00) each shall be reported in the aggregate;

(5) The date the property became payable, demandable, or returnable, and the date of the last transaction with the apparent owner with respect to the property; and

(6) Other information the administrator prescribes by rule as necessary for the administration of this chapter.

(c) If the person holding property presumed abandoned and subject to custody as unclaimed property is a successor to other persons who previously held the property for the apparent owner or the holder has changed his or her name while holding the property, he or she shall file with his or her report all known names and addresses of each previous holder of the property.

(d) The report must be filed before November 1 of each year as of June 30, next preceding, and the report of any life insurance company, including the report of unclaimed insurance company demutualization proceeds made pursuant to § 33-21.1-16.1, must be filed before November 1 of each year as of June 30 next preceding. On written request by any person required to file a report, the administrator may postpone the reporting date.

(e) Not more than one hundred and twenty (120) days before filing the report required by this section, the holder in possession of property presumed abandoned and subject to custody as unclaimed property under this chapter shall send written notice to the apparent owner at his or her last known address informing him or her that the holder is in possession of property subject to this chapter if:

(1) The holder has in its records an address for the apparent owner which the holder's records do not disclose to be inaccurate;

(2) The claim of the apparent owner is not barred by the statute of limitations; and

(3) The property has a value of fifty dollars ($50.00) or more.

(f) Notwithstanding any other law to the contrary, the administrator may provide information in the form of a social security number or taxpayer identification number to the department of taxation and department of labor and training for the sole purpose of obtaining the name and current address of rightful property owner(s) to implement § 33-21.1-24. The information obtained and/or provided shall be kept confidential and the administrator shall be subject to the same confidentiality laws that apply to the state departments providing the information.

History of Section. (P.L. 1986, ch. 500, § 3; P.L. 1987, ch. 36, § 1; P.L. 2003, ch. 376, art. 33, § 2; P.L. 2004, ch. 57, § 1; P.L. 2004, ch. 129, § 1; P.L. 2017, ch. 189, § 2; P.L. 2017, ch. 319, § 2.)