Thank you, business leaders, for continuing to report unclaimed property to our office. It is because of you that we’ve been able to return $1 billion to Ohioans. We know there is more money out there waiting to be claimed, and we want to reunite those funds with their rightful owners.
That is why we are asking you to report all unclaimed funds to the Ohio Department of Commerce, Division of Unclaimed Funds by Nov. 1. Adhering to this deadline increases the chances that our office can locate the fund owners.
Division Superintendent Akil Hardy prepared the below guidance to help you with the reporting process.
- Chapter 169 of the Ohio Revised Code requires all businesses operating in the state of Ohio, or holding funds due to Ohio residents, to file an Annual Report of Unclaimed Funds with the Division.
- The Nov. 1, 2020 filing deadline is for accounts dormant as of June 30, 2020.
- Life insurance companies have until May 1, 2021 to file a report.
- Political subdivisions and IRC 501(C)(3) hospitals are exempt from filing.
- Businesses not holding any unclaimed funds must file a Negative (NONE) Report. We encourage you to file the report through Ohio Business Gateway.
- CPAs or attorneys who are in private practice are required to file an Annual Report of Unclaimed Funds.
- CPAs and attorneys not in private practice do not have to file an unclaimed funds report separate from the firms for which they work.
All businesses should file their Annual Report of Unclaimed Funds (including Negative Reports) through the Ohio Business Gateway at business.ohio.gov. If you have questions, please visit https://www.com.ohio.gov/unfd/ or call at 614-466-4433.
If you have concerns about meeting the deadline, you may request an automatic extension here.
A copy of the Annual Report of Unclaimed Funds can be downloaded here.
Links to the individual forms are below: