Alaska Escheat and Unclaimed Property Laws
| State | Reporting Period | Deadline | Due Diligence | Negative Report | Voluntary Disclosure Agreement | Reporting Method | Remittance Method | More Information |
|---|---|---|---|---|---|---|---|---|
| Alaska | July 1 to June 30 | Before November 1 | $100 minimum, written notice to last known address at least 120 days before filing report | Not Required | Not Available | Electronic only, NAUPA II format, file extension: .txt, .hrs, or .rpt submitted through online portal | Funds: ACH or Wire Securities: DTC, DRS or DWAC | Alaska Unclaimed Property |
The Alaska Statutes 34.45 are the current laws that govern unclaimed property in the state of Alaska and are accompanied by the Alaska Holder Reporting Handbook. Alaska has not yet enacted the 2016 Revised Uniform Unclaimed Property Act (RUUPA).
Alaska Unclaimed Property Reporting Period
The annual reporting period for unclaimed property in Alaska is July 1st – June 30th.
Alaska Unclaimed Property Due Diligence Requirements
Holders of unclaimed property must perform due diligence to show that they attempted to find the rightful owner of unclaimed property. For any balance greater than $100, written notice must be sent to the owners last known address within 120 days of the unclaimed property report filing. Keep records to prove that due diligence was completed including whether mail was returned as undeliverable.
Alaska Unclaimed Property Reporting and Remittance Deadline
Annual reports and remittances are due before November 1.
Alaska Unclaimed Property Reporting Format
Only electronic reports are accepted in the NAUPA II file format. File formats accepted are .txt, .hrs and .rpt. These formats can be generated through the HRS Pro software. The HRS Pro software has a limited free version that has restrictions including one user, one company and less than 100 properties per state report.
Alaska Unclaimed Property Reporting and Remittance Method
Reports can be submitted through the online portal. Funds can be transferred through Automated Clearing House (ACH) or wire transfer. Securities can be transferred through Depository Trust Company (DTC), Direct Registration System (DRS) or Deposit / Withdrawal At Custodian (DWAC).
Alaska Unclaimed Property Negative Reports
Negative reports refer to reports that need to be filed when there is no unclaimed property to report or remit to the state for the year. Alaska does not require negative reports.
Alaska Unclaimed Property Voluntary Disclosure Agreement (VDA)
In some states, the unclaimed property Voluntary Disclosure Agreement (VDA) provides the opportunity for holders of unclaimed property to voluntarily report and remit past unclaimed property. If accepted by the state, the holder is then exempt from fines and penalties that cover the VDA period. The holder is expected to maintain strict compliance with state unclaimed property laws after the VDA period. VDAs are usually available on a one-time basis only to holders that are not already under state audit. Alaska does not currently have a VDA program.
Alaska Unclaimed Property Dormancy Periods
| Property Type | Dormancy Period (Years) |
|---|---|
| Account Balances | |
| Checking Accounts | 5 |
| Savings Accounts | 5 |
| Matured CD or Savings Certificate | 5 |
| Money on Deposit to Secure Fund | 3 |
| Security Deposits | 3 |
| Unidentified Deposits | 3 |
| Educational Savings Accounts - Cash | 5 |
| Educational Savings Accounts - Mutual Funds | 5 |
| Educational Savings Accounts - Securities | 5 |
| Uncashed Checks | |
| Cashier's Checks | 5 |
| Certified Checks | 5 |
| Registered Checks | 5 |
| Treasurer's Checks | 5 |
| Drafts | 5 |
| Warrants | 5 |
| Money Orders | 5 |
| Traveler's Checks | 15 |
| Foreign Exchange Checks | 5 |
| Expense Checks | 3 |
| Pension Checks | 3 |
| Credit Checks or Memos | 3 |
| Vendor Checks (Govt. 1 Year) | 3 |
| Checks Written Off to Income | 3 |
| Other Outstanding Official Checks | 5 |
| CD Interest Checks | 5 |
| Mineral Proceeds and Interest | |
| Net Revenue Interest | 3 |
| Royalties | 3 |
| Overriding Royalties | 3 |
| Production Payments | 3 |
| Working Interest Under Aggregate | 3 |
| Bonuses | 3 |
| Delay Rentals | 3 |
| Shut-in Royalties | 3 |
| Minimum Royalties | 3 |
| Miscellaneous | |
| Wages, Payroll, Salary | 1 |
| Commissions | 3 |
| Worker's Compensation Benefits | 3 |
| Payment for Goods and Services | 3 |
| Customer Overpayments | 3 |
| Unidentified Remittances | 3 |
| Unrefunded Overcharges | 3 |
| Accounts Payable | 3 |
| Credit Balances - Accts. Rec | 3 |
| Discounts Due | 3 |
| Refunds Due | 3 |
| Unredeemed Gift Certificates | 3 |
| Unclaimed Loan Collateral | 3 |
| Pension and Profit Share Plans | 3 |
| Dissolution and Liquidation | 1 |
| Misc. Outstanding Checks | 3 |
| Misc. Intangible Property | 3 |
| Suspense Liabilities | 3 |
| Health Accounts | |
| Health Savings Accounts | 3 |
| Health Savings Account Investment | 3 |
| Safe Deposit Boxes, Safekeeping | |
| Safe Deposit Box Contents | 1 |
| Other Safekeeping | 1 |
| Other Tangible Property | 1 |
| Court | |
| Escrow Funds - Court related | 1 |
| Condemnation Awards | 1 |
| Missing Heirs | 1 |
| Suspense Accounts - Court or Govt related | 1 |
| Other Court Deposits or Refunds | 1 |
| Insurance | |
| Individual Policy Benefits or Claim Payments | 3 |
| Group Policy Benefits of Claim Payments | 3 |
| Proceeds Due Beneficiaries | 3 |
| Proceeds from Matured Polices, Endowments or Annuities | 3 |
| Premium Refunds | 3 |
| Unidentified Remittances | 3 |
| Other Amounts Due Under Policy Terms | 3 |
| Agent Credit Balances | 3 |
| IRA Accounts | |
| Traditional IRA - Cash | 3 |
| Traditional IRA - Mutual Funds | 3 |
| Traditional IRA - Securities | 3 |
| Roth IRA - Cash | 3 |
| Roth IRA - Mutual Funds | 3 |
| Roth IRA - Securities | 3 |
| Securities | |
| Dividends | 5 |
| Interest (e.g. Bond Coupons) | 5 |
| Principal Payments | 3 |
| Equity Payments | 3 |
| Profits | 3 |
| Funds Paid to Purchase Shares | 3 |
| Funds for Stocks & Bonds | 3 |
| Shares of Stock (Ret by PO) | 5 |
| Cash for Fractional Shares | 5 |
| Unexchanged Stock of Successor Corp | 5 |
| Other Certification of Ownership | 5 |
| Underlying Shares of Other Outstanding Certificates | 5 |
| Funds for Liquidation / Redemption of Unsurrendered Stocks or Bonds | 3 |
| Debentures | 5 |
| Government Securities/Municipal Bonds/Interest | 1 |
| Mutual Fund Shares | 5 |
| Warrants (Rights) | 3 |
| Matured Bond Principal – (Municipal Bond use SC15) | 5 |
| Dividend Reinvestment Plan | 5 |
| Credit Balances | 3 |
| Trustee and Escrow Accounts | |
| Paying Agent Accounts | 3 |
| Undelivered or Uncashed Dividends | 3 |
| Funds Held in Fiduciary Capacity | 3 |
| Escrow Accounts | 3 |
| Trust Vouchers | 3 |
| Utilities | |
| Utility Deposits | 1 |
| Membership Fees | 1 |
| Refunds or Rebates | 1 |
| Capital Credit Distributions | 1 |
| Properties Not Identified Above | |
| Housing and Urban Development | 1 |
| Properties Not Identified Above | 3 |
More information from the state of Alaska on unclaimed property reporting can be found here. Join our growing network of businesses that are using the Escheatify HolderExchange to prevent escheatment by reconciling their pre-escheat unclaimed property. Contact us to learn more.