INBiz now offers a simple submission process that allows businesses and organizations to easily comply with state law by filing unclaimed property reports online.
After holding unclaimed property for an extended period of time, businesses and government agencies are required to turn over the assets to the Indiana Attorney General’s Unclaimed Property division whenever the property owner can’t be found.
Nonprofit, governmental agencies and business associations, including corporations, partnerships and more, are required to file annual reports of unclaimed property.
Businesses and organizations that have no unclaimed property to report are encouraged to submit “Negative” — or “Zero” — annual reports reflecting that they aren’t holding any eligible assets. Although such reports are not required by law, the process creates a record and compels businesses to review files annually, ensuring that no assets are overlooked and unreported.
Indiana has annual filing dates for which holders are expected to comply. Indiana has a November 1 annual reporting deadline. The one exception in Indiana is for life insurance companies, which must report on May 1.