Report Unclaimed Property

Laws and Statutes

By law, businesses in Tennessee holding unclaimed property are required to report it each year by the reporting deadlines.

Recent unclaimed property law changes

Tennessee's 110th General Assembly passed two important pieces of legislation that allow for even greater efficiency in reporting and returning unclaimed property to Tennesseans, Public Chapter 822 and the Tennessee Uniform Unclaimed Property Act. The most notable changes that affect our reporting process are below:

Law changes brought about by recent legislation

In this 25 minute instructional video, Unclaimed Property Director John Gabriel explains how the recent Unclaimed Property law changes, designed to increase ease and efficiency for all, will impact the reporting process.

Change #1: Public Chapter 822

Beginning in 2019, annual reporting of unclaimed property by Tennessee businesses will occur on November 1st.

The first November 1st date will be a transitional date to include 18 months of reporting (January 1, 2018–June 30, 2019). Going forward, it will cover the preceding fiscal year.

person presenting a contract agreement

law building columns

Change #2: Tennessee Uniform Unclaimed Property Act

This legislation includes the following changes:

  • New, complicated property types
  • Dormancy period
  • Activity
  • Due diligence
  • Reporting and payment requirements

These changes are described in more detail below.

New, complicated property types

The legislation specifically addresses new, complicated property types that should be reported, such as:

  • Retirement accounts
  • Other tax deferral accounts
  • Insurance
  • Store valued cards/gift cards
  • Wages/payroll cards

female checking gift card balance on laptop at home

calendar on laptop, next to accounting folders

Dormancy period

The default dormancy period for unclaimed property has been changed from 5 years to 3 years.

Property that does not have a specified dormancy period must now be reported 3 years after being "unclaimed".

Activity

The legislation provides more helpful guidelines that define what constitutes activity on an account.

Activity on an account occurs when the apparent owner indicates an interest in the property during the dormancy period

female working on laptop, virtual financial charts appearing

father and daughter checking mailbox

Due diligence

The legislation provides specific guidelines on due diligence for the holder of the property.

Holders of the property presumed abandoned shall send a notice to the owner:

  • For all property with a value of $50 or more
  • By first-class mail 60–180 days before filing the report
  • With the notice containing specific language that identifies the property and owners; provides instructions for the owner to collect the property from the holder; and informs the owner that if not claimed, the property will be turned over to the state treasurer for them to claim
  • Providing for an electronic mail notice

Reporting and payment requirements

Holder reports and payment must be made by electronic means.

The Tennessee Unclaimed Property Division has implemented ReportItTN in which the holder can upload files and make payments.

Important: Holder reports and payment not received through ReportItTN will be rejected.

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Unclaimed property laws and regulations

Complete reporting guide

The Complete Reporting Guide (Uniform Disposition of Unclaimed Property Act Reporting Forms and Instructions) contains reporting forms, instructions, statutes, and rules.

Download the Complete Reporting Guide

Statutes and regulations

The Complete Reporting Guide (Uniform Disposition of Unclaimed Property Act Reporting Forms and Instructions) contains reporting forms, instructions, statutes, and rules.

Rules and Regulations
Regulations Governing the Uniform Disposition of Unclaimed Property Act

Statute—Select Tennessee, Title 66, Chapter 29
Located on the searchable Tennessee Code Unannotated website

Consumer Protection Act of 1977, TCA Section 47-18-127
Covering gift certificates and prepaid cards

Banks and Financial Institutions, TCA Section 45-2-907
Covering special remedies for nonpayment of rent, Inventory and report to the state treasurer, disposition and sale of property, and others

Report Unclaimed Property

Process at a Glance

Laws and Statutes

Submit Your Report Online

Ensuring Compliance

Forms and Guides

Contact Us

Have questions about reporting unclaimed property? We're here to help!

Unclaimed Property Division—Reporting

(615) 253.5362

ucp.holders@tn.gov

Mailing Address

Unclaimed Property Division
P.O. Box 198649

Nashville, TN  37219-8649