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Updated Information Available On Wisconsin Escheatment in 2018

Nearly 70% of financial institutions are not fully compliant with Unclaimed Property laws—audits have increased dramatically and financial institutions are at a greater risk of fines and penalties.

Banking assets are the number one remitted property type in most states. Not only does this deplete the assets under your management, ever-changing unclaimed property laws also leave banks and credit unions at risk of non-compliance, which can result in significant fines and penalties.

With PAR/WACHA by your side, we can help you retain assets and reduce your risk of non-compliance. Below is updated information for escheatment in Wisconsin. Additionally, PAR/WACHA partners with Georgeson to bring escheatment solutions to your bank or credit union at competitive pricing.

Escheatment for the State of Wisconsin in 2018

Banking Properties: AC01, AC02, AC03, SD01 and CK01, all 5 year dormancy

Due Diligence Requirements: $50.00 or more, and mailed no more than 120 days prior to 11/1. Mail to “good” addresses only.

Cut-off date: June 30, 2018
Due date: November 1, 2018
Safe deposit contents: by December 1, 2018
(complete safe deposit form UCP-120)

Electronic reporting: All holders must file electronically.

Contact in Wisconsin: Wisconsin is one of the few remaining states that considers the non-return of statements as activity.

Reciprocal reporting: Wisconsin prefers you report property to the state of the owner’s last known address. They will accept incidental property (less than ten accounts) for all states, but you must get approval from Wisconsin for most states. You must also abide by the other states’ dormancy, due diligence and property type codes.

Negative reporting: Wisconsin requires banks and credit unions to file negative reports even if no unclaimed property is reported.

 Click here for a printable version of "Wisconsin 2018 Escheatment ."

 More information on Unclaimed Property and Escheatment is available here.

Contact PAR/WACHA for More Information on
Unclaimed Property & Escheatment

Phone: (262) 345-1245
Toll Free: (800) 453-1843
Emailcompliance@wacha.org 

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