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Are any types of accounts exempt from unclaimed funds reporting requirements?

April 26, 2017accounts exempt funds requirements types unclaimed

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Are any types of accounts exempt from unclaimed funds reporting requirements?

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A. Yes, there are three (3) types of accounts that are exempt from the unclaimed funds reporting in Ohio. They are • Wages less than $50.00 issued on or after July 1, 2000. • Gift Certificates • Business to Business Transactions which are limited to funds paid or received as the result of the company’s receipt or issuance of an invoice. See page 2 of the Annual Report of Unclaimed Funds Forms, Instructions and Information booklet for a more information about accounts that are exempt from Ohio’s unclaimed funds reporting requirements. Top of Page Q. What are Ohio’s unclaimed funds reporting deadlines? A. The State’s annual unclaimed funds reporting deadline for all companies, with the exception of Life Insurance companies, is November 1. The reporting deadline for Life Insurance companies is May 1.