What is the 5% administrative fee?
A. In 1991, the Ohio State Legislature amended Ohio Revised Code (ORC) section 169.08 and implemented a 5% administrative fee to be assessed to each claimed account. The Division of Unclaimed Funds is a self-supporting agency and the 5% fee helps to offset the expense of the Division. If you are represented by a paid professional finder, that finder may charge an additional fee of up to 10% of the account.
Related Questions
- Other than the startup costs, annual administrative fee, and supplying pictures, are there any other obligations or required activities on the fund administrator’s part?
- Why is Qatar Cool charging QAR 10 administrative fee, when it is Qatar Cools obligation to send us monthly cooling bill?
- If I am just moving from one Idylwood Towers unit to another, do I need to pay the administrative fee?
