|
|
|
 |
Reporting
Information for Businesses
The
report period ending date for all 
businesses with
reportable property is June 30 of
each
year. All accounts,
including cash accounts,
accounts receivable (credit balances), refund accounts,
security deposit accounts, and stock and bond accounts should
be reviewed for inactivity.
|
Prepare and mail due diligence
letters to owners having unclaimed property valued
at more than $50 if you are incorporated in Idaho and the last
known address of the owner was in Idaho. If you
know that the address in your records is wrong, you do
not need to send a due diligence letter. However,
the bad address information must be maintained in the
holder's records. Letters must be sent within 120 days before
filing the unclaimed property report.
|
If
unclaimed property responsibilities are not centralized,
gather information from each department that will be included
in the final report.
|
| Deadline
for report and remittance is Nov. 1. Make sure your check
is attached to the report. Penalty and interest may be applied
to late reports
that are not postmarked by Nov. 1. |
Extensions
If you can’t
meet the Nov. 1 deadline, you may apply for an extension.
Requests for an extension must be in writing and should be
directed to the Unclaimed Property Administrator, at
the address below. Extension requests must be
postmarked
by Oct. 1.
A separate
extension request should be applied for each Employer
Identification Number (EIN). Extensions will not be
granted for two years in a row. Reports and
remittances that are filed with an extension must include
interest from the original due date at the rate of 12% per
year. Reports filed with an extension that are received
after the extension date may be subject to a penalty from the original due date of the report.
Need Help?
If you have any
questions about preparing your unclaimed property report,
please contact us. You may contact us by any of the following
methods:
| E-mail: |
holdersreport@tax.idaho.gov |
| Phone: |
(208) 334-7623 Boise
(800) 972-7660,
ext. 7623 Toll Free |
| Mail: |
Idaho
State Tax Commission
Unclaimed Property Program
800 Park Blvd, Plaza IV
PO Box 70012
Boise, ID 83707-0112 |
|
Fax: |
(208) 334-5366 |
|
|
|
