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HomeMy WebLinkAboutUntitled c,..,..„:„..„,., 4.7,,,. ‘4_,,„,„,,,,,_ . -,,'-r '- C'7,:,- MINNESOTA DEPARTMENT OF COMMERCE ,` - :* Unclaimed Property Division *1 -, February 1,2000 _� n _- 4142 CITY OF OAK PARK HEIGHTS I i ' FEB — 40 ' 14168 57TH STN I '� ;' i 1)1 ATTN:JUDY HOLST _ STILLWATER,MN 55082 RE: 1999 Minnesota Unclaimed Property Report Dear Holder: Our records indicate that your organization has not filed its 1999 Minnesota Unclaimed Property Report. This report was due in this Office by November 1, 1999. Beside dividends and securities, organizations often report bank accounts,credit balances, uncashed vendor checks, uncashed gift certificates, uncashed or unclaimed wage checks. If you have not yet filed your report,please do so by March 1, 2000. Minnesota Rule 2885.0800 requires a report even if you are not holding unclaimed funds reportable to Minnesota. If after a thorough search of your records you find that have nothing to report which is still unclaimed and which was outstanding before July 1, 1997,please complete the certificate at the bottom of this letter and return it to the Unclaimed Property Division at the address given below. If our computer record is in error and you have already filed your report,please contact our Unclaimed Property Compliance Liaison and send a copy of the report. If you have questions,please do not hesitate to contact Glady Allrich,U.P. Compliance Liaison, at(651)296-4327. Sincerely iliZi:i7efr-------'--,.„ . Sandy Mack th - Director Unclaime Property Division I have examined the records of this organization and determined that all unclaimed property reportable to Minnesota and held by this organization has in fact been reported. I certify under penalty of perjury that the foregoing is true and correct - - Date: -f , /5 , 2000_ //-lal. ../...- , ge-t-t1 a-//-./: `-.4-( s• natu (title) iVeyzi . 133 East Sev th Str et, St. Paul, MN 55101-2333 Tel. (651) 296-2568 • Toll Free (800) 925-5668 Fax (651) 296-8591 • TTY/TDD (651) 296-2860 e-mail: unclaimedproperty@state.mn.us Web Site: www.commerce.statc.mn.us An Equal Opportunity Employer MINNESOTA DEPARTMENT OF COMMERC -§., I© E C] V 11;,-;;_ i I`', `' ,,, E,,,a��� UNCLAIMED PROPERTY SECTION B rf,; 133 E.7TH ST. • �� E •'••p, ST. PAUL, MINNESOTA 55101-2362 AUG 2 11998 � - � �NnIL UV • �, _''� (651)296-2568 USE TF� FORM WITH 1 OSI L REPORT 1 ;1 REPORT OF UNCLAIMED PROPERTY OFft-E-A NEGATIVE VERIFICATION AND CHECKLIST REPORT ,arzrrmn 98 1. Report Year 19 Minnesota (Federal Employers Identification No.) I.D.No. 4142 41-0941681 3.Holder (Name of Business) CITY OF OAK PARK HEIGHTS (Street Address) 14168 57TH STN ATTN;+.A ONNE Judy Holst WILSON (City) (State) (Zip) STILLWATER MN 55082 Contact Person for Report Information Contact Person for Owners Claiming Property 4.Contact Person -f*VONNE-WItsON- Judy Holst Telephone Number` Telephone Number 5.Telephone ( 812 439 449 Address Address 6.Address 14168 57T1-I ST N ATTN:-LIWONNE WItSONI Judy Holst STILLWATER,MN 55082 State of Organization Date of Organization 7.State and Date MN 03/01/00 of Organization Previous Name of Business 8.Previous Name Former Street Address • City State Zip Date of Change 9. Business Activity Please indicate which of the following best describes the primary business activity of your organization("X"one) ❑ Banking 0 Manufacturing 0 Wholesale 0 Brokerage Firm Co. 00 Holding Co.❑ Agriculture 0 Transportation 0 Retail 0 Life Insurance Mutual Fund 0 Resource Extraction 0 Services 0 Loan Co. 0 Non-Life Insurance Co. ® City ❑ Construction 0 Public Utility 0 Investment Co. 0 Public Authority 0 County 0 School District Did you file a report of Unclaimed Property last year? ® Yes 0 No If no,please explain: 10.Verification State/Pr vtrrae/Carn1 unweatth,Jistrctof Minnesota County/DtstrrcvParrsnrcny of Washington 1, Judy Holst ,being first duly sworn,on oath depose and state that I have caused to be prepared and have examined this report consisting of 0 pages totaling $0 ,Number of Shares,0 ,Number of SD BoxesO ,as to property presumed abandoned under the Minnesota Unclaimed Property Law for the year ending as stated:that I am duly authorized by the holder harnin to nvannfa thio rnnn.f, ...A a...r:...... ••...• _—:- ........—_. :_ a a ---. _ ___. . .. . . 11. Checklist Every person, including a corporation or other business association, banking or financial organization, life insurance corporation, utility, court or public authority, must complete the following checklist before filing its Minnesota Unclaimed Property Report. This checklist includes by way of illustration,but not of limitation,those items which are covered by sections of the Minnesota Unclaimed Property Law.The abondonment period for each type of item is listed after the item. Please complete the checklist by indicating with a check those items listed on the reporting form. PROPERTY TYPE CODES CODE DESCRIPTION CODE DESCRIPTION ACCOUNT BALANCES DUE _ACO1 Checking Accounts • (3) _AC06 Security Deposits (3) _ACO2 Savings Accounts (3) _AC07 Unidentified Deposits (3) _AC03 Matured CD or Say Cert (3) _AC08 Suspense Accounts (3) _AC04 Christmas Club Funos (3) _AC99 Aggregate Account Balances (3) _AC05 Money on Dep to Secure Fund (3) UNCASHED CHECKS _CK01 Cashier's Checks (3) _CK10 Expense Checks (3) _CK02 Certified Checks (3) _CK11 Pension Checks (3) _CK03 Registered Checks (3) _CK12 Credit Checks or Memos (3) _CK04 Treasurer's Checks (3) _CK13 Vendor Checks (3) _CK05 Drafts (3) _CK14 Checks Written Off to Income (3) _CK06 Warrants (3) _CK15 Other Outstanding Official Checks (3) _CK07 Money Orders (7) _CK16 CD Interest Checks (3) _CK08 Traveler's Checks (15) _CK99 Aggregate Uncashed Checks (3) _CK09 Foreign Exchange Checks (3) MINERAL PROCEEDS&MINERAL INTERESTS _M101 Net Revenue Interest (3) _M106 Bonuses (3) _M102 Royalties (3) _M107 Delay Rentals (3) _M103 Overriding Royalties (3) _M108 Shut-In Royalties (3) _M104 Production Payments (3) _M109 Minimum Royalties (3) _M105 Working Interest (3) _M199 Aggregate Mineral Interests (3) MISC CHECKS&INTANGIBLE PERSONAL PROPERTY _MS01 Wages,Payroll,Salary (1) _MS11 Refunds Due (3) _MS02 Commissions (3) _MS12 Unredeemed Gift Certificates (3) _MS03 Worker's Compensation Benefits (3) _MS13 Unclaimed Loan Collateral (3) _MSO4 Payment for Goods&Services (3) _MS14 Pension&Profit Share Plans _MS05 Customer Overpayments (3) (IRA,KEOGH) (3) _MSO6 Unidentified Remittances (3) _MS15 Dissolution or Liquidation (1/2) _MS07 Unrefunded Overcharges (3) _MS16 Misc Outstanding Checks (3) _MS08 Accounts Payable (3) _MS17 Misc intangible Prop (3) _MS09 Credit Balances-Accts Rec (3) _MS18 Suspense Liabilities (3) _MS10 Discounts Due (3) _MS99 Aggregate Misc Property (3) SAFE DEPOSIT BOXES&SAFEKEEPING _SD01 SD Box Contents (5) _SD03 Other Tangible Property (5) _SD02 Other Safekeeping (5) _SD04 Unclaimed Loan Collateral (5) COURT DEPOSITS _CT01 Escrow Funds (3) _CT05 Other Court Deposits (3) _CT02 Condemnation Awards (3) _CTO6 Restitution Payment (3) _CT03 Missing Heirs'Funds (3) _CT07 Aggregate Restitution Payments (3) _CT04 Suspense Accounts (3) _CT99 Aggregate Court Deposits (3) INSURANCE _IN01 Individual Policy Benefits _IN05 Premium Refunds or Claim Payments (3) _IN06 Unidentified Remittances (3) _IN02 Group Policy Benefits or Claim Payments (3) _IN07 Other Amounts Due _IN03 Proceeds Due Beneficiaries (3) Under Policy Terms (3) _IN04 Proceeds from Matured Policies, IN08 Agent Credit Balances (3) Endowments or Annuities (3) _IN99 Aggregate insurance Property (3) SECURITIES _SC01 Dividends (3) _SC14 Debentures (3) _SCO2 Interest(Bond Coupons) (3) _SC15 US Govt Securities (3) _SC03 Principal Payments (3) _SC16 Mutual Fund Shares (3) _SC04 Equity Payments (3) _SC17 Warrants(Rights) (3) _SC05 Profits (3) _SC18 Matured Bond Principal (3) _SCO6 Funds Pd to Purchase Shares (3) _SC19 Dividend Reinvestment Plans (3) SC07 Funds for Stocks&Bonds (3) _SC20 Credit Balances (3) _SC08 Shares of Stock(returned by post office) (3) _SC21 Funds for Unredeemed Stock/Bonds (3) _SC09 Cash for Fractional Shares (3) _SC22 Liquidating Cash/Stock Distribution (3) _SC10 Unexchanged Stock of Successor Corp (3) _SC23 Liquidating Cash Distribution (3) _SC11 Other Cert of Ownership (3) _SC24 Bond Principal with Interest (3) _SC12 Underlying Shares or _SC25 Called Bonds (3) Other Outstanding Certificates (3) _SC98 Securities and Related Cash (3) _SC13 Funds for Liquidating _SC99 Aggregate Security Related Cash (3) W 0 H p zw lL 0�� -C O a 2 G 1 W CC 0CC >- zF.o =O� 00w = a I- OOww apcc N Cl- �0w^ a. a m 0. 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PAUL, MINNESOTA 55101-2362 Q (612)296-2568 "85Sfi, INSTRUCTIONS - 1998 FOR PREPARING UNCLAIMED PROPERTY REPORT FORMS UP-1 and UP-2 I.NATURE OF UNCLAIMED PROPERTY 1. The Minnesota Uniform Disposition of Unclaimed Property repository are NOT covered by the Act. Briefly, unclaimed prop- Act (Minnesota Status §§345.31-345.60) requires businesses erty is funds or collateral in your possession that has gone and other organizations to review their records each year to unclaimed by or undelivered to the true owner for three years. determine if they are in possession of any funds or securities of Examples include, unclaimed account receivable credit bal- another person that have been unclaimed for three years or ances, unredeemed gift certificates, unidentified remittances, more. Businesses and other organizations in possession of such unclaimed dividends and interest,and unclaimed bank accounts. property must report it to this office. Please see the checklist on Form UP-1 for a more complete list of examples of unclaimed property. Note: abandonment periods 2. Real estate and tangible property outside of a safekeeping for some items differ.See Section IV below. II.WHO MUST REPORT 3. All businesses and other organizations (including public istered or licensed to do business in Minnesota and regardless agencies) holding unclaimed property of a Minnesota resident of whether they own real estate, plant or equipment in (individual or corporate) must report. This includes banks and Minnesota. Parent organizations have a duty to see to it that financial organizations, corporations, partnerships, sole propri- unclaimed property of their subsidiaries is reported. Principals etorships,cooperatives, non-profit organizations,school districts, have a duty to see to it that unclaimed property in the hands of utilities,and state and local government agencies. their agents (including stock transfer and dividend or payroll dis- bursing agents) is reported. Receivers and liquidating trustees 4. Businesses and other organizations not holding unclaimed have a duty to report for entities in receivership or in liquidation. property of a Minnesota resident (individual or corporate) must still report, if requested to do so by the Commissioner of 6.Any person who willfully fails to render any report or perform Commerce. Minnesota Rules, part 2885.0800. This report kit other duties required under the Act is guilty of a misdemeanor. when mailed to you constitutes such a request. If you have noth- Any person who willfully refuses to pay or deliver abandoned ing to report, please complete the Verification and Checklist property to the Commissioner of Commerce, as required under (Form UP-1) and enter"zero" in the blank space after the dollar the Act, is guilty of a gross misdemeanor. In addition to these sign in part 10 of that form. PLEASE NOTE THAT THE UP-1 penalties, a person who fails to pay or deliver unclaimed proper- MUST BE NOTARIZED. ty within the time prescribed after written demand by the Commissioner of Commerce shall pay to the Commissioner of 5. Businesses and other organizations holding unclaimed prop- Commerce interest at the rate of 12 percent per annum on the erty of Minnesota residents must report even if they are not reg- property or value thereof from the date of written demand. III.WHEN TO FILE 7. BUSINESSES AND OTHER ORGANIZATIONS. 8. LIFE INSURANCE COMPANIES AND FRATERNAL ORGANIZATIONS. July-Aug, 1998 Inform owners of steps necessary to prevent abandonment if whereabouts is known. Jan.-Feb. 1999 Inform owners of steps necessary to prevent abandonment if whereabouts is known. Oct. 31, 1998 Your report and remittance of unclaimed property,as of the preceding June 30,are due. Submit your report together with your stock, Sept. 30, 1999 Your report and remittance of unclaimed safe deposit boxes and/or remittance check. property,as of the preceding December 31,are Mark your calendar.An interest penalty will be due. Submit your report together with your assessed on late remittances. remittance check. Mark your calendar. An interest penalty will be assessed on late Spring, 1999 The Unclaimed Property Section advertises remittances. owners'names. Spring,2000 The Unclaimed Property Section advertises owners'name. 9. Early reporting of unclaimed property is permitted in some unclaimed property may, with the permission of the cases. Any person who has possession of property that he or Commissioner of Commerce, report and deliver such property she has reason to believe will be reportable in the future as before the date required for reporting. • IV.WHAT TO REPORT 10.GENERAL RULE. 2. exceptions to the three year rule of abandonment period All unclaimed or abandoned property must be reported. Property include: is unclaimed or abandoned if 1) the relevant period of time for a. traveler's checks where it is fifteen years; abandonment has run,and 2)the Minnesota jurisdiction test is met. b. patronage dividends, redeemed capital credits and money A. PERIOD OF ABANDONMENT orders where it is seven years; 1. For most types of property (including cash dividends, gift c. safe deposit boxes where it is five years; certificates, credit memos, matured bond principal, bond inter- d. utility deposit and unclaimed wages where it is one year; est)the abandonment period is three years from the"date of last e. and funds from dissolved organizations where it is six transaction." months. Page 2 B. MINNESOTA JURISDICTION show no "contact" with the owner with respect to shares not 1. Minnesota has jurisdiction if: enrolled in the plan. a) The address of the owner of the unclaimed property is in 3. Money Orders and travelers' Checks. In the case of a Minnesota; money order or travelers' check, under federal law it is b) The address of the owner is unknown, but the business reportable to Minnesota if purchased there. It is also reportable or other organization holding the unclaimed property is to Minnesota if the state of purchase is unknown or if the state of domiciled in Minnesota; purchase cannot, under its law, take the property and the princi- c) The address of the owner is in Guam, Samoa or in a for pal place of business of the holder is in Minnesota. Money eign country and the business or other organization hold- orders become abandoned if unclaimed by the owner seven ing the unclaimed property is domiciled in Minnesota. years after purchase. Travelers' checks become abandoned if 2.Stock. In the case of stock, Minnesota has jurisdiction if: unclaimed 15 years after purchase. a) The address of the owner of the stock is in Minnesota; 4. Dissolved Organizations. Funds of a dissolved organiza- OR tion created under Minnesota law are abandoned if unclaimed b) The holder is domiciled in Minnesota,and six months from the date of the final distribution. i) the address of the owner is in Guam, Samoa, or a foreign country;OR 5. Utility Deposits. Utility deposits for electricity,water, steam, ii) the address of the owner is in Georgia or Michigan or gas,or communications furnished in Minnesota are abandoned if Tennessee and the stock is"underlying stock";OR unclaimed one year after termination of service. iii)the address of the owner is unknown. 6. Safe Deposit Boxes.Contents of safe deposit boxes, locat- Stock is abandoned when the business has lost contact with ed in Minnesota, are reportable to Minnesota if unclaimed by the the owner for three years. "Contact" means that the owner has owner for more than five years from the date on which the safe not communicated in writing with the business regarding the deposit box lease or rental expired. Regarding safe deposit stock or ownership interest or a dividend, distribution or other boxes, the law requires that, in the presence of a person desig- sum payable as a result of the interest, nor otherwise communi- nated by the safe deposit box company and a notary not in its cated with the business regarding the interest or a dividend, dis- employ, tribution or sum payable as a result of the interest, as evidenced by a record on file with the business prepared by an employee of a) the safe deposit box be opened prior to reporting, the business. b) the contents be removed by the notary, c) a detailed description of the contents be made, The three year period leading to abandonment must include d) the contents be sealed in a package, three dividends and begins when the first unclaimed dividend or e) the name of the renter be marked on the package, distribution became payable. It ceases when "contact" has been f) the package be placed in one of the safe deposit company's re-established. general safe deposit boxes, Once an interest is presumed abandoned, any dividend or dis- g) the proceedings be set forth by the notary in a certificate tribution payable as a result of it is also presumed abandoned under official seal, and becomes reportable, no matter how long the dividend or dis- h) the certificate be delivered to the safe deposit company, tribution has been unclaimed. i) the description of the contents be reported to the Unclaimed Property Section once the contents are presumed aban- Stock enrolled in a dividend re-investment plan is not covered doned, by the law, unless records available to the plan administrator j) Remit the contents of safe deposit box. V.HOW TO REPORT 11.NOTHING TO REPORT/NEGATIVE REPORT to the right. In making corrections, please do not blot out the If after a thorough search of your records,you find you have no printed information. We need it to match your old and new infor- unclaimed property reportable to Minnesota, you need complete mation. only the Verification and Checklist,see item 13. (Form UP-1). 4. Contact Person. Enter the name of the person(s) most SOMETHING TO REPORT familiar with the details of the report. Legal Contact will be con- 12. tacted by the Unclaimed Property Section should any questions If you have unclaimed property to report to report to Minnesota arise concerning the report. Public Contact will be contacted by your Minnesota Unclaimed Property Report will consist of two claimants. parts,the Verification and checklist(Form UP-1)and the detailed 5. Telephone Number. Enter the contact person(s) telephone report(Form UP-2).The detailed report consists of 2 pages.The number. white page you file as your report together with your remittance. The pink page you keep for your records. 6. Address. Enter the contact person(s) address, if it is differ- entReports should be submitted on forms prescribed by the com from the holder's address. missioner. Forms UP-1 and UP-2. Alternate forms will not be 7. State and Date of Organization. If incorporated,enter your accepted without prior approval. state of incorporation and date of incorporation. If federally char- If you need additional forms,you may photocopy those sent to tered,enter the state of your principal place of business. you. If not incorporated, enter your state of domicile and the date The Unclaimed Property Section now has the ability to accept you were founded. the detailed part of your report on diskette. We encourage hold- 8. If your name changed while you were in possession of the ers to utilize this method of reporting. Please contact our Office unclaimed property being reported, enter your former name and for the reporting format that must be used. You must continue to date of the change. If you acquired the unclaimed property from file the UP-1 Verification and Checklist Form with your diskette another business (e.g., through merger, bulk sale, or purchase containing the owner and property information. Please provide of receivables) enter the name of the other business and the the white copy of the UP-2 Form with a total of the property date of acquisition. reported on the diskette in column 10. 9.Business Activity. Please check the appropriate entry,e.g., 13.VERIFICATION AND CHECKLIST(UP-1) a public school district is a"public authority." 1. Report Year. Enter the year in which the abandonment peri- 10.Verification. The report must be signed under oath by an od covered by the report ends- 1998. authorized individual. If the report is made by a partnership, it must be signed by one of the partners. If it is made by an unin- 2.Federal Employer Identification Number. Enter your feder- corporated association or by a private corporation, it,must be al employer identification number(FEIN). signed by an officer. If it is made by a public corporation, it must be signed by its chief fiscal officer. NOTE: THIS SIGNATURE 3.Holder.Enter your name and mailing address,unless they are MUST BE NOTARIZED INCLUDING NOTORIAL SEAL. already correctly printed on your form. If your name and address are incorrectly printed on the form, enter the correct information Page 3 11. Checklist. Examine your books and records to determine if 1. Made a deposit or withdrawal or requested interest be you have held for three years or more any types of property listed credited to the account OR: on the checklist. (Note that you are a "Holder" of such property 2. Corresponded in writing with the holder concerning the even if you have written it off or taken it into income at some point account OR: in the past.)Check items you are reporting by each listed catego- ry. If you checked any category,you must report on the UP-2 form 3. Received tax reports (e.g., 1099's) or regular state- all items of that type which you have held for three years or ments regarding the account OR; longer. The checklist also gives the codes to be used for diskette reporting. 4. Acted as in (1), (2), or (3) with regard to another demand,savings or time deposit at the same holder. 14.DETAILED REPORT(UP-2) (b) With safe deposit boxes it is the date on which the lease This form is used to report individual items of unclaimed prop- or rental period expired. erty.The report(white sheet) is to be completed and mailed with the Verification and Checklist (UP-1) where there are reportable (c) The "date property became payable, redeemable, or items of unclaimed property. returnable" is the date a dividend became payable, the date a note became payable,the date a cashier's check or 1. Holder. Enter the holder's name and address exactly as they draft or money order was issued, the date on which utility appear(after corrections, if any) on the Verification and Checklist. service was disconnected. If payable on demand,the date the instrument was issued should be used. If the item is a 2. Report Year. Enter the year in which the abandonment peri- savings certificate, use the first date of maturity when od covered by the report ends- 1998. determining abandonment, even if automatically renew- 3. Period Covered. Enter the period for which you examined able. Accounts maintained for minors under court supervi- your records for unclaimed property. If you filed a complete report sion become payable when the minor reaches legal age last year, this will be a three year period ending June 30, 1995 and are reportable three years later if still unclaimed. (December 31, 1995 if you are a life insurance company). If this is your first report and you are: Column (5). Gross Amount.The total amount or value due to owner is the amount of cash due the owner of the item, including 1.A banking or financial organization, the period covered com- all interest earned on deposits through June 30th of the reporting mences when you first start doing business in Minnesota and year and without deducting any service charges. ends June 30, 1995. In the case of stocks and bonds, the number of shares 2.A life insurance company,the period covered begins January should be listed and the actual or estimated value placed in 1, 1944, and ends December 31, 1995. parentheses to denote a non-cash item. Be sure it is clear whether you are reporting stock or cash. 3.Any other type of holder, the period covered begins January 1, 1944 and ends June 30, 1995. The face value on the instrument may be used if no other value 4. Entries. of unclaimed property should be is known. In the case of safe deposit boxes, identify the major 4. Columnd bycategory Items portion of the contents, e.g.,jewelry, money, stocks. For all safe grouped g ry ( g., payroll checks, unidentified remit deposit boxes, copies of the notarized inventories of the con- tances, etc.) and alphabetized by the last name within each nate tents must be attached as part of the report due October 31 and gory. remitted together with the contents of the box. Column (1). Owner Name. Enter the full name(last name first) Columns (6a) and (6b) Deductions Use column (6a) to indi- and last known address of each owner. Please double-space Cate whether any deductions or withholdings were made using between each account reported. these codes: a) List last name, full first name and full middle name, if avail- "SC"for service charge deducted; able. Be sure to include information which would aid in Iden-"IW"for interest withheld or discontinued; tification such as Jr., Sr., Miss, Mrs., etc., after the middle "DW"for dividends withheld or discontinued. name(e.g.,"Smith,Jane Ann, Mrs."). b) Corporate titles and the like should be entered exactly as Do not list taxes withheld on pay checks. adopted,except that the word'The"should be omitted when Use column (6b) to enter the amount of any service charges it is the first word in the title. imposed by virtue of the inactivity, dormancy or abandonment of c) List the complete address, including the zip code, of the the property. Please note service charges may only be deducted owner as it last appeared in your records. If no address is pursuant to a contract and for a period not to exceed one year. available, insert"Address Unknown"beneath the name. No service charges may be deducted from dividends or other distributions held by business associations or from funds held by d) If a single item has two or more owners, the names and life insurance companies or fiduciaries, and no charge, including addresses of both must be shown along with the relation- a bank's maintenance charge, can be deducted from an item ship (e.g., `Trustee for", "or", "and", etc.). If all owners have after 3 years has elapsed since the date listed in column (4). the same address, the address may be entered once Service charges must be reported on the report due by beneath the names. October 31. e) When reporting certified or cashier's checks, list the names If service charges have been deducted,the holder shall include and addresses of both the payee and remitter, specifying or attach as part of the report: each. In the case of money orders and travelers checks, 1. The citation of the authority or a copy of the form of contract only the identification number is required. authorizing such service charges; f) If your records do not show an owner name for any item of $100.00 or more, be sure to enter the identification number 2. The value or amount of each item of property before any service charges were deducted therefrom (column (6b) ) in column (3). If no identification numbers are available, and the date or dates on which such service charges were report the property in the aggregate, and include any avail- deducted(attach sheet); able identifying information. Column (2).Social Security Number. Enter the owner's social 3. The amount of service charges deducted from each item security number. (column (6) ) and the date or dates on which such service charges were deducted(attach sheet). Column (3). Description. Enter the property description/type The above information must also be reported if the total of the code (see UP-1 Form) and identifying number of each item service charges deducted from an item of property equal or (check number, account number, etc.). Note, however, that exceeds the value of the item, that is if the property is "wiped items under$100.00 may be reported in the aggregate within the out"or"zeroed out". appropriate category (e.g., "17 vendor checks, each under $100.00-$455.64"). Your bank regulations on service charges may no longer be Column (4). Date. The "date of last transaction" is the most the same as those governing the service charges you deducted recent date on which the owner: on your report. If they have changes, please send us a copy of your present regulations, as well as those governing charges (a) in the case of a bank account, taken on the report. Page 4 If payment of interest or dividends on property presumed aban- Mail the completed UP-2 with your remittance(check or money doned was discontinued, before or after the property was pre- order and any reported securities or safe deposit box contents) sumed abandoned, by reason of the inactivity, dormancy or and keep the holder copy for your files. unclaimed status of the property, the holder shall include or If you submitted the detailed (owner and property information) attach as part of the report: portion of your unclaimed property report on diskette and return 1. A copy of the form of contract which authorized such dis- property to owners, you will need to file the remittance advice continuance of payment of interest or dividends;or (signed by an authorized individual and notarized. Please 2. The citation of the authority for such discontinuance of pay- provide the total amount of property returned to owners in ment of interest or dividends. column 9B and the total amount of property remitted to the state in column 10. Column (7). Net Amount. Enter the amount reported as due 16.Due Diligence requirement.Pursuant to MN Statutes 345.32 the owner of the item. This is the amount in column (5) less the and 345.41(e), you MUST comply with the due diligence require- amount in column(6b). ment for reporting. Not more than 120 days before filling the report, a) Enter the column totals at the bottom of each column. If the holder shall send written notice to the presumed owner at the your report is no longer than one page, enter the grand owners last known address if: (1) the holder has in its records an totals for the entire report on the last page submitted with address for the presumed owner that the holder's records do not disclose to be inaccurate,(2)the claim of the apparent owner is not the report. barred by the Statute of limitations; and (3) the property has a 15.REMITTANCE ADVICE value of$100 or more. VERIFICATION:THE REMITTANCE ADVICE MUST BE SIGNED 17. RECIPROCITY AGREEMENTS BY AN AUTHORIZED INDIVIDUAL AND NOTARIZED. (See Minnesota has reciprocity agreements with the following states: instructions, VERIFICATION AND CHECKLIST 13(10).) Space is Arkansas, California, District of Columbia, Florida, Idaho, Illinois, provided in the upper right-hand corner of Form UP 2P. Indiana, Iowa, Kentucky, Louisiana, Massachusetts, Missouri, Column (8). Additions. If interest or dividends have been Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Oklahoma, Rhode Island, South Dakota, Utah, Virginia, added,or the property has increased in value in some other way Washington and Wisconsin. If you are located in Minnesota, and since June 30 (December 31 for life insurers), enter the amount have a limited number (less than 10) of owners to report for of the increase over the amount listed in column(7). another state, you may report to this Office unclaimed funds for If interest or dividends paid after December 31, 1983, are sub-, each of these states and fullfill your reporting obligations to ject to backup withholding under federal revenue law, please them. P{lease use Minnesota reporting forms and report and indicate the amount withheld and remitted to the IRS in paren- remittance dates. The law for each state determines what funds theses in column (8) and insert the abbreviation "BW" (for back- are reportable, the aggregate value, and which abandonment up withholding) in column(9a). period applies. Property reported in the aggregate should be grouped by state. Please inform those states if you intend to use Column(10)Amount Remitted. For each item,the sum of the this option. Any questions regarding these agreements, types of amounts in columns(7)and (8), less the amount in column (9b), property and abandonment periods can be directed to the must be entered in column (10).The total of all amounts listed in Minnesota Office of Unclaimed Property or the Unclaimed column (10) must be remitted to this Office payable to the Property Office in any of the states named. "Minnesota Department of Commerce." (See "When to File," above.) One check per remittance, please. If any securities are 18.ADDITIONAL INFORMATION being remitted, they must be registered in the name: If you have questions about reporting obligations, you may call Minnesota Department of Commerce. A confirmation state- the Unclaimed Property Section at(612)296-2568 or write to the ment is required for all mutual funds and book entry only address given below. The Toll-free number for organizations shares.The contents of safe deposit boxes must be sent by located in out-state Minnesota is 1-800-925-5668. registered mail or hand delivered to this office. Minnesota Department of Commerce Unclaimed Property Section 133 East Seventh Street St. Paul, Minnesota 55101-2362 z.......... ate= MINNESOTA DEPARTMENT OF COMMERCE 4 • .NINIv July, 1998 TO: Businesses and Organizations(other than Life Insurance Companies) RE: Minnesota Uniform Disposition of Unclaimed Property Act Minnesota Statute 345.31 to 345.60 The Minnesota Unclaimed Property Act requires businesses and other organizations to report to the Commissioner of Commerce certain funds that have remained unclaimed for three years. Your 1998 Minnesota Unclaimed Property Report should include items outstanding before June 30, 1995 and still unclaimed. In addition to bank deposits and corporate dividends, uncashed vendor checks and payroll checks are frequently reported unclaimed items. Pursuant to Minnesota Statutes§345.32 and 345.41(e);you MUST comply with the due diligence requirements before reporting. **Not more than 120 days before filing the report,the holder shall send written notice to the presumed owner at that owners last known address if: (1)the holder has in its records an address for the presumed owner that the holder's records do not disclose to be inaccurate; (2)the claim of the apparent owner is not barred by the Statute of limitations;and (3)the property has a value of$100 or more. **Receipt of the notice by the owner should be presumed if the statement is mailed first class by your organization and not returned. In this circumstance,this property should NOT be reported as abandoned. Be advised that if this Department is notified that an owner we have received property for is still residing or doing business at the same address reported by you as a holder,you may not be in compliance with state law and could be subject to penalty. PLEASE NOTE: YOU MUST REPORT AND REMIT SIMULTANEOUSLY. _Oct.31, 1998 Your report of unclaimed property, as of the preceding June 30th,is due. Your remittance form(UP-2)must be submitted together with your check. The Minnesota Unclaimed Property Office can accept annual reports of unclaimed property on diskette. If you have more than 25 owners to report,please utilize this reporting option. A description of the format to be followed and a diskette formatting program(allows holders to correct any errors on their own system)may be obtained by calling the Minnesota Unclaimed Property Office. To ensure full compliance with the law,please read the detailed instructions carefully. If thereafter you have any questions,please do not hesitate to contact the Unclaimed Property Office at (651)296-2568 or toll free in Minnesota at 1-800-925-5668. incerely, 401 i . Da''. ;. Gruenes Commissioner of Commerce 133 East Seventh Street, St.Paul,MN 55101 Tel.(612)296-4026 • Toll Free(800)657-3602 • Fax(612)296-4328 • TTY/TDD(612)296-2860 e-mail: commerce@state.mn.us An Equal Opportunity Employer