The Bureau of Unclaimed Property encourages businesses to voluntarily comply with Pennsylvania’s Unclaimed Property Law by filing a report annually by April 15. For businesses that have never filed a report or may have overlooked certain property types, and would like to come into compliance, Treasury offers a Voluntary Disclosure Agreement to bring companies up-to-date with their annual filing while receiving a waiver of penalties and interest. Please note, this agreement must be signed by the business’ corporate officer and approved by Treasury prior to filing the report. This agreement is not needed if filing a negative report.
If in the course of compiling your annual report of unclaimed property you find that you will not be able to get your report finished in time for the April 15th deadline, you can request an extension.
What do you need to do when you have property that has not yet reached the dormancy period and you’d like to report early? You’ll need to complete the Early Remittance Request form. Please be aware that property must be at least a year old before early remittance will be approved. Also, remember our dormancy period for the majority of unclaimed property is now three years, not five, so this may affect your need for early remittance.