10 IAC 1.5-2-3 - Incomplete or inaccurate report or remittance

Authority: IC 32-34-1-52

Affected: IC 32-34-1-42; IC 32-34-1-45

Sec. 3.

(a) Any unclaimed property report or remittance submitted to the attorney general that:

(1) is incomplete;

(2) is inaccurate;

(3) is not submitted on forms provided by the attorney general;

(4) uses a format that has not received prior approval from the attorney general;

(5) fails to identify the category of unclaimed property contained in the report;

(6) fails to provide the date of last transaction or first payable date for property reported;

(7) fails to provide legal descriptions and decimal percentage of ownership for owners whose property is derived from mineral interests; or

(8) fails to include any other information on the report as required under IC 32-34-1[IC 32-34-1 was repealed by P.L. 141-2021, SECTION 19, effective July 1, 2021.] or these rules; shall be returned to the holder for correction.

(b) The attorney general shall provide a written explanation of the deficiencies in the report and the manner in which the deficiencies may be corrected.

(c) The holder is required to submit a corrected unclaimed property report or remittance to the attorney general within twenty (20) calendar days after the attorney general returns the original report or remittance to the holder.

(d) Under IC 32-34-1-42(b) [IC 32-34-1 was repealed by P.L. 141-2021, SECTION 19, effective July 1, 2021.] and IC 3234-1-45[IC 32-34-1 was repealed by P.L. 141-2021, SECTION 19, effective July 1, 2021.], failure of the holder to submit a corrected, accurate, and complete report or remittance within the time set forth in subsection (c) is sufficient reason to believe that the holder's failure to report property is grounds for examination of the holder and grounds for assessment of statutory fines and/or penalties.

Notes

10 IAC 1.5-2-3

Office of Attorney General for the State; 10 IAC 1.5-2-3; filed Jul 1, 1997, 4:15 p.m.: 20 IR 2997; errata filed Apr 17, 2003, 3:30 p.m.: 26 IR 3046; readopted filed Aug 14, 2003, 1:15 p.m.: 27 IR 946; readopted filed Oct 6, 2009, 9:03 a.m.: 20091104-IR-010090575RFA Readopted filed 10/26/2015, 1:48 p.m.: 20151125-IR-010150149RFA Readopted filed 11/10/2021, 4:13 p.m.: 20211208-IR-010210426RFA