reglab/statecodes huggingface dataset:
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0202 - When tax-deferred retirement account presumed abandoned.

177.0202
When tax-deferred retirement account presumed abandoned.
(1)
Subject to s. 177.0210, property held in a pension account or retirement account that qualifies for federal income tax deferral under the U.S. income tax laws is presumed abandoned if it is unclaimed by the apparent owner 3 years after the later of:
(a)
The following dates:
1.
The date on which a 2nd consecutive communication sent by the holder by 1st class mail to the apparent owner is returned to the holder by the U.S. postal service as undeliverable.
2.
If the 2nd communication is sent later than 30 days after the date on which the first communication is returned to the holder by the U.S. postal service as undeliverable, the date on which the first communication was returned as undeliverable.
(b)
The earlier of the following dates:
1.
The date on which the apparent owner reaches the minimum required distribution age, as specified under the Internal Revenue Code or by federal regulation, if that can be determined by the holder.
2.
If distribution to avoid a tax penalty is required under the Internal Revenue Code, 2 years after the following:
a.
The date on which the holder receives confirmation of the death of the apparent owner in the ordinary course of the holder's business.
b.
The date on which the holder confirms the death of the apparent owner under sub. (2).
(2)
If a holder in the ordinary course of its business receives notice or an indication of the death of an apparent owner and sub. (1) (b) applies, the holder shall attempt not later than 90 days after receipt of the notice or indication to confirm whether the apparent owner is deceased.
(3)
If the holder does not send communications to the apparent owner of an account described in sub. (1) by 1st class mail, the holder shall attempt to confirm the apparent owner's interest in the property by sending the apparent owner e-mail not later than 2 years after the apparent owner's last indication of interest in the property, except that the holder shall promptly attempt to contact the apparent owner by 1st class mail if any of the following applies:
(a)
The holder does not have information needed to send the apparent owner e-mail or the holder believes that the apparent owner's e-mail address in the holder's records is not valid.
(b)
The holder receives notification that the e-mail was not received.
(c)
The apparent owner does not respond to the e-mail within 30 days from the date on which the e-mail was sent.
(4)
If 1st class mail sent under sub. (3) is returned to the holder by the U.S. postal service as undeliverable, the property is presumed abandoned on the date determined under sub. (1).
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0203 - When other tax-deferred account presumed abandoned.

177.0203
When other tax-deferred account presumed abandoned.
Subject to s. 177.0210, and except for property described under s. 177.0202 and property held in a plan described in section 529A of the Internal Revenue Code, property held in an account or plan, including a health savings account, that qualifies for federal income tax deferral under the Internal Revenue Code is presumed abandoned if it is unclaimed by the apparent owner 3 years after the earliest of the following:
(1)
The date specified under the Internal Revenue Code or by federal regulation by which the distribution of property must begin in order to avoid a penalty, if no such distribution has been made.
(2)
Thirty years after the date on which the account was opened.
History: 2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0204 - When custodial account for a minor presumed abandoned.

177.0204
When custodial account for a minor presumed abandoned.
(1)
Subject to s. 177.0210, property held in an account established under any state's uniform gifts to minors act or uniform transfers to minors act is presumed abandoned if it is unclaimed by or on behalf of the minor on whose behalf the account was opened 3 years after the later of the following:
(a)
If the date on which the minor's custodian is required to transfer the property to the minor has passed, the date on which a 2nd consecutive communication sent by the holder by 1st class mail to the minor's custodian is returned to the holder by the U.S. postal service as undeliverable.
(b)
If the date on which the minor's custodian is required to transfer the property to the minor has passed and if the 2nd communication is sent by the holder to the minor's custodian later than 30 days after the date on which the first communication is returned to the holder by the U.S. postal service as undeliverable, the date on which the first communication was returned as undeliverable.
(c)
The date on which the minor's custodian is required to transfer the property to the minor or the minor's estate in accordance with the uniform gifts to minors act or uniform transfers to minors act of the state in which the account was opened.
(2)
If the holder does not send communications to the custodian by 1st class mail, as described in sub. (1), the holder shall attempt to confirm the custodian's interest in the property by sending the custodian e-mail not later than 2 years after the custodian's last indication of interest in the property, except that the holder shall promptly attempt to contact the custodian by 1st class mail if any of the following applies:
(a)
The holder does not have information needed to send the custodian e-mail or the holder believes that the custodian's e-mail address in the holder's records is not valid.
(b)
The holder receives notification that the e-mail was not received.
(c)
The custodian does not respond to the e-mail within 30 days from the date on which the e-mail was sent.
(3)
If 1st class mail sent under sub. (2) is returned to the holder by the U.S. postal service as undeliverable, the property is presumed abandoned on the date determined under sub. (1).
(4)
The property in the account described under sub. (1) is not subject to this section after the property is transferred to the minor or the minor's estate.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0205 - When contents of safe deposit box presumed abandoned.

177.0205
When contents of safe deposit box presumed abandoned.
Tangible property held in a safe deposit box and proceeds from a sale of the property by the holder permitted by law of this state other than this chapter are presumed abandoned if the property remains unclaimed by the apparent owner 5 years after the earliest of the following:
(1)
The expiration of the lease or rental period for the box.
(2)
The earliest date when the lessor of the box is authorized by contract or law of this state other than this chapter to enter the box and remove or dispose of the contents without consent or authorization of the lessee.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0206 - When U.S. savings bonds presumed abandoned.

177.0206
When U.S. savings bonds presumed abandoned.
Except as provided in s. 177.0205, a U.S. savings bond that remains unredeemed by the owner for more than 5 years after the date of final maturity is presumed abandoned. In this section, “final maturity" means the date a U.S. savings bond stops earning interest upon reaching its final extended maturity date.
History:  2015 a. 309; 2021 a. 87 s. 145; Stats. 2021 s. 177.0206.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0207 - When security presumed abandoned.

177.0207
When security presumed abandoned.
(1)
Subject to s. 177.0210, a security is presumed to be abandoned 3 years after the following:
(a)
The date on which a 2nd consecutive communication sent by the holder by 1st class mail to the apparent owner is returned to the holder by the U.S. postal service as undeliverable.
(b)
If the 2nd communication is sent by the holder to the apparent owner later than 30 days after the date on which the first communication is returned to the holder by the U.S. postal service as undeliverable, the date on which the first communication was returned as undeliverable.
(2)
If the holder does not send communications to the apparent owner of the security by 1st class mail, as described in sub. (1), the holder shall attempt to confirm the apparent owner's interest in the security by sending the apparent owner e-mail not later than 2 years after the apparent owner's last indication of interest in the security, except that the holder shall promptly attempt to contact the apparent owner by 1st class mail if any of the following applies:
(a)
The holder does not have information needed to send the apparent owner e-mail or the holder believes that the apparent owner's e-mail address in the holder's records is not valid.
(b)
The holder receives notification that the e-mail was not received.
(c)
The apparent owner does not respond to the e-mail within 30 days from the date on which the e-mail was sent.
(3)
If 1st class mail sent under sub. (2) is returned to the holder by the U.S. postal service as undeliverable, the security is presumed abandoned 3 years after the date on which the mail is returned.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0208 - When related property presumed abandoned.

177.0208
When related property presumed abandoned.
At and after the time property is presumed abandoned under this chapter, any property right or interest accrued or accruing from property presumed abandoned under this chapter is presumed abandoned.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0209 - Proceeds from sale of property in self-service storage facility.

177.0209
Proceeds from sale of property in self-service storage facility.
Notwithstanding any other provision under this chapter, the proceeds of a sale under s. 704.90 (6) of personal property stored in a leased facility located within a self-service storage facility is presumed abandoned immediately after satisfaction of the operator's lien under s. 704.90 (3) (a).
History:  1987 a. 23; 2021 a. 87 s. 155; Stats. 2021 s. 177.0209.
While excess proceeds from sales under s. 704.90 (6) are presumed abandoned, nothing in this chapter suggests that this presumption may not be overcome. Nothing suggests that the holder may continue to hold the excess proceeds even if the person whose property was sold presents himself or herself in person to the holder or otherwise contacts the holder. Cook v. Public Storage, Inc., 2008 WI App 155, 314 Wis. 2d 426, 761 N.W.2d 645, 07-2077.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0212 - Deposit account for proceeds of insurance policy or annuity contract.

177.0212
Deposit account for proceeds of insurance policy or annuity contract.
If proceeds payable under a life or endowment insurance policy or annuity contract are deposited into an account with check or draft writing privileges for the beneficiary of the policy or contract and, under a supplementary contract not involving annuity benefits other than death benefits, the proceeds are retained by the insurance company or the financial organization where the account is held and the policy or contract includes the assets in the account, the assets in the account are subject to the same presumption of abandonment that is applied to the underlying policy or contract.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0213 - Property held by agents and fiduciaries.

177.0213
Property held by agents and fiduciaries.
(1)
Property and any income or increment derived from it held in a fiduciary capacity for the benefit of another person is presumed abandoned unless the owner, within 5 years after it has become payable or distributable, has increased or decreased the principal, accepted payment of principal or income, or otherwise indicated an interest as provided in s. 177.0210.
(2)
Funds in an individual retirement account or a retirement plan for self-employed individuals or similar account or plan established pursuant to the U.S. internal revenue code are not payable or distributable within the meaning of sub. (1) unless, under the terms of the account or plan, distribution of all or part of the funds would then be mandatory.
(3)
For the purpose of this section, a person who holds property as an agent for a business association is deemed to hold the property in a fiduciary capacity for that business association alone, unless the agreement between the holder and the business association provides otherwise.
(4)
For the purposes of this section, a person who is deemed to hold property in a fiduciary capacity for a business association alone is the holder of the property only insofar as the interest of the business association in the property is concerned, and the business association is the holder of the property insofar as the interest of any other person in the property is concerned.
History:  1983 a. 408; 2021 a. 87 s. 133; Stats. 2021 s. 177.0213.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0214 - Distributions by certain insurance company activities.

177.0214
Distributions by certain insurance company activities.
(1)
Subject to s. 177.0210, property distributable in the course of a demutualization of an insurance company is presumed abandoned.
(2)
Subject to s. 177.0210, property distributable in the course of the dissolution of the Health Insurance Risk-Sharing Plan under 2013 Wisconsin Act 20, section 9122 (1L), and 2013 Wisconsin Act 116, section 32 (1) (b), is presumed abandoned.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0215 - Refunds held by business associations.

177.0215
Refunds held by business associations.
Except to the extent otherwise ordered by the court or administrative agency, any sum that a business association has been ordered to refund by a court or administrative agency which has remained unclaimed by the owner for more than one year after it became payable in accordance with the final determination or order providing for the refund, regardless of whether the final determination or order requires any person entitled to a refund to make a claim for it, is presumed abandoned.
History:  1983 a. 408; 2021 a. 87 s. 113; Stats. 2021 s. 177.0215.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0301 - Address of apparent owner to establish priority.

177.0301
Address of apparent owner to establish priority.
(1)
The last-known address of an apparent owner is any description, code, or other indication of the location of the apparent owner that identifies the state, even if the description, code, or indication of location is not sufficient to direct the delivery of 1st class mail to the apparent owner.
(2)
If the zip code associated with the apparent owner is for a post office located in this state, this state is deemed to be the state of the last-known address of the apparent owner unless other records associated with the apparent owner specifically identify the physical address of the apparent owner to be in another state.
(3)
If the address under sub. (2) is in another state, the other state is deemed to be the state of the last-known address of the apparent owner.
(4)
The address of the apparent owner of a life or endowment insurance policy or annuity contract or its proceeds is presumed to be the address of the insured or annuitant if a person other than the insured or annuitant is entitled to the amount owed under the policy or contract and the address of the other person is not known by the insurance company and cannot be determined under s. 177.0302.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0302 - Address of apparent owner in this state.

177.0302
Address of apparent owner in this state.
Unless otherwise provided in this chapter or by another law of this state, if property is presumed abandoned, the property is subject to reporting to and custody of this state whether located in this state, another state, or a foreign country if any of the following applies:
(1)
The last-known address of the apparent owner in the records of the holder is in this state.
(2)
The records of the holder do not reflect the identity or last-known address of the apparent owner, but the administrator has determined that the last-known address of the apparent owner is in this state.
(3)
The records of the holder do not reflect the identity of the apparent owner, but the records of the holder do reflect that the last-known address of the apparent owner is in this state.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0303 - If records show multiple addresses of apparent owner.

177.0303
If records show multiple addresses of apparent owner.
(1)
Except as provided in sub. (2), if records of a holder reflect multiple addresses for an apparent owner and this state is the state of the most recently recorded address, the property is subject to reporting to and custody of this state and the administrator may take custody of property presumed abandoned, whether located in this state or another state.
(2)
If it appears from records of the holder that the most recently recorded address of the apparent owner under sub. (1) is a temporary address and this state is the state of the next most recently recorded address that is not a temporary address, the property is subject to reporting to and custody of this state and the administrator may take custody of the property presumed abandoned.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0304 - Holder domiciled in this state.

177.0304
Holder domiciled in this state.
(1)
Except as provided in sub. (2) or s. 177.0302 or 177.0303, property presumed abandoned is subject to reporting to and custody of this state and the administrator may take custody of property presumed abandoned, whether located in this state, another state, or a foreign country, if the holder is domiciled in this state or is this state or a governmental subdivision, agency, or instrumentality of this state and any of the following applies:
(a)
Another state or foreign country is not entitled to the property because there is no last-known address of the apparent owner or other person entitled to the property in the records of the holder.
(b)
The state or foreign country of the last-known address of the apparent owner or other person entitled to the property does not provide for custodial taking of the property.
(2)
Property is not subject to the custody of the administrator under sub. (1) if the property is specifically exempt from custodial taking under the laws of this state or the state or foreign country of the last-known address of the apparent owner.
(3)
If a holder's state of domicile has changed since the time the property was presumed abandoned, the holder's state of domicile for purposes of this section is deemed to be the state where the holder was domiciled at the time the property was presumed abandoned.
History:  2021 a. 87; 2021 a. 240 s. 30.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0305 - Custody if transaction took place in this state.

177.0305
Custody if transaction took place in this state.
Except as provided in s. 177.0302, 177.0303, or 177.0304, property presumed abandoned is subject to reporting to and custody of this state and the administrator may take custody of property presumed abandoned whether located in this state or another state if any of the following applies:
(1)
The transaction out of which the property arose took place in this state.
(2)
The holder is domiciled in a state that does not provide for the custodial taking of the property, except that if the property is specifically exempt from custodial taking under the law of the state of the holder's domicile, the property is not subject to the custody of the administrator.
(3)
The last-known address of the apparent owner or other person entitled to the property is unknown or in a state that does not provide for the custodial taking of the property, except that if the property is specifically exempt from custodial taking under the law of the state of the last-known address, the property is not subject to the custody of the administrator.
History:  2021 a. 87; 2021 a. 240 s. 30.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0306 - Traveler's check, money order, or similar instrument.

177.0306
Traveler's check, money order, or similar instrument.
Sums payable on a traveler's check, money order, or similar instrument presumed abandoned are subject to reporting to and custody of this state and the administrator may take custody of such sums to the extent permitted under 12 USC 2501 to 2503.
History:  2021 a. 87; 2021 a. 240 s. 30.
Under the federal Disposition of Abandoned Money Orders and Traveler's Checks Act, 12 USC 2501 to 2503, the proceeds of a money order, traveler's check, or other similar written instrument (other than a third-party bank check) escheat to the state of purchase upon abandonment, so long as purchase-location information is known and that state has enacted laws empowering it to take custody of those proceeds. When a financial product operates like a money order—in other words, when it is a prepaid written instrument used to transmit money to a named payee—and when it would also escheat inequitably solely to the state of incorporation of the company holding the funds under the common-law rules due to recordkeeping gaps, then it is sufficiently “similar" to a money order to fall presumptively within the Act. Delaware v. Pennsylvania, 598 U.S. ___, 143 S. Ct. 696, 215 L. Ed. 2d 24 (2023).
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0307 - Virtual currency.

177.0307
Virtual currency.
Virtual currency presumed abandoned is subject to reporting to and custody of this state if the holder is able to convert virtual currency to U.S. currency by sale, exchange, or any other disposition. The holder shall convert the virtual currency to U.S. currency for delivery to the administrator.
History:  2021 a. 87; 2021 a. 240 s. 30.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0308 - Hazardous or dangerous items found in safe deposit box.

177.0308
Hazardous or dangerous items found in safe deposit box.
Thirty days prior to delivery of any hazardous or dangerous items such as guns, chemicals, or explosives under s. 177.0205, the holder shall provide written notice to the administrator and deliver the hazardous or dangerous items as required by the administrator.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0401 - Report required by holder.

177.0401
Report required by holder.
(1)
(a)
A holder of property presumed abandoned and subject to the custody of the administrator shall report in a record to the administrator concerning the property.
(b)
A holder shall report electronically in a format approved by the administrator, unless the administrator approves another method.
(2)
A holder may contract with a 3rd party to make the report required under sub. (1).
(3)
Regardless of whether a holder enters into a contract under sub. (2), the holder is responsible to the administrator for the complete, accurate, and timely reporting of property presumed abandoned and for paying or delivering the property described in the report to the administrator.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0402 - Content of report.

177.0402
Content of report.
(1)
The report required under s. 177.0401 shall be signed by or on behalf of the holder and verified as to its completeness and accuracy and be in a secure format, as approved by the administrator, that protects the apparent owner's confidential information in the same manner as is required of the administrator and administrator's agent under subch. XIV. The report shall contain the following information:
(a)
A description of the property.
(b)
Unless the property is a traveler's check, money order, or similar instrument, the name, last-known address, social security number or taxpayer identification number, and date of birth of the property's apparent owner, if such information is known or readily ascertainable.
(c)
For an amount held or owing under a life or endowment insurance policy or annuity contract, the name, social security number or taxpayer identification number, if known, date of birth, if known, and last-known address of the insured, annuitant, or other apparent owner of the policy or contract and of each beneficiary.
(d)
For property held in or removed from a safe deposit box or other safekeeping repository or for other tangible personal property, an itemized inventory and description of the property, including the location of the property where it may be inspected by the administrator and any amounts owed to the holder.
(e)
The commencement date for determining abandonment under subch. II.
(f)
A statement that the holder has complied with the notice requirements of s. 177.0501.
(g)
Any other information prescribed by the administrator.
(2)
A report under s. 177.0401 may include in the aggregate items valued under $5 each only if the apparent owner is unknown.
(3)
A report under s. 177.0401 may include personal information, as defined in s. 177.1401 (1), about the apparent owner or the apparent owner's property to the extent not otherwise prohibited by federal law.
(4)
If a holder has changed the holder's name while holding property presumed abandoned or is a successor to another person that previously held the property for the apparent owner, the holder shall include in the report under s. 177.0401 the holder's former name or the name of the previous holder, if any, and the known name and address of each previous holder of the property.
History:  2021 a. 87; 2021 a. 240 s. 30.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0403 - When report to be filed.

177.0403
When report to be filed.
(1)
Subject to sub. (2), the report under s. 177.0401 shall be filed on or before November 1 of each year and cover the 12 months preceding July 1 of that year.
(2)
Before the due date for filing the report under s. 177.0401, the holder of property presumed abandoned may request the administrator to extend the time for filing. The administrator may grant an extension of 60 days or other period agreed to by the administrator.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0404 - Retention of records by holder.

177.0404
Retention of records by holder.
(1)
A holder required to file a report under s. 177.0401 shall retain records for 10 years after the later of the date on which the report was filed or the last date on which a timely report was due to be filed, unless a shorter period is prescribed by rule by the administrator.
(2)
The holder may satisfy the requirement to retain records under this section through an agent.
(3)
The records retained under this section shall include the following:
(a)
The information required to be included in the report under s. 177.0401.
(b)
The date, place, and nature of the circumstances that gave rise to the property right.
(c)
The amount or value of the property.
(d)
The last address of the apparent owner, if known to the holder.
(e)
If the holder sells, issues, or provides to others for sale or issue in this state traveler's checks, money orders, or similar instruments, other than 3rd-party bank checks, on which the holder is directly liable, a record of the instruments while they remain outstanding, indicating the state and date of issue.
History:  2021 a. 87; 2021 a. 240 s. 30.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0405 - Property reportable and payable or deliverable absent owner demand.

177.0405
Property reportable and payable or deliverable absent owner demand.
Property is reportable and payable or deliverable under this chapter even if the owner fails to make demand or present an instrument or document otherwise required to obtain payment.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0406 - Negative reporting.

177.0406
Negative reporting.
(1)
The administrator may require any person or persons to file a report as otherwise prescribed in this section, except that the administrator may specify a deadline after the deadline specified in s. 177.0403.
(2)
The administrator may require any person to file a report even if the person believes the person is not in possession of any property reportable or deliverable under this chapter.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0501 - Notice to apparent owner by holder.

177.0501
Notice to apparent owner by holder.
(1)
Subject to sub. (2), the holder of property presumed abandoned shall send to the apparent owner notice by 1st class mail that complies with s. 177.0502, in a format acceptable to the administrator, not more than 120 days nor less than 60 days before filing the report under s. 177.0401, if all of the following apply:
(a)
The holder has in the holder's records an address for the apparent owner that the records do not indicate to be invalid and that is sufficient to direct the delivery of 1st class mail to the apparent owner.
(b)
The value of the property is $50 or more.
(2)
If an apparent owner has consented to receive e-mail delivery from the holder, the holder shall send the notice described in sub. (1) both by 1st class mail to the apparent owner's last-known mailing address and by e-mail, unless the holder believes that the apparent owner's e-mail address is invalid.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0502 - Contents of notice by holder.

177.0502
Contents of notice by holder.
(1)
Notice under s. 177.0501 shall contain a heading that reads substantially as follows: “Notice. The State of Wisconsin requires us to notify you that your property may be transferred to the custody of the state's unclaimed property administrator if you do not contact us before (the date that is 30 days after the date of the notice).”
(2)
The notice under s. 177.0501 shall do all of the following:
(a)
Identify the nature and, except for property that does not have a fixed value, the value of the property that is the subject of the notice.
(b)
State that the property will be turned over to the administrator.
(c)
State that after the property is turned over to the administrator an apparent owner that seeks return of the property shall file a claim with the administrator.
(d)
State that the property may be sold by the administrator.
(e)
Provide instructions that the apparent owner shall follow to prevent the holder from reporting and paying or delivering the property to the administrator.
History:  2021 a. 87; 2021 a. 240 s. 30.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0504 - Cooperation among state officers and agencies to locate apparent owners.

177.0504
Cooperation among state officers and agencies to locate apparent owners.
Unless otherwise prohibited by law, at the request of the administrator, each officer, agency, board, commission, division, or department of this state, any body politic or corporate created by this state for a public purpose, and each political subdivision of this state shall make its books and records available to the administrator and cooperate with the administrator to determine the current address of an apparent owner of property held by the administrator under this chapter.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0505 - Tax return identification of apparent owners.

177.0505
Tax return identification of apparent owners.
(1)
Annually, before July 1, the administrator shall determine if either of the following applies to any apparent owner of abandoned property under s. 177.0503:
(a)
The apparent owner has filed a tax return in the 14 months preceding the determination.
(b)
The apparent owner is a debtor under s. 71.93 or 71.935.
(2)
For any person who is identified in sub. (1) and who is not a debtor under sub. (1) (b), the administrator shall do the following:
(a)
Deliver the property to the apparent owner, in the manner provided under s. 177.0903, without requiring the apparent owner to file a claim under s. 177.0903, if the value of the abandoned property is $2,000 or less.
(b)
Send written notice to the person, informing the person that he or she is the owner of abandoned property held by the state and may file a claim with the administrator for return of the property under s. 177.0903, if the value of the abandoned property is over $2,000.
(3)
For any person who is identified in sub. (1) and who is a debtor under sub. (1) (b), the administrator shall set off the abandoned property against the person's debts under s. 71.93 or 71.935. If there is any remaining property after setoff, the administrator shall proceed under sub. (2) (a) or (b).
(4)
Any property paid or delivered to a person under this section is subject to recovery by the administrator as provided in s. 177.1206 and this chapter.
History:  2021 a. 87; 2021 a. 240 s. 30.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0601 - Definition of good faith.

177.0601
Definition of good faith.
In this subchapter, payment or delivery of property is made in good faith if any of the following applies:
(1)
The holder had a reasonable basis for believing, based on the facts then known, that the property was required or permitted to be paid or delivered to the administrator under this chapter.
(2)
The holder made payment or delivery in response to a demand by the administrator or administrator's agent or under guidance or a ruling issued by the administrator that the holder reasonably believed required or permitted the property to be paid or delivered.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0602 - Dormancy charge.

177.0602
Dormancy charge.
(1)
A holder may deduct a dormancy charge from property required to be paid or delivered to the administrator if all of the following apply:
(a)
A valid written contract between the holder and the apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property within a specified time.
(b)
The holder regularly imposes the charge and regularly does not reverse or otherwise cancel or not collect the charge.
(2)
The amount of the deduction under sub. (1) is limited to an amount that is not unconscionable considering all relevant factors, including the marginal transactional costs incurred by the holder in maintaining the apparent owner's property and any services received by the apparent owner.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0603 - Payment or delivery of property to administrator.

177.0603
Payment or delivery of property to administrator.
(1)
Except as otherwise provided in this section, upon filing a report under s. 177.0401, the holder shall pay or deliver to the administrator the property described in the report.
(2)
If property in a report under s. 177.0401 is an automatically renewable deposit and a penalty or forfeiture in the payment of interest would result from paying the deposit to the administrator at the time of the report, the date for payment of the property to the administrator is extended until a penalty or forfeiture no longer would result from payment, if the holder informs the administrator of the extended date.
(3)
After filing the report under s. 177.0401, property in a safe deposit box shall be delivered to the administrator no later than December 1.
(4)
If property reported to the administrator under s. 177.0401 is a security, the administrator may do any of the following:
(a)
Make an endorsement, instruction, or entitlement order on behalf of the apparent owner to invoke the duty of the issuer, its transfer agent, or the securities intermediary to transfer the security.
(b)
Dispose of the security under s. 177.0702.
(5)
If the holder of property reported to the administrator under s. 177.0401 is the issuer of a certificated security, the administrator may obtain a replacement certificate in physical or book-entry form under s. 408.405. An indemnity bond is not required for purposes of this subsection.
(6)
The administrator shall establish procedures for the registration, issuance, method of delivery, transfer, and maintenance of securities delivered to the administrator by a holder.
(7)
An issuer, holder, or transfer agent, or other person acting under this section under instructions of and on behalf of the issuer or holder, is not liable to the apparent owner for, and shall be indemnified by the state against, a claim arising with respect to property after the property has been delivered to the administrator.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0604 - Effect of payment or delivery of property to administrator.

177.0604
Effect of payment or delivery of property to administrator.
(1)
On payment or delivery of property to the administrator under this chapter, the administrator, as agent for the state, assumes custody and responsibility for safekeeping the property. A holder that pays or delivers property to the administrator in good faith and substantially complies with ss. 177.0501 and 177.0502 is relieved of liability arising thereafter with respect to payment or delivery of the property to the administrator.
(2)
This state shall defend and indemnify a holder against liability on a claim against the holder resulting from the payment or delivery of property to the administrator made in good faith and after the holder substantially complied with ss. 177.0501 and 177.0502.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0606 - Property removed from safe deposit box.

177.0606
Property removed from safe deposit box.
Property removed from a safe deposit box and delivered to the administrator is subject to the holder's right to reimbursement for the cost of opening the box and a lien or contract providing reimbursement to the holder for unpaid rent charges for the box. The administrator shall reimburse the holder from payment made by the apparent owner in the process of claiming the safe deposit box or the proceeds remaining after deducting the expense incurred by the administrator in selling the property.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0607 - Income, interest, or gain while in the administrator's custody.

177.0607
Income, interest, or gain while in the administrator's custody.
(1)
If property other than money is delivered to the administrator, the owner is entitled to receive income or gain realized or accrued on the property on or before the date the property is sold.
(2)
Except as provided in subs. (3) and (4), when the administrator pays to a claimant property in the form of money, including property described in sub. (1) that is converted to money, the administrator shall pay simple interest on that money for the period that it was in the custody of the administrator or this state at an annual rate equal to the applicable annual federal long-term rate determined under section 1274 (d) of the Internal Revenue Code in effect on December 31 of the year prior to the year in which the claim is paid.
(3)
Interest shall not accrue:
(a)
On property in the form of money that is less than $100.
(b)
On property recovered by a holder under s. 177.0605.
(c)
Before January 2, 2019, except as provided in sub. (4).
(4)
Property received by the administrator before January 2, 2019, that was interest-bearing to the holder at the time of receipt by the administrator or this state shall accrue interest while in possession of the administrator or this state at a rate of 6 percent per year or any lesser rate the property earned while in the possession of the holder. Interest begins to accrue when the property is delivered to the administrator and ceases on the earlier of the date on which payment is made to the owner or January 1, 2019. If the property is still in the possession of the administrator or this state on January 2, 2019, interest shall accrue as described in sub. (2). No interest on interest-bearing property is payable for any period before December 31, 1984.
History:  2021 a. 87; 2021 a. 240 s. 30.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0608 - Administrator's options as to custody.

177.0608
Administrator's options as to custody.
The administrator may decline to take custody of property reported under s. 177.0401 if the administrator determines that any of the following applies:
(1)
The property has a value less than the estimated expenses of notice and sale of the property.
(2)
Taking custody of the property would be unlawful.
(3)
The property is not subject to custody or escheatment under this chapter.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0609 - Disposition of property having no substantial value; immunity from liability.

177.0609
Disposition of property having no substantial value; immunity from liability.
(1)
If the administrator takes custody of property delivered under this chapter and later determines that the property has no substantial commercial value or that the cost of disposing of the property exceeds the value of the property, the administrator may return the property to the holder or destroy or otherwise dispose of the property.
(2)
An action or proceeding may not be commenced against the state, an agency of the state, the administrator, another officer, employee, or agent of the state, or a holder for or because of an act of the administrator under this section.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0610 - Periods of limitation and repose.

177.0610
Periods of limitation and repose.
(1)
Expiration, before, on, or after November 7, 2021, of a period of limitation on an owner's right to receive or recover property, whether specified by contract or court order, and notwithstanding any law to the contrary, does not prevent the property from being presumed abandoned or affect the duty of a holder under this chapter to file a report or pay or deliver property to the administrator.
(2)
The administrator may not commence an action or proceeding to enforce this chapter with respect to the reporting, payment, or delivery of property reported to the administrator more than 5 years after the holder filed a nonfraudulent report and reported the property under s. 177.0401 to the administrator.
(3)
If a holder is required to file a report under s. 177.0401 and fails to do so, or if a holder files a report but does not report property required to be included with the report under s. 177.0401, the administrator may not commence an action, proceeding, or examination with respect to the reporting, payment, or delivery of the unreported property more than 7 years after the holder's duty to report arose.
(4)
Subsections (1) to (3) do not apply in the case of the filing of a fraudulent report or to any collection action or proceeding under s. 177.1201 or 177.1206.
(5)
For purposes of this section, the administrator and holder may extend any period of limitation by written agreement.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0701 - Public sale of property.

177.0701
Public sale of property.
(1)
Except as provided in ss. 177.0702 and 177.1504, the administrator shall sell abandoned property within 3 years after receiving the property.
(2)
Before selling property under sub. (1), the administrator shall give notice to the public of the date of the sale and include with the notice a reasonable description of the property.
(3)
Except as provided under sub. (4), a sale under sub. (1) shall be to the highest bidder by any of the following means:
(a)
At a public sale at a location in this state that the administrator determines to be the most favorable market for the property.
(b)
On the Internet.
(c)
On another forum that the administrator determines is likely to yield the highest net proceeds.
(4)
The administrator may decline the highest bid at a sale under this section and re-offer the property for sale if the administrator determines the highest bid is insufficient.
(5)
If a sale held under this section is to be conducted other than on the Internet, the administrator shall publish at least one notice of the sale, at least 3 weeks but not more than 5 weeks before the sale, in a newspaper of general circulation in the county in which the property is sold.
History:  2021 a. 87; 2021 a. 240 s. 30.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0702 - Disposal of securities.

177.0702
Disposal of securities.
(1)
Unless the administrator determines that it is in the best interest of this state to do otherwise, the administrator shall hold all securities for at least one year before selling them.
(2)
The administrator may not sell a security listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale. The administrator may sell a security not listed on an established exchange by any commercially-reasonable method.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0703 - Purchaser owns property after sale.

177.0703
Purchaser owns property after sale.
A purchaser of property at a sale conducted by the administrator under this chapter takes the property free of all claims of the owner, a previous holder, a creditor, or a person claiming an interest through the owner or holder. The administrator shall execute documents necessary to complete the transfer of ownership to the purchaser.
History:  2021 a. 87.
2023 Wisconsin Statutes & Annotations › Chapter 177 - Uniform unclaimed property act. › 177.0704 - Military medal or decoration.

177.0704
Military medal or decoration.
(1)
The administrator may not sell a medal or decoration awarded for service in the U.S. armed forces.
(2)
The administrator may deliver a medal or decoration as described under sub. (1) to any of the following entities, with the entity's consent, to hold in custody for the owner:
(a)
An entity organized under section 501 (c) (19) of the Internal Revenue Code.
(b)
The agency that awarded the medal or decoration.
(c)
A governmental entity.
(3)
The administrator is not responsible for the safekeeping of a medal or decoration after it is delivered to an entity under sub. (2).
History:  2021 a. 87.