This page addresses key areas of interest regarding Wyoming unclaimed property and escheatment laws and regulations.
Key Wyoming Unclaimed Property Reporting Deadlines
Wyoming, like many states, has a fall deadline for annual reporting and remittance with reports due prior to November 1st of each year.
Requests for early reporting must be submitted in writing and may be permitted with the consent of the unclaimed property director. Due diligence must have already been performed and justification must be provided for reporting and remitting prior to the abandonment date. Negative reports are not required and will not be accepted.
Electronic reporting is required when reporting 10 or more properties
All holders have an obligation to report abandoned or unclaimed property to the state in order to maintain compliance with Wyoming’s unclaimed property laws and regulations.
Wyoming Due Diligence Requirements
Wyoming requires holders to send due diligence notifications for any property with a value of $50 or more within 120 days of the filing due date.
This notice should inform the owner of the nature of the property and how to recover it, and also inform the owner that the property will be turned over to the state unless the owner claims it from the holder before the escheat report is filed.
Wyoming Dormancy Periods
Dormancy periods in Wyoming vary by property type. Generally, most property types have a 5 year dormancy period. Accounts are considered dormant if the owner of a property has not indicated any interest in the property or if no contact has been made for the allotted dormancy period for that property. Dormancy periods in Wyoming for common property types include:
- Wages, Payroll or Salary: 1 year
- Safety Deposit Box Contents: 5 years
- Money Orders: 7 years
Wyoming Unclaimed Property Links
What Are the Holes in Your Unclaimed Property Process?
Answer 8 questions to understand your level of unclaimed property risk in as little as 30 secondsWhat's My Risk?
Key Unclaimed Property Reporting FAQs
The unclaimed property reporting process can be challenging for holders in Wyoming and other states. Does your organization have questions about state unclaimed property laws and requirements? Click on the link below for frequently asked questions regarding unclaimed property reporting and compliance.
Confused or Overwhelmed? Need Answers?
Reporting unclaimed property in Wyoming and other jurisdictions can be a stressful process that consumes valuable internal resources. However, when properly managed, the annual reporting and escheatment process does not need to be a burdensome experience.
Contact Keane for assistance in guiding your organization on the path to unclaimed property compliance, or visit our resource library for additional educational and operational resources.