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This document outlines the guidelines and provisions related to unclaimed property under the Uniform Unclaimed Property Act in Wisconsin. It details the definition of unclaimed property, the responsibilities of holders, the process of reporting and claiming such property, the presumption of abandonment, and the role of the administrator in managing and reclaiming unclaimed property.

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What is unclaimed property act?

The Unclaimed Property Act is a law that governs the handling of financial assets that have not been claimed by their rightful owners for a specified period of time, typically including items such as bank accounts, insurance policies, and uncashed checks.

Who is required to file unclaimed property act?

Businesses, financial institutions, and other entities that hold property that has not been claimed by its owner for a certain period are required to file reports under the Unclaimed Property Act.

How to fill out unclaimed property act?

To fill out the Unclaimed Property Act, entities must provide detailed information about the unclaimed property, including the owner's last known address, the type of property, and its value, and submit the report to the appropriate state agency.

What is the purpose of unclaimed property act?

The purpose of the Unclaimed Property Act is to protect consumers by ensuring that unclaimed assets are properly managed and returned to rightful owners or, if unclaimed, transferred to the state for public use.

What information must be reported on unclaimed property act?

The information that must be reported includes the owner's name, last known address, description of the property, date of last transaction, and the amount or value of the unclaimed property.

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