Negative Reporting – What If I Have No Records to Report?

Danielle Herring
August 19, 2019
If you have no new unclaimed property records for a particular state this filing year, does that mean you are off the hook? Well, not necessarily.
Most states want you to file with them each year. If you’ve reported in the past, they want to hear from you even in the years when you have nothing to report.
This rule applies to District of Columbia, Florida, Georgia, Illinois, Kentucky, Massachusetts and a few other states.
Some states don’t have anything in their laws that say you must file a negative report, but they request a negative report as office policy. For example, Arkansas doesn’t require negative reports but they request one if you are located in or do business in Arkansas or you have reported property to them in the past 3 years. Other states that request rather than require the negative report are Arizona, Indiana, New Hampshire, North Dakota, Oklahoma, Pennsylvania, and Vermont.
A few states specify that negative reporting is only required for certain company types. Delaware only has a negative reporting requirement for financial institutions. Maryland has a requirement that utilities, nursing homes, financial institutions, and insurance companies file a negative report. Wisconsin requires a negative report from financial institutions, utility companies, and life insurance companies.
Believe it or not, there are states on the other end of the spectrum. They would rather not receive negative reports as it creates more administrative hassles than it is worth. This is true for Hawaii and Idaho.
Check with your particular state or software vendor to verify you are following the negative reporting rules.

Take Action

Learn more about the Sovos acquisition of Eagle Technology Management

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.


Danielle Herring

In her role as compliance manager for unclaimed property reporting, Danielle Herring oversees support of the product, researches changes in state unclaimed property laws so the system is updated to comply with them, and tests changes to the system before they are released. Danielle also completes some report and letter processing for current clients, assists with their direct support, provides customer training, and helps with troubleshooting and questions about using the product. Outside of work, Danielle loves to garden and is a master gardener.
Share This Post

LATAM VAT & Fiscal Reporting
May 20, 2020
Sovos Acquires Taxweb, Extends Tax Determination Capabilities in World’s Most Challenging Compliance Landscape

Earlier this month Sovos announced its second acquisition of 2020, completing our solution for Brazil with an unparalleled offering that solves tax compliance in the place where it is most challenging to do so.  Too many companies doing business in Brazil have been burdened by managing multiple point solutions for continuous transaction controls (CTCs), tax […]

Sales & Use Tax United States
May 22, 2020
Making the Case: Seven Benefits of Automating Your Tax Exemption Certificate Management Process

Tax exemption certificate management might not be the topic at the forefront of every executives mind, but if your organization is serious about reducing the risk of adverse audit assessments (including penalties and interest), it’s a process you absolutely have to get right. Manual processes have proven time and time again that they are no […]

Sales & Use Tax United States
May 21, 2020
7 Signs that Your Exemption Certificate Management Process is Putting You at Risk

Maintaining valid tax exemption certificates is one of the more difficult and labor intensive, yet critical, compliance requirements. Doing it correctly and completely is essential to protecting your business from audit exposure. As the tax landscape continues to evolve and grow more complex, managing this process is becoming increasingly difficult and time consuming. Many companies […]

E-Invoicing Compliance EMEA Tax Compliance VAT & Fiscal Reporting
May 21, 2020
Albania’s New Tax Reform: Fiscalization

Following the trailblazing efforts by countries such as Italy, Hungary and Spain, this past year has seen an increase in European countries announcing digital tax control reforms. Earlier this year, Albania joined the ranks of France and Poland by announcing the introduction of a continuous transaction controls (CTC) system, called fiscalization. This scheme requires clearance […]

EMEA IPT Tax Compliance
May 20, 2020
Is COVID-19 Rewriting the Rules for how Insurers Cover Epidemics?

Coronavirus has already immeasurably changed how we live, work, travel and socialise, and the insurance industry is certainly no exception. Looking back, policies agreed at the beginning of this year could never have reasonably taken into account the scale of this pandemic because nothing like this situation has graced the world in living memory. Furthermore, […]