NAUPA III Format is Underway

Silvia Jin
September 28, 2020

The National Association of Unclaimed Property Administrator’s (NAUPA) Standard Electronic File Format is a standard set of codes that has been widely used to file unclaimed property reports to states in the US since 1990. The current version, NAUPA II Format, has been used for the past 18 years and is adopted by all 50 states—making electronic reporting more uniform.

However, now  NAUPA III is underway. 

What format will NAUPA III be in?

NAUPA III will probably take XML format. This will enable states to easily add elements and have customized content according to the different state laws and requirements.

Why do I need to use NAUPA III?

Owners and holders will reap the benefits of flexibility from NAUPA III. For example, unclaimed property owners will have a higher probability to claim owed property if the report can include owners’ non-standard addresses or additional identifying information, such as driver’s license information. Multiple deductions will be available on one property according to new IRS and IRA rules.

What is the difference between NAUPA II and NAUPA III?

When the new format is released, you’ll need to learn and adapt to it. And, fortunately, you will have plenty of time. NAUPA III is currently in the programming phase and will have external corrective feedback, NAUPA formal adoption and communication with states before being released.

If Sovos is your unclaimed property software vendor, you will have less of a burden because we will keep up with the changes and make sure your reports meet states’ requirements. If you are not a current Sovos client or if you don’t currently have a software vendor, make sure to pay attention to states’ websites, the NAUPA website and any other resources available online. The more you research, the less likely you are to make mistakes.

Take Action

Get in touch with a Sovos unclaimed property expert to learn more about managing your unclaimed property compliance processes.

Sign up for Email Updates

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


Silvia Jin

Silvia Jin is the Regulatory Specialist of Regulatory Analysis and Design. The core function of her role is to assist in keeping up with changes in unclaimed property regulations, from a national level to the state level. Silvia will also ensure Sovos clients have the best reporting experience possible with a high level of accuracy, validity and timeliness.
Share This Post

Brazil VAT & Fiscal Reporting
March 3, 2021
Sovos Strengthens Complete, Connected Tax Compliance in Brazil with Latest Acquisition

For businesses headquartered or operating in Brazil, the constantly shifting Nota Fiscal compliance regulations are a well-known pain point. The Sistema Público de Escrituração Digital (SPED) reporting rules debuted in 2008 to digitize paper invoices and records, and the rules continue to change frequently, creating complexity and risk. These difficulties are deepened for businesses that […]

North America Sales & Use Tax
March 4, 2021
Switching vs. suffering: Sales and use tax pain is avoidable

As one of the more complicated administrative aspects of a retail business, sales and use tax filing processes are ripe for re-evaluation. Begin by asking yourself questions such as: Does my current solution do enough to make my life simpler? Do I get more out of it than I am putting in? More in the […]

North America Sales & Use Tax
March 4, 2021
How Marjam Building Supply solved sales and use tax

Almost two decades ago when Bruce Respler joined Marjam Building Supply, one of the largest distributors of building materials on the East Coast, he was in charge of calculating and filing sales taxes manually. The company, which now owns 40 lumberyards, was only selling into a few states at the time. But even then, the […]

EMEA VAT & Fiscal Reporting
March 3, 2021
UK’s Making Tax Digital – 1 April Brings End to Soft Landing Period

Since April 2019, the UK has required the submission of VAT returns and the storage of VAT records to be completed in accordance with the requirements of its Making Tax Digital (MTD) regulations. One of these requirements is that data transfer between software programs be achieved through ‘digital links.’ This requirement was initially waived during […]

EMEA VAT & Fiscal Reporting
March 2, 2021
OSS and the EU E-Commerce Package: What you need to know about the upcoming changes

The e-commerce package is due to be introduced on 1 July 2021 having previously been delayed from 1 January 2021 due to the COVID-19 pandemic. COVID-19 is far from resolved with many Member States still suffering significantly with wide-ranging restrictions in place in many countries. Regardless, the European Commission’s current plan is to press ahead […]