Any business or individual who has custody of abandoned property that belongs to another business or individual is considered to be a "Holder". Any business that takes deposits, issues refunds, has payroll, etc. can be a Holder and must file a report with the Nevada Treasurer's Office annually disclosing any abandoned property. Even if there is no unclaimed property, a "negative report" indicating such must be filed.
An annual report of unclaimed property is required if a Holder meets at least one the following qualifications:
If the business/individual cannot answer 'yes' to at least one qualification, do not file a report.
If you can answer "yes" to any of the qualification, then you need to report, even if there is no property, in the form a Negative Report. To complete this, go to https://holder.nevadaunclaimedproperty.gov/ and create a user account, if you don't already have one. Click on "create a report" where you will find the option to "Start a Negative Report". Enter a few basic pieces of information about the company and submit.
If the answer to any of the following questions is "YES", your business or government agency has the potential for generating unclaimed property and you should be filing a report with the State of Nevada's Unclaimed Property Division:
Annually by October 31st
For more information or general questions, please send e-mail to email@example.com
Nevada Unclaimed Property
Grant Sawyer Building
555 E. Washington Ave, Suite 5200
Las Vegas, Nevada 89101
Phone: (702) 486-4140
Toll Free-Nevada only (800) 521-0019
Walk-In Office Hours: 8am - 5pm Pacific
Phone Hours: 9am - 4pm Pacific
NRS 120A.710 Enforcement. The Administrator may maintain an action in this State or another state to enforce this chapter. The court may award reasonable attorney’s fees to the prevailing party.
(Added to NRS by 2007, 766)
NRS 120A.730 Interest and penalties.
1. A holder who fails to report, pay or deliver property within the time prescribed by this chapter shall pay to the Administrator interest at the rate of 18 percent per annum on the property or value thereof from the date the property should have been reported, paid or delivered.
2. Except as otherwise provided in subsection 3, a holder who fails to report, pay or deliver property within the time prescribed by this chapter or fails to perform other duties imposed by this chapter shall pay to the Administrator, in addition to interest as provided in subsection 1, a civil penalty of $200 for each day the report, payment or delivery is withheld or the duty is not performed, up to a maximum of $5,000.
3. A holder who willfully fails to report, pay or deliver property within the time prescribed by this chapter or willfully fails to perform other duties imposed by this chapter shall pay to the Administrator, in addition to interest as provided in subsection 1, a civil penalty of $1,000 for each day the report, payment or delivery is withheld or the duty is not performed, up to a maximum of $25,000, plus 25 percent of the value of any property that should have been but was not reported.
4. A holder who makes a fraudulent report shall pay to the Administrator, in addition to interest as provided in subsection 1, a civil penalty of $1,000 for each day from the date a report under this chapter was due, up to a maximum of $25,000, plus 25 percent of the value of any property that should have been but was not reported.
5. The Administrator for good cause may waive, in whole or in part, interest under subsection 1 and penalties under subsections 2 and 3, and shall waive penalties if the holder acted in good faith and without negligence.
6. A holder who fails to make a payment as required by subsections 11 and 12 of NRS 120A.560 must be assessed by the Administrator a fee for each such payment in an amount equal to the greater of $50 or 2 percent of the amount of the payment.
Reported unclaimed property can be viewed at: Welcome to the Unclaimed Property Search Portal (nevadaunclaimedproperty.gov)
NRS 120A.560 Report of abandoned property.
1. A holder of property presumed abandoned shall make a report to the Administrator concerning the property.
2. A holder may contract with a third party, including, without limitation, a transfer agent, to make the report required by subsection 1.
3. Whether or not a holder contracts with a third party pursuant to subsection 2, the holder is responsible:
(a) To the Administrator for the complete, accurate and timely reporting of property presumed abandoned;
(b) For paying or delivering to the Administrator the property described in the report; and
(c) For any penalties, interest and fees due pursuant to NRS 120A.730.
4. The report must contain:
(a) A description of the property;
(b) Except with respect to a traveler’s check or money order, the name, if known, and last known address, if any, and the social security number or taxpayer identification number, if readily ascertainable, of the apparent owner of property;
(c) In the case of an amount held or owing under an annuity or a life or endowment insurance policy, the full name and last known address of the annuitant or insured and of the beneficiary;
(d) In the case of property held in a safe-deposit box or other safekeeping depository, an indication of the location of the property and where it may be inspected by the Administrator and any amounts owing to the holder;
(e) The date identified in subsection 1 of NRS 120A.500 from which the length of time required in subsection 1 or 7 of NRS 120A.500 must be measured to determine whether the property is presumed abandoned pursuant to NRS 120A.500 or, if the property is a gift certificate, the date identified in subsection 1 of NRS 120A.520, as applicable; and
(f) Other information that the Administrator by regulation prescribes as necessary for the administration of this chapter.
5. If a holder of property presumed abandoned is a successor to another person who previously held the property for the apparent owner or the holder has changed its name while holding the property, the holder shall file with the report its former names, if any, and the known names and addresses of all previous holders of the property.
6. Except as otherwise provided in subsection 7, the report must be filed before November 1 of each year and cover the 12 months next preceding July 1 of that year.
7. A report with respect to an insurance company must be filed before May 1 of each year for the immediately preceding calendar year.
8. The holder of property presumed abandoned shall send written notice to the apparent owner, not more than 120 days or less than 60 days before filing the report, stating that the holder is in possession of property subject to this chapter if:
(a) The holder has in its records an address for the apparent owner which the holder’s records do not disclose to be invalid and is sufficient to direct delivery of first-class United States mail to the apparent owner; and
(b) The value of the property is $50 or more.
Ê If a holder is required to send written notice to the apparent owner pursuant to this subsection and the apparent owner has consented to receive delivery from the holder by electronic mail, as defined in NRS 41.715, the holder shall send the notice by first-class United States mail to the apparent owner’s last known mailing address, as described in paragraph (a), and by electronic mail, unless the holder believes the apparent owner’s electronic mail address is invalid.
9. Before the date for filing the report, the holder of property presumed abandoned may request the Administrator to extend the time for filing the report. The Administrator may grant the extension for good cause. The holder, upon receipt of the extension, may make an interim payment on the amount the holder estimates will ultimately be due, which terminates the accrual of additional interest on the amount paid.
10. The holder of property presumed abandoned shall file with the report an affidavit stating that the holder has complied with subsection 8.
11. Except as otherwise provided in subsection 12, the holder of property presumed abandoned shall, through a business portal established by the Administrator, electronically file the report and make the payment of the total amount due.
12. The Administrator may waive the requirement to file the report and make the payment electronically for good cause shown by the holder. The holder must request the waiver on or before the deadline established by the Administrator.