Alaska's Unclaimed Property Act (AS 34.45) requires businesses (profit and non-profit) and government agencies to file an unclaimed property report with the Department of Revenue. To qualify as unclaimed property, an asset must have been unclaimed or uncashed for a certain number of years. An asset is generally money in an account or money owed to an individual, but can also be a security such as stocks, bonds, or mutual funds or safe deposit box contents.
For most types of property (including those for which no time frame is specified in the law) the time frame is 3 years using an "as of" date of June 30 of the current year. Exceptions to the 3 year dormancy can be found under the Reporting Forms link where property types and dormancy periods are listed.
DO NOT SUBMIT NEGATIVE OR ZERO DOLLAR REPORTS
Alaska does not require negative or zero reports to be filed if a business or governmental agency has no unclaimed property.
As a convenience, Alaska will accept reports with last known addresses in other states. The Department will forward the property to the appropriate state. NOTE: You will need to follow the other state's dormancy requirements.
If your organization has a large number of properties for another state, you should file a report with that state.
Reports with 10 or more properties must be processed using NAUPA electronic reporting standards and submitted on diskette or CD. Free software - use the free electronic reporting software hover over the top of the Unclaimed Property Tab at the top of the page.
There are two sections to the Reporting Form. The Verification of Unclaimed Property Form (04-720A) and the Report of Unclaimed Property Form (04-720B). When reporting, please file both forms.