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The Louisiana Up 1 form is an essential document for businesses and organizations that need to report unclaimed property to the state. This form is specifically designed for holders of unclaimed property, which may include financial accounts, stocks, or other assets that have remained inactive for a specified period. To ensure compliance, it must be submitted annually by November 1, although if the due date falls on a weekend or holiday, the submission is due on the next business day. The form requires detailed information, including the holder's name, address, contact details, and federal ID number. Additionally, it prompts the reporting entity to confirm whether they filed a report in the previous year and to provide explanations if they did not. The form also includes sections for remittance, where holders must calculate and report the total amount due, including any interest or penalties. Finally, the form concludes with an official verification section, where a designated representative must sign, affirming the accuracy and completeness of the report. This process not only facilitates transparency but also helps ensure that unclaimed assets are appropriately managed and returned to their rightful owners.
Louisiana Up 1 Example
Rev. 02/2013 |
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State of Louisiana |
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Department of the Treasury |
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Unclaimed Property Division |
This form may |
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P.O. Box 91010 |
be reproduced |
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Baton Rouge, LA |
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(225) |
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LOUISIANA REPORT OF UNCLAIMED PROPERTY VERIFICATION |
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Report Year: __________________________________ Period Covered: _________________ to ________________
FILE BEFORE NOVEMBER 1.
If the due date falls on a weekend or holiday, the report is due on the next business day and becomes delinquent on the first day thereafter.
Holder Account Number |
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(If Known) |
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Holder Name: |
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Address 1: |
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Address 2: |
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City, State, Zip: |
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Contact Person: |
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Telephone Number: |
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Fax Number: |
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Email Address: |
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Federal ID Number: |
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State of Incorporation: |
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Date of Incorporation: |
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Primary Business Activity: |
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Did you file a report of |
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Unclaimed Property last year? |
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NO |
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If NO, please explain: |
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If you are the successor to a previous holder of the property, or if you have changed your name or address, please make corrections and list your previous name below:
Previous Name:
Previous Address:
Previous City, State, Zip:
YOUR REMITTANCE MUST ACCOMPANY THIS REPORT
PLEASE MARK ONE: |
Annual Report (DUE NOVEMBER 1) |
Supplemental/Additional Report |
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Total Amount Due From Last Page: |
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$ |
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Interest: |
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$ |
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Penalty: |
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$ |
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Total Remittance: |
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$ |
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Total Number of Shares of Stock: |
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OFFICIAL VERIFICATION OF REPORT
I, __________________________________, hereby declare, under penalty of perjury, that to the best of my knowledge
and belief, the following documentation contain a full, true, and complete report consisting of ____ page(s) totaling
$____________ regarding to the property presumed abandoned, remitted with this documentation, under the
provisions of La. R.S.
I further declare that this documentation contains complete and accurate information pertaining to the
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Signature of Official |
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Documents used along the form
When dealing with unclaimed property in Louisiana, the UP-1 form serves as a critical document for reporting. However, several other forms and documents are often used in conjunction with it to ensure compliance and facilitate the process. Below is a list of these documents, each playing a significant role in the unclaimed property reporting process.
- UP-2 Form: This form is used for reporting additional or supplemental unclaimed property after the initial UP-1 submission. It allows holders to correct or add information that may have been overlooked in the original report.
- Holder’s Report of Unclaimed Property Instructions: This document provides detailed guidelines on how to complete the UP-1 form. It includes information on deadlines, required information, and common pitfalls to avoid.
- Affidavit of Claim: This affidavit is used by individuals or entities claiming ownership of property reported as unclaimed. It serves as a formal declaration that the claimant is entitled to the property in question.
- Verification of Ownership Documentation: Holders may need to provide supporting documents that verify ownership of the unclaimed property. This can include account statements, transaction records, or other relevant documentation.
- Power of Attorney Form: A crucial legal document that allows one individual to make decisions on behalf of another, particularly in financial matters. For more information, visit arizonapdfforms.com/power-of-attorney/.
- Payment Remittance Form: This form accompanies the UP-1 report and outlines the total amount due for remitted unclaimed property. It details any penalties or interest associated with late payments.
- State-Specific Reporting Guidelines: Each state may have its own set of guidelines regarding unclaimed property reporting. This document outlines Louisiana’s specific requirements, including any variations from federal regulations.
Understanding these additional forms and documents can streamline the reporting process and ensure compliance with Louisiana's unclaimed property laws. Each document serves a distinct purpose, and together they create a comprehensive framework for managing unclaimed assets effectively.
Key takeaways
Filling out and using the Louisiana Up 1 form is an important process for reporting unclaimed property. Here are some key takeaways to keep in mind:
- Deadline Awareness: Always remember to file the report before November 1. If this date falls on a weekend or holiday, your report is due the next business day.
- Accurate Information: Ensure all fields are filled out accurately, including your name, address, and contact information. This helps avoid any delays in processing.
- Previous Year’s Report: Indicate whether you filed a report last year. If not, provide a brief explanation to clarify your situation.
- Remittance Required: Your remittance must accompany the report. Make sure to calculate the total amount due, including any interest or penalties.
- Verification Statement: The form requires a declaration under penalty of perjury. Be sure to read this section carefully and ensure the information is complete and accurate.
- Interest Bearing Properties: Clearly indicate whether each unit of remitted property bears interest. Mislabeling can lead to complications.
- Successor Information: If you are the successor to a previous holder, provide the previous name and address. This helps maintain accurate records.
- Contact Information: Include a reliable contact person’s information. This ensures that the Unclaimed Property Division can reach you if there are questions or issues.
By keeping these points in mind, you can navigate the process of completing and submitting the Louisiana Up 1 form more effectively.