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FROM THE BLOG

Filing a Kentucky Unclaimed Funds Report-2024 Instructions

Annual Kentucky Unclaimed Funds Reports are due annually on November 1st.


What are Unclaimed Funds? Unclaimed funds are outstanding items such as unclaimed wages, dividends, credit balances and many other types of outstanding checks and balances payable. A detailed list of accounts that are reportable as unclaimed funds, dormancy periods and Nature of Funds Code is available HERE (see pages 18-19).


Most likely for service based businesses or dental practices this would include credit balances for patients/customers that have remained for 3 years or any wages outstanding for greater than 1 year. A few examples:

  • If a refund check was sent to a patient/customer and never cashed or returned to the office and that credit balance was in the system for 3 years, you'd need to submit those funds with the report.

  • If you paid an employee wages of $50 or more via check and they have not cashed the check for over a year, those funds would be submitted in your unclaimed funds report. (This example assumes your business is holding the uncashed check funds).

Please Note, Zero unclaimed funds reports are not required in Kentucky. You only need to file an unclaimed funds report if you have qualified unclaimed funds.






Who must file an Unclaimed Funds Report?


If they are holding qualified unclaimed funds, all businesses that are located and/or operate in the State of Kentucky, or hold funds due to Kentucky residents, are required to file an Annual Report of Unclaimed Funds. When is the Unclaimed Funds Report Due? Your unclaimed funds report is due by November 1st annually. You can also file an extension.



How do I file?



If you have zero unclaimed funds:

  • You do not need to file an unclaimed funds report in Kentucky.


If you need to submit unclaimed funds:


Online filing for submitting unclaimed funds with payment is available. See the Kentucky Unclaimed Funds website for further instructions




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