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AB752,30,3
1(2) The records of the holder do not reflect the identity or last-known address
2of the apparent owner, but the administrator has determined that the last-known
3address of the apparent owner is in this state.
AB752,30,6 4(3) The records of the holder do not reflect the identity of the apparent owner,
5but the records of the holder do reflect that the last-known address of the apparent
6owner is in this state.
AB752,65 7Section 65. 177.0303 of the statutes is created to read:
AB752,30,13 8177.0303 If records show multiple addresses of apparent owner. (1)
9Except as provided in sub. (2), if records of a holder reflect multiple addresses for an
10apparent owner and this state is the state of the most recently recorded address, the
11property is subject to reporting to and custody of this state and the administrator
12may take custody of property presumed abandoned, whether located in this state or
13another state.
AB752,30,18 14(2) If it appears from records of the holder that the most recently recorded
15address of the apparent owner under sub. (1) is a temporary address and this state
16is the state of the next most recently recorded address that is not a temporary
17address, the property is subject to reporting to and custody of this state and the
18administrator may take custody of the property presumed abandoned.
AB752,66 19Section 66. 177.0304 of the statutes is created to read:
AB752,30,25 20177.0304 Holder domiciled in this state. (1) Except as provided in sub. (2)
21or s. 177.0302 or 177.0303, property presumed abandoned is subject to reporting to
22and custody of this state and the administrator may take custody of property
23presumed abandoned, whether located in this state, another state, or a foreign
24country, if the holder is domiciled in this state or is this state or a governmental
25subdivision, agency, or instrumentality of this state, and any of the following applies:
AB752,31,3
1(a) Another state or foreign country is not entitled to the property because there
2is no last-known address of the apparent owner or other person entitled to the
3property in the records of the holder.
AB752,31,64 (b) The state or foreign country of the last-known address of the apparent
5owner or other person entitled to the property does not provide for custodial taking
6of the property.
AB752,31,9 7(2) Property is not subject to the custody of the administrator under sub. (1)
8if the property is specifically exempt from custodial taking under the laws of this
9state or the state or foreign country of the last-known address of the apparent owner.
AB752,31,13 10(3) If a holder's state of domicile has changed since the time the property was
11presumed abandoned, the holder's state of domicile for purposes of this section is
12deemed to be the state where the holder was domiciled at the time the property was
13presumed abandoned.
AB752,67 14Section 67. 177.0305 of the statutes is created to read:
AB752,31,19 15177.0305 Custody if transaction took place in this state. Except as
16provided in ss. 177.0302, 177.0303, or 177.0304, property presumed abandoned is
17subject to reporting to and custody of this state and the administrator may take
18custody of property presumed abandoned whether located in this state or another
19state if any of the following applies:
AB752,31,20 20(1) The transaction out of which the property arose took place in this state.
AB752,31,24 21(2) The holder is domiciled in a state that does not provide for the custodial
22taking of the property, except that if the property is specifically exempt from
23custodial taking under the law of the state of the holder's domicile, the property is
24not subject to the custody of the administrator.
AB752,32,5
1(3) The last-known address of the apparent owner or other person entitled to
2the property is unknown or in a state that does not provide for the custodial taking
3of the property, except that if the property is specifically exempt from custodial
4taking under the law of the state of the last-known address, the property is not
5subject to the custody of the administrator.
AB752,68 6Section 68. 177.0306 of the statutes is created to read:
AB752,32,10 7177.0306 Travelers check, money order, or similar instrument. Sums
8payable on a travelers check, money order, or similar instrument presumed
9abandoned are subject to reporting to and custody of this state and the administrator
10may take custody of such sums to the extent permitted under 12 U.S.C. 2501 to 2503.
AB752,69 11Section 69. 177.0307 of the statutes is created to read:
AB752,32,15 12177.0307 Virtual currency. Virtual currency presumed abandoned is subject
13to reporting and custody of this state if the holder is able to convert virtual currency
14to U.S. currency by sale, exchange, or any other disposition. The holder shall convert
15the virtual currency to U.S. currency for delivery to the administrator.
AB752,70 16Section 70. 177.0308 of the statutes is created to read:
AB752,32,21 17177.0308 Hazardous or dangerous items found in safe deposit box.
18Thirty days prior to delivery of any hazardous or dangerous items such as guns,
19chemicals, or explosives under s. 177.0205, the holder shall provide written notice
20to the administrator and deliver the hazardous or dangerous items as required by
21the administrator.
AB752,71 22Section 71. 177.04 of the statutes is repealed.
AB752,72 23Section 72 . Subchapter IV (title) of chapter 177 [precedes 177.0401] of the
24statutes is created to read:
AB752,32,2525 CHAPTER 177
AB752,33,1
1SUBCHAPTER iV
AB752,33,22 report by holder
AB752,73 3Section 73. 177.0401 of the statutes is created to read:
AB752,33,6 4177.0401 Report required by holder. (1) (a) A holder of property presumed
5abandoned and subject to the custody of the administrator shall report in a record
6to the administrator concerning the property.
AB752,33,87 (b) A holder shall report electronically in a format approved by the
8administrator, unless the administrator approves another method.
AB752,33,10 9(2) A holder may contract with a 3rd party to make the report required under
10sub. (1).
AB752,33,14 11(3) Regardless of whether a holder enters into a contract under sub. (2), the
12holder is responsible to the administrator for the complete, accurate, and timely
13reporting of property presumed abandoned and for paying or delivering the property
14described in the report to the administrator.
AB752,74 15Section 74. 177.0402 of the statutes is created to read:
AB752,33,21 16177.0402 Content of report. (1) The report required under s. 177.0401 shall
17be signed by or on behalf of the holder and verified as to its completeness and
18accuracy and be in a secure format, as approved by the administrator, that protects
19the apparent owner's confidential information in the same manner as is required of
20the administrator and administrator's agent under subch. IX. The report shall
21contain the following information:
AB752,33,2222 (a) A description of the property.
AB752,34,223 (b) Unless the property is a travelers check, money order, or similar
24instrument, the name, last-known address, social security number or taxpayer

1identification number, and date of birth of the property's apparent owner, if such
2information is known or readily ascertainable.
AB752,34,63 (c) For an amount held or owing under a life or endowment insurance policy or
4annuity contract, the name, social security number or taxpayer identification
5number, if known, date of birth, if known, and last-known address of the insured,
6annuitant, or other apparent owner of the policy or contract and of each beneficiary.
AB752,34,107 (d) For property held in or removed from a safe deposit box or other safekeeping
8repository or for other tangible personal property, an itemized inventory and
9description of the property, including the location of the property where it may be
10inspected by the administrator and any amounts owed to the holder.
AB752,34,1111 (e) The commencement date for determining abandonment under subch. II.
AB752,34,1312 (f) A statement that the holder has complied with the notice requirements of
13s. 177.0501.
AB752,34,1414 (g) Any other information prescribed by the administrator.
AB752,34,16 15(2) A report under s. 177.0401 may include in the aggregate items valued under
16$5 each only if the apparent owner is unknown.
AB752,34,19 17(3) A report under s. 177.0401 may include personal information, as defined
18in s. 177.1401 (1), about the apparent owner or the apparent owner's property to the
19extent not otherwise prohibited by federal law.
AB752,34,24 20(4) If a holder has changed the holder's name while holding property presumed
21abandoned or is a successor to another person that previously held the property for
22the apparent owner, the holder shall include in the report under s. 177.0401 the
23holder's former name or the name of the previous holder, if any, and the known name
24and address of each previous holder of the property.
AB752,75 25Section 75. 177.0403 of the statutes is created to read:
AB752,35,3
1177.0403 When report to be filed. (1) Subject to sub. (2), the report under
2s. 177.0401 shall be filed on or before November 1 of each year and cover the 12
3months preceding July 1 of that year.
AB752,35,7 4(2) Before the due date for filing the report under s. 177.0401, the holder of
5property presumed abandoned may request the administrator to extend the time for
6filing. The administrator may grant an extension of 60 days or other period agreed
7to by the administrator.
AB752,76 8Section 76. 177.0404 of the statutes is created to read:
AB752,35,12 9177.0404 Retention of records by holder. (1) A holder required to file a
10report under s. 177.0401 shall retain records for 10 years after the later of the date
11on which the report was filed or the last date on which a timely report was due to be
12filed, unless a shorter period is prescribed by rule by the administrator.
AB752,35,14 13(2) The holder may satisfy the requirement to retain records under this section
14through an agent.
AB752,35,15 15(3) The records retained under this section shall include the following:
AB752,35,1616 (a) The information required to be included in the report under s. 177.0401.
AB752,35,1817 (b) The date, place, and nature of the circumstances that gave rise to the
18property right.
AB752,35,1919 (c) The amount or value of the property.
AB752,35,2020 (d) The last address of the apparent owner, if known to the holder.
AB752,35,2421 (e) If the holder sells, issues, or provides to others for sale or issue in this state
22travelers checks, money orders, or similar instruments, other than 3rd-party bank
23checks, on which the holder is directly liable, a record of the instruments while they
24remain outstanding, indicating the state and date of issue.
AB752,77 25Section 77. 177.0405 of the statutes is created to read:
AB752,36,4
1177.0405 Property reportable and payable or deliverable absent
2owner demand.
Property is reportable and payable or deliverable under this
3chapter even if the owner fails to make demand or present an instrument or
4document otherwise required to obtain payment.
AB752,78 5Section 78. 177.0406 of the statutes is created to read:
AB752,36,8 6177.0406 Negative reporting. (1) The administrator may require any
7person or persons to file a report as otherwise prescribed in this section, except that
8the administrator may specify a deadline after the deadline specified in s. 177.0403.
AB752,36,11 9(2) The administrator may require any person to file a report even if the person
10believes the person is not in possession of any property reportable or deliverable
11under this chapter.
AB752,79 12Section 79. 177.05 of the statutes is repealed.
AB752,80 13Section 80 . Subchapter V (title) of chapter 177 [precedes 177.0501] of the
14statutes is created to read:
AB752,36,1515 CHAPTER 177
AB752,36,1616 SUBCHAPTER V
AB752,36,1717 notice to apparent owner of
AB752,36,1818 property presumed abandoned
AB752,81 19Section 81. 177.0501 of the statutes is created to read:
AB752,36,24 20177.0501 Notice to apparent owner by holder. (1) Subject to sub. (2), the
21holder of property presumed abandoned shall send to the apparent owner notice by
221st class mail that complies with s. 177.0502, in a format acceptable to the
23administrator, not more than 120 days nor less than 60 days before filing the report
24under s. 177.0401, if all of the following apply:
AB752,37,3
1(a) The holder has in the holder's records an address for the apparent owner
2that the records do not indicate to be invalid and that is sufficient to direct the
3delivery of 1st class mail to the apparent owner.
AB752,37,44 (b) The value of the property is $50 or more.
AB752,37,8 5(2) If an apparent owner has consented to receive e-mail delivery from the
6holder, the holder shall send the notice described in sub. (1) both by 1st class mail to
7the apparent owner's last-known mailing address and by e-mail, unless the holder
8believes that the apparent owner's e-mail address is invalid.
AB752,82 9Section 82. 177.0502 of the statutes is created to read:
AB752,37,14 10177.0502 Contents of notice by holder. (1) Notice under s. 177.0501 shall
11contain a heading that reads substantially as follows: “Notice. The State of
12Wisconsin requires us to notify you that your property may be transferred to the
13custody of the state's unclaimed property administrator if you do not contact us
14before (the date that is 30 days after the date of the notice).”
AB752,37,15 15(2) The notice under s. 177.0501 shall do all of the following:
AB752,37,1716 (a) Identify the nature and, except for property that does not have a fixed value,
17the value of the property that is the subject of the notice.
AB752,37,1818 (b) State that the property will be turned over to the administrator.
AB752,37,2019 (c) State that after the property is turned over to the administrator an apparent
20owner that seeks return of the property shall file a claim with the administrator.
AB752,37,2121 (d) State that property may be sold by the administrator.
AB752,37,2322 (e) Provide instructions that the apparent owner shall follow to prevent the
23holder from reporting and paying or delivering the property to the administrator.
AB752,83 24Section 83. 177.0503 (2n) of the statutes is created to read:
AB752,38,3
1177.0503 (2n) (a) The administrator may publish, on behalf of the department
2of children and families, the name and address of an apparent owner of uncashed
3child support payments.
AB752,38,64 (b) At least quarterly, the department of children and families shall reimburse
5the administrator, based on information provided by the administrator, for any
6administrative expenses incurred under par. (a).
AB752,84 7Section 84. 177.0504 of the statutes is created to read:
AB752,38,15 8177.0504 Cooperation among state officers and agencies to locate
9apparent owners.
Unless otherwise prohibited by law, at the request of the
10administrator, each officer, agency, board, commission, division, or department of
11this state, any body politic or corporate created by this state for a public purpose, and
12each political subdivision of this state shall make its books and records available to
13the administrator and cooperate with the administrator to determine the current
14address of an apparent owner of property held by the administrator under this
15chapter.
AB752,85 16Section 85. 177.0505 of the statutes is created to read:
AB752,38,19 17177.0505 Tax return identification of apparent owners. (1) Annually,
18before July 1, the administrator shall determine if either of the following applies to
19any apparent owner of abandoned property under s. 177.0503:
AB752,38,2120 (a) The apparent owner has filed a tax return in the 14 months preceding the
21determination.
AB752,38,2222 (b) The apparent owner is a debtor under s. 71.93 or 71.935.
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