SB756,19,3
1(13) Property not specified in this section or ss. 177.0202 to 177.0209, the
2earlier of 5 years after the owner first has a right to demand the property or the date
3on which the obligation to pay or distribute the property arises.
SB756,51 4Section 51. 177.0202 of the statutes is created to read:
SB756,19,9 5177.0202 When tax-deferred retirement account presumed
6abandoned. (1)
Subject to s. 177.0210, property held in a pension account or
7retirement account that qualifies for federal income tax deferral under the Internal
8Revenue Code is presumed abandoned if it is unclaimed by the apparent owner 3
9years after the earliest of the following:
SB756,19,1310 (a) The date on which a 2nd consecutive communication sent by the holder by
111st class mail to the apparent owner is returned to the holder by the U.S. postal
12service as undeliverable, if the apparent owner has reached the age for which an
13early withdrawal penalty does not apply.
SB756,19,1814 (b) If the 2nd communication is sent by the holder to the apparent owner later
15than 30 days after the date on which the first communication is returned to the
16holder by the U.S. postal service as undeliverable, the date on which the first
17communication was returned as undeliverable, if the apparent owner has reached
18the age for which an early withdrawal penalty does not apply.
SB756,19,2019 (c) The date on which the apparent owner becomes 70.5 years of age, if that can
20be determined by the holder.
SB756,19,2221 (d) Any of the following, if distribution to avoid a tax penalty is required under
22the Internal Revenue Code:
SB756,19,2423 1. The date on which the holder receives confirmation of the death of the
24apparent owner in the ordinary course of the holder's business.
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12. The date on which the holder confirms the death of the apparent owner under
2sub. (2).
SB756,20,6 3(2) If a holder in the ordinary course of its business receives notice or an
4indication of the death of an apparent owner and sub. (1) (c) or (d) applies, the holder
5shall attempt not later than 90 days after receipt of the notice or indication to confirm
6whether the apparent owner is deceased.
SB756,20,12 7(3) If the holder does not send communications to the apparent owner by 1st
8class mail, as described in sub. (1), the holder shall attempt to confirm the apparent
9owner's interest in the property by sending the apparent owner e-mail not later than
102 years after the apparent owner's last indication of interest in the property, except
11that the holder shall promptly attempt to contact the apparent owner by 1st class
12mail if any of the following applies:
SB756,20,1513 (a) The holder does not have information needed to send the apparent owner
14e-mail or the holder believes that the apparent owner's e-mail address in the
15holder's records is not valid.
SB756,20,1616 (b) The holder receives notification that the e-mail was not received.
SB756,20,1817 (c) The apparent owner does not respond to the e-mail within 30 days from the
18date on which the e-mail was sent.
SB756,20,21 19(4) If 1st class mail sent under sub. (3) is returned to the holder by the U.S.
20postal service as undeliverable, the property is presumed abandoned 3 years after
21the date on which the mail is returned.
SB756,52 22Section 52. 177.0203 of the statutes is created to read:
SB756,21,4 23177.0203 When other tax-deferred account presumed abandoned.
24Subject to s. 177.0210, and except for property described under s. 177.0202 and
25property held in a plan described in section 529A of the Internal Revenue Code,

1property held in an account or plan, including a health savings account, that
2qualifies for federal income tax deferral under the Internal Revenue Code is
3presumed abandoned if it is unclaimed by the apparent owner 3 years after the
4earliest of the following:
SB756,21,7 5(1) The date specified under the Internal Revenue Code or by federal regulation
6by which the distribution of property must begin in order to avoid a penalty, if no such
7distribution has been made.
SB756,21,8 8(2) Thirty years after the date on which the account was opened.
SB756,53 9Section 53. 177.0204 of the statutes is created to read:
SB756,21,14 10177.0204 When custodial account for a minor presumed abandoned.
11(1)
Subject to s. 177.0210, property held in an account established under any state's
12uniform gifts to minors act or uniform transfers to minors act is presumed abandoned
13if it is unclaimed by or on behalf of the minor on whose behalf the account was opened
143 years after the earliest of the following:
SB756,21,1715 (a) The date on which a 2nd consecutive communication sent by the holder by
161st class mail to the minor's custodian is returned to the holder by the U.S. postal
17service as undeliverable.
SB756,21,2118 (b) If the 2nd communication is sent by the holder to the minor's custodian later
19than 30 days after the date on which the first communication is returned to the
20holder by the U.S. postal service as undeliverable, the date on which the first
21communication was returned as undeliverable.
SB756,21,2422 (c) The date on which the minor's custodian is required to transfer the property
23to the minor or the minor's estate in accordance with the uniform gifts to minors act
24or uniform transfers to minors act of the state in which the account was opened.
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1(2) If the holder does not send communications to the custodian by 1st class
2mail, as described in sub. (1), the holder shall attempt to confirm the custodian's
3interest in the property by sending the custodian e-mail not later than 2 years after
4the custodian's last indication of interest in the property, except that the holder shall
5promptly attempt to contact the custodian by 1st class mail if any of the following
6applies:
SB756,22,97 (a) The holder does not have information needed to send the custodian e-mail
8or the holder believes that the custodian's e-mail address in the holder's records is
9not valid.
SB756,22,1010 (b) The holder receives notification that the e-mail was not received.
SB756,22,1211 (c) The custodian does not respond to the e-mail within 30 days from the date
12on which the e-mail was sent.
SB756,22,15 13(3) If 1st class mail sent under sub. (2) is returned to the holder by the U.S.
14postal service as undeliverable, the property is presumed abandoned 3 years after
15the date on which the mail is returned.