Procedures

Reporting Unclaimed Gift Obligations

Law change:
Gift certificates sold on or after 12/31/2011, by a single issuer who in the past calendar year sold no more than $250,000.00 in face value of gift certificates, are not required to be reported as unclaimed property.

Holder Report Deadline: May 1, 2015

The Holder's Report for gift obligations/stored value cards must be filed before May 1st of each year and cover the 12 months next preceding January 1st of that year. The May 2014 report should include gift obligations with a last activity date of December 31, 2011 or earlier.

REPORTING PERIOD REPORT & REMITTANCE DUE
JANUARY 1, 2013 -
DECEMBER 31, 2014
MAY 1, 2015

Reporting/Remitting Accounts

Holders must remit unclaimed property at 60% of face value or remaining balance. (If fees or charges were deducted, holders must remit 100%.) NOTE: Effective September 17, 2005 maintenance fees and service charges are no longer allowed on gift obligations or stored value cards. Read 33 M.R.S.A.S 1953 (G)

Request a Reimbursement

Even after a Gift Obligation has been reported to the state, the business that sold it must honor it and apply for a refund from the Treasurer's Office.