Chapter 177, UNIFORM UNCLAIMED PROPERTY ACT

177.0703 Purchaser owns property after sale. A purchaser of property at a sale conducted by the administrator under this chapter takes the property free of all claims of the owner, a previous holder, a creditor, or a person claiming an interest through the owner or holder. The ad…

177.0704 Military medal or decoration. (1) The administrator may not sell a medal or decoration awarded for service in the U.S. armed forces. (2) The administrator may deliver a medal or decoration as described under sub. (1) to any of the following entities, with the entity’s co…

177.0801 Deposit of funds by administrator. (1) Except as provided in sub. (2), the administrator shall deposit in the common school fund all funds received under this chapter, including proceeds from the sale of property under subch. VII and amounts received from the redemption …

177.0802 Administrator to retain records of property. The administrator shall do all of the following: (1) Record the name, last-known address, social security number or taxpayer identification number, and date of birth of each person shown on a report filed under s. 177.0401 to …

177.0901 Claim of another state to recover property. (1) If the administrator knows that property held by the administrator under this chapter is subject to a superior claim of another state, the administrator shall report and pay or deliver the property to the other state or ret…

177.0902 When property subject to recovery by another state. (1) Property held under this chapter by the administrator is subject to the right of another state to take custody of the property if any of the following applies: (a) The property was paid or delivered to the administr…

177.0903 Claim for property by person claiming to be owner. (1) A person claiming to be the owner of property held under this chapter by the administrator may file a claim for the property on a form prescribed by the administrator. The claimant shall verify the claim as to its co…

177.0904 When administrator must honor claim for property. (1) (a) The administrator shall pay or deliver property to a claimant under s. 177.0903 (1) if the administrator receives evidence sufficient to establish to the satisfaction of the administrator that the claimant is the …

177.0905 Allowance of claim for property. (1) Not later than 30 days after a claim is allowed under s. 177.0904 (2), the administrator shall pay or deliver the property to the owner or pay to the owner the net proceeds of a sale of the property, together with interest, income, or…

177.0906 Action by person whose claim is denied. (1) A person aggrieved by a claim denial of the administrator or whose claim has not been acted upon within 90 days after its filing may petition for judicial review of the decision or of the claim under s. 227.52, notwithstanding …

177.0907 Claim to recover abandoned U.S. savings bond. Notwithstanding s. 177.1504, any person who could have claimed an interest in a U.S. savings bond immediately before this state became the owner of the U.S. savings bond pursuant to a judgment entered under s. 177.1504 (4) ma…

177.1001 Verified report of property. If a person does not file a report required under s. 177.0401 or the administrator believes that a person may have filed an inaccurate, incomplete, or false report, the administrator may require the person to file a verified report in a form …

177.1002 Requests for reports and examination of records. (1) The administrator, at reasonable times and upon reasonable notice, may examine the records of any person to determine whether the person has complied with this chapter. The administrator may authorize an agent, under w…

177.1003 Records obtained in examination. Records obtained and records, including work papers, compiled by the administrator in the course of conducting an examination under s. 177.1002: (1) Are subject to the confidentiality and security provisions of subch. XIV and are not publ…

177.1004 Failure of person to maintain records. If a holder fails to maintain the records required under s. 177.0404, and the records of the holder available for the periods subject to this chapter are insufficient to permit the preparation of a report, a court may determine the …

177.1005 Administrator’s contract with another to conduct examination. (1) Except as provided in subs. (2) and (3), the administrator may not enter into a contract or other agreement to allow any person to engage in an audit on a contingent fee basis of another person’s documents…

177.1101 Default assessment. When any person fails, neglects, or refuses to file a report by the deadline prescribed by this chapter, the administrator may, notwithstanding ss. 177.1001 and 177.1002, petition a court to determine the liability of such holder based on the court’s …

177.1102 Notice of assessment. The administrator shall notify a person in writing of any assessment under this chapter. The administrator shall serve that notice as provided in s. 73.03 (73m). If the person is a corporation and the administrator is unable to serve that corporatio…

177.1103 Appeal of assessment. The appeal provisions under ss. 71.88 (1) (a) and (2) (a), 71.89, 71.90, 73.01 (1), (2), (3), (4), and (4m), and 73.015, as they apply to a taxpayer and the department of revenue and consistent with this chapter, shall apply to the person or holder …

177.1104 Penalties. The provisions of ss. 177.1204 and 177.12045 (1) shall apply to an amount due as determined and assessed under this chapter. History: 2021 a. 87; 2025 a. 112. UNCLAIMED PROPERTY ACT SUBCHAPTER XII ENFORCEMENT

177.1201 Enforcement. (1) An assessment under this chapter that becomes final and is not subject to administrative or judicial review is subject to action and collection by the administrator under ss. 71.91, 71.92, and 73.03 (9), (20), (27), (28), (33m), and (33p) consistent with…

177.1202 Interstate and international agreement; cooperation. (1) Subject to sub. (2), the administrator may do all of the following: (a) Exchange information with another state or foreign country relating to property presumed abandoned or relating to the possible existence of pr…

177.1203 Action involving another state or foreign country. (1) The administrator may join another state or foreign country to examine the records of a putative holder and seek enforcement of this chapter against a putative holder. (2) At the request of another state or a foreign…

177.1204 Holder penalties. (1) FAILURE TO FILE A REPORT. (a) Any person who fails to timely file a report under this chapter shall pay a penalty equal to $150. (b) In addition to the penalty imposed under par. (a), any person who fails to file a report by the time prescribed in a…

177.12045 Fraudulent claim penalties. (1) CIVIL PENALTIES. (a) Any person who files a claim with the administrator for the property of another without the other’s consent and with the intent to deprive the owner of such property shall pay a penalty equal to the total value of the…

177.1205 Waiver of penalties. The administrator may waive, in whole or in part, the penalties imposed under ss. 177.1204 and 177.12045 (1). History: 2021 a. 87; 2025 a. 112.

177.1206 Recovery of property paid to incorrect claimant. (1) If the administrator pays or delivers property under this chapter in error to any person, the administrator may assess the value of such property against the person. The assessment is subject to interest at the rate fo…

177.1301 When agreement to locate property enforceable. (1) In this subchapter, “locator service” means a person who locates, delivers, recovers, or assists in the location, delivery, and recovery of property held by the administrator. (2) An agreement by an apparent owner and lo…

177.1302 When agreement to locate property void. (1) Subject to sub. (2), an agreement under s. 177.1301 is void if it is entered into during the period beginning on the date the prop- UNCLAIMED PROPERTY ACT 177.1402 erty is paid or delivered by a holder to the administrator and …

177.1401 Definitions; applicability. (1) In this subchapter, “personal information” means the following: (a) Information that identifies or reasonably can be used to identify an individual, including an individual’s first and last name in combination with any of the following inf…

177.1402 Confidential information. (1) Except as otherwise provided in this chapter, the following are confidential and exempt from public inspection or disclosure under subch. II of ch. 19: (a) Reports and records of a claimant that are in the possession of the administrator or …

177.1403 When confidential information may be disclosed. (1) When reasonably necessary to enforce or implement this chapter, the administrator may disclose confidential information concerning property held by the administrator or the administrator’s agent only to the following: (…

177.1501 Uniformity of application and construction. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it. History: 1983 a. 408; 2021 a. 87 s. 187; Stats. 2021 s.…

177.1502 Effect of new provisions; clarification of application. (1) This chapter does not relieve a holder of a duty that arose before November 7, 2021, to report, pay, or deliver property. Subject to s. 177.0610 (2) and (3), a holder who did not comply with the law governing un…

177.1503 Escheat of property to municipalities. If any statute provides for the escheat of abandoned or unclaimed property to a county, city, village or town, this chapter does not apply. History: 1983 a. 408; 2021 a. 87 s. 188; Stats. 2021 s. 177.1503.

177.1504 Escheat of U.S. savings bonds. (1) If all of the following conditions apply, the administrator may bring an action for a judgment that a U.S. savings bond, including a U.S. savings bond in the possession of the administrator or a U.S. savings bond that has been lost, sto…

177.1505 Voluntary disclosure. (1) The administrator may enter into voluntary disclosure agreements with holders if the following conditions are met: (a) The holder failed to file a report required under this chapter or the holder filed a report under this chapter and failed to i…