1. Susan Vance Compliance Officer, FSITrack Corky Cootes Head of Development, FSITrack FSITRACK & UNCLAIMED PROPERTY FILING: WHAT YOU NEED TO KNOW

2.  Filing purpose is to return unclaimed property (money) to its rightful owner(s)  Zeroing out ledger accounts WHAT DOES IT MATTER?

3.  Property Types Applicable To The Insurance Industry  IN01Individual Policy Benefits or Claim Payments  IN02Group Policy Benefits or Claim Payments  IN03Proceeds Due Beneficiaries  IN04Proceeds from Matured Policies, Endowments or Annuities  IN05Premium Refunds  IN06Unidentified Remittances  IN07Other Amounts Due Under Policy Terms  IN08Agent Credit Balances  IN99Aggregate Insurance Property HOW DOES IT APPLY

4.  Other Applicable Property Types  MS01Wages, Payroll, Salary  MS02Commissions  MS03Workers Compensation Benefits  MS08Accounts Payable  MS09 Credit Balance – Accounts Receivable HOW DOES IT APPLY

5.  General Ledger Scrubbing  Moving uncashed checks to an unclaimed ledger account  30, 60, 90 days – time frame designated by internal policies and procedures  Due Diligence  The sooner attempts are made to find the owner, the better the chances are of returning the money to its owner  Must send a letter during statutorily prescribed time frame  Generally 120-60 days prior to filing time frame  Can be penalized if due diligence is not performed GENERAL PROCESSES

6.  Preliminary Filing  Required by Puerto Rico  End of Year – December 31 (All Insurance Companies)  Due Date - May 1  Required by California  End of Year – December 31 (Life Insurance Companies)  Due Date – April 30(Life Insurance Companies)  End of Year – June 30 (All Other Insurance Companies)  Due Date – October 31 (All Other Insurance Companies) GENERAL PROCESSES

7.  Filings  April 30/May 1  October 31/November 1  California Final Filing  December 1- December 15 (Life Insurance Companies)  June 1 – June 15 (All Other Insurance Companies)  Puerto Rico Final Filing  December 20 Most life insurance companies report May 1 with a year end date of December 31. (30/54 reporting entities) GENERAL PROCESSES

8.  Paying Claims  Death Master File Searches  Dormancy Start Date  Date of notice  Date of death  Finding Heirs  Due diligence efforts INSURANCE CO. CHALLENGES

9.  UPPO  Unclaimed Property Professionals Organization  www.uppo.org www.uppo.org  NAUPA  National Association of Unclaimed Property Administrators  www.unclaimed.org HOLDER HELP

10. IRSCompliance Regulatory & Accounts Payable Conference September, 2016 Location TBD www.irscompliance.orgwww.irscompliance.org for more information along with emails from FSI HOLDER HELP

11. Susan Vance Compliance Officer, FSITrack Corky Cootes Head of Development, FSITrack QUESTIONS