2021 Wisconsin Statutes & Annotations
Chapter 177 - Uniform unclaimed property act.
177.0505 - Tax return identification of apparent owners.

177.0505 Tax return identification of apparent owners.

(1) Annually, before July 1, the administrator shall determine if either of the following applies to any apparent owner of abandoned property under s. 177.0503:

(a) The apparent owner has filed a tax return in the 14 months preceding the determination.

(b) The apparent owner is a debtor under s. 71.93 or 71.935.

(2) For any person who is identified in sub. (1) and who is not a debtor under sub. (1) (b), the administrator shall do the following:

(a) Deliver the property to the apparent owner, in the manner provided under s. 177.0903, without requiring the apparent owner to file a claim under s. 177.0903, if the value of the abandoned property is $2,000 or less.

(b) Send written notice to the person, informing the person that he or she is the owner of abandoned property held by the state and may file a claim with the administrator for return of the property under s. 177.0903, if the value of the abandoned property is over $2,000.

(3) For any person who is identified in sub. (1) and who is a debtor under sub. (1) (b), the administrator shall set off the abandoned property against the person's debts under s. 71.93 or 71.935. If there is any remaining property after setoff, the administrator shall proceed under sub. (2) (a) or (b).

(4) Any property paid or delivered to a person under this section is subject to recovery by the administrator as provided in s. 177.1206 and this chapter.

History: 2021 a. 87; s. 35.17 correction in (2) (intro.), (3).