Official Louisiana Up 1 Template in PDF Fill Out My Document Online

Official Louisiana Up 1 Template in PDF

The Louisiana Up 1 form is a crucial document used by businesses and organizations to report unclaimed property to the state. This form ensures compliance with Louisiana's regulations regarding abandoned assets, allowing holders to accurately declare their unclaimed property. Completing this form correctly is essential to avoid penalties and ensure that rightful owners can reclaim their assets.

To begin the process, please fill out the form by clicking the button below.

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Document Overview

Fact Name Details
Governing Law This form is governed by Louisiana Revised Statutes (La. R.S.) 9:151-181.
Purpose The UP-1 form is used to report unclaimed property to the Louisiana Department of the Treasury.
Filing Deadline Reports must be filed by November 1 each year. If the deadline falls on a weekend or holiday, it shifts to the next business day.
Contact Information Holders are required to provide contact details, including a contact person, telephone number, and email address.
Previous Holder Information If applicable, the form allows for the reporting of previous names or addresses of the holder.
Verification Requirement The form includes an official verification section where the holder must declare the accuracy of the report under penalty of perjury.
Remittance All reports must include a remittance, detailing total amounts due, interest, and any penalties.
Annual vs. Supplemental Report Holders must indicate whether they are submitting an annual report or a supplemental/additional report.

Detailed Steps for Writing Louisiana Up 1

Once you have gathered all necessary information, you can begin filling out the Louisiana Up 1 form. This process involves providing details about your organization, any previous filings, and the unclaimed property itself. Be sure to follow the steps carefully to ensure accurate and timely submission.

  1. Start by entering the Report Year at the top of the form.
  2. Fill in the Period Covered by indicating the start and end dates.
  3. Provide the Holder Account Number if you have it.
  4. Next, write your Holder Name in the designated space.
  5. Fill out your Address details, including Address 1, Address 2 (if applicable), City, State, and Zip code.
  6. List the Contact Person for this report.
  7. Enter the Telephone Number, Fax Number, and Email Address of the contact person.
  8. Provide your Federal ID Number.
  9. Indicate the State of Incorporation and the Date of Incorporation.
  10. Describe your Primary Business Activity.
  11. Answer whether you filed a report of Unclaimed Property last year by marking YES or NO.
  12. If you answered NO, provide an explanation in the space provided.
  13. If applicable, list your Previous Name, Previous Address, and Previous City, State, Zip.
  14. Mark one of the options for the type of report: Annual Report or Supplemental/Additional Report.
  15. Calculate and enter the Total Amount Due From Last Page, Interest, and Penalty.
  16. Sum these amounts to get the Total Remittance.
  17. Indicate the Total Number of Shares of Stock if applicable.
  18. In the Official Verification of Report section, print your name and sign the form.
  19. Finally, fill in your Title and the Date of signing.

Form Preview

Rev. 02/2013

UP-1

State of Louisiana

 

Department of the Treasury

 

Unclaimed Property Division

This form may

P.O. Box 91010

be reproduced

Baton Rouge, LA 70821-9010

 

(225) 219-9400

 

LOUISIANA REPORT OF UNCLAIMED PROPERTY VERIFICATION

 

Report Year: __________________________________ Period Covered: _________________ to ________________

FILE BEFORE NOVEMBER 1.

If the due date falls on a weekend or holiday, the report is due on the next business day and becomes delinquent on the first day thereafter.

Holder Account Number

 

 

 

(If Known)

 

 

 

Holder Name:

 

 

 

 

 

 

 

Address 1:

 

 

 

 

 

 

 

Address 2:

 

 

 

 

 

 

 

City, State, Zip:

 

 

 

 

 

 

 

Contact Person:

 

 

 

 

 

 

 

Telephone Number:

 

Fax Number:

 

 

 

 

 

Email Address:

 

 

 

 

 

 

 

Federal ID Number:

 

 

 

 

 

 

State of Incorporation:

 

Date of Incorporation:

 

 

 

 

 

Primary Business Activity:

 

 

 

 

 

 

 

Did you file a report of

 

 

 

Unclaimed Property last year?

YES

NO

 

 

 

 

If NO, please explain:

 

 

 

 

 

 

 

If you are the successor to a previous holder of the property, or if you have changed your name or address, please make corrections and list your previous name below:

Previous Name:

Previous Address:

Previous City, State, Zip:

YOUR REMITTANCE MUST ACCOMPANY THIS REPORT

PLEASE MARK ONE:

Annual Report (DUE NOVEMBER 1)

Supplemental/Additional Report

 

 

 

 

 

 

Total Amount Due From Last Page:

 

$

 

 

 

 

 

 

 

Interest:

 

$

 

 

 

 

 

 

 

Penalty:

 

$

 

 

 

 

 

 

 

Total Remittance:

 

$

 

 

 

 

 

 

 

Total Number of Shares of Stock:

 

 

 

 

 

 

 

 

 

 

 

 

 

OFFICIAL VERIFICATION OF REPORT

I, __________________________________, hereby declare, under penalty of perjury, that to the best of my knowledge

and belief, the following documentation contain a full, true, and complete report consisting of ____ page(s) totaling

$____________ regarding to the property presumed abandoned, remitted with this documentation, under the

provisions of La. R.S. 9:151-181 as of __________________, _____.

I further declare that this documentation contains complete and accurate information pertaining to the interest-bearing nature of all properties, remitted with this documentation contained therein. Specifically, I acknowledge and declare that this report accurately reflects whether each unit of remitted property, listed in the attached documentation, bears interest or is not interest bearing. I understand and acknowledge that failure to designate a remitted unit of property as bearing interest is equivalent to an express statement that such property is not interest bearing.

_____________________________________

______________________________

__________________________

Signature of Official

Title

Date

 

 

 

Misconceptions

Understanding the Louisiana Up 1 form is essential for those involved in the management of unclaimed property. However, several misconceptions often arise regarding its use and requirements. Here are nine common misunderstandings:

  • The form is only for businesses. Many people think only businesses need to file this form. In reality, individuals who hold unclaimed property may also be required to submit it.
  • Filing is optional. Some believe that submitting the Up 1 form is optional. In fact, it is mandatory for holders of unclaimed property to file annually by November 1.
  • Reports can be filed anytime. A common misconception is that reports can be submitted at any time. However, they must be filed before the deadline to avoid penalties.
  • Only cash can be reported. Many think that only cash qualifies as unclaimed property. In truth, a wide range of assets, including stocks and bonds, can be reported.
  • Previous reports are irrelevant. Some holders believe that prior filings do not affect their current submission. However, if you did not file the previous year, this must be explained on the form.
  • There are no penalties for late filing. It is often assumed that late filings incur no penalties. In reality, failing to file on time can lead to significant fines.
  • Only the current holder’s information is necessary. Some think that only their information needs to be included. However, previous names and addresses must also be provided if applicable.
  • All property is interest-bearing. A misconception exists that all reported property bears interest. The form requires holders to specify whether each unit of property is interest-bearing or not.
  • The form can be submitted without a remittance. Many believe they can submit the form without accompanying payment. In fact, the remittance must be included with the report to ensure compliance.

By addressing these misconceptions, holders of unclaimed property can better navigate the requirements of the Louisiana Up 1 form and ensure compliance with state regulations.

Documents used along the form

The Louisiana UP-1 form is an essential document for reporting unclaimed property to the state. Alongside this form, several other documents may be required or beneficial for a comprehensive submission. Below is a list of commonly used forms and documents that often accompany the Louisiana UP-1 form, each with a brief description to help clarify their purpose.

  • Louisiana UP-2 Form: This form is used to report any additional unclaimed property that may have been discovered after the initial UP-1 submission. It ensures that all relevant property is accounted for.
  • Holder Registration Form: Before submitting the UP-1 form, holders must register with the Louisiana Department of the Treasury. This form collects essential information about the holder's identity and contact details.
  • Affidavit of Heirship: This document may be necessary if the unclaimed property is being transferred to heirs. It provides proof of the relationship between the deceased and the heirs.
  • Operating Agreement: An Operating Agreement is a legal document that outlines the ownership and member duties of a Limited Liability Company (LLC). This crucial form sets the operational and financial decisions-making framework, allowing for a clear delineation of responsibilities and rights among members. For more information, visit UsaLawDocs.com.
  • W-9 Form: This tax form is often required to provide the holder's Taxpayer Identification Number (TIN) to the state. It helps ensure proper tax reporting for any remitted funds.
  • Claim Form: Individuals or entities claiming unclaimed property may need to fill out this form to formally request their property from the state, detailing their entitlement.
  • Proof of Ownership Documentation: This includes any records that verify ownership of the property, such as account statements, certificates, or titles. It supports claims made by holders or heirs.
  • Cover Letter: A cover letter may accompany the UP-1 form to provide context for the submission. It can outline the details of the report and any additional information relevant to the state.
  • Payment Remittance Form: This form is used to detail the payment being made to accompany the UP-1 form. It includes information about the amount due and how it was calculated.
  • Annual Report Summary: This document summarizes the annual report of unclaimed property, providing an overview of the types and amounts of property being reported.

These forms and documents play a crucial role in the process of reporting unclaimed property in Louisiana. Ensuring that all necessary paperwork is completed and submitted accurately can help facilitate a smoother experience for both holders and claimants. Understanding each document's purpose can aid in compliance and streamline the reporting process.