A report is required even when there are no funds to remit
Ohio businesses must submit an annual unclaimed funds report, including businesses that have no funds to report. If a review of your records finds nothing reportable, you must file a negative report, also called a NONE report.
The Ohio Department of Commerce lists November 1, 2026 as the business reporting deadline. Review your records and complete the filing before that date. Life insurance companies have until May 1, 2027.
What a negative report means
A negative report tells the state that your business reviewed its records and found no reportable unclaimed funds. No money is remitted with a negative report.
“Having no unclaimed funds doesn’t mean you can skip the report. Review your records and file a negative report if nothing is due. It’s an easy requirement to overlook.”
Christina “Christy” Rosebrough-Zody, Managing Partner, Statutory Compliance Partners, LLC
Review your records before filing
Start with outstanding payroll checks, customer refunds and deposits your business owes back. Check the reporting rules for each type of funds before deciding what belongs on the report.
Whether money is reportable depends on the type of funds, the applicable period of inactivity and any statutory exclusions. Ohio Revised Code 169.02 sets different periods for different categories.
Use the correct reporting period
The general 2026 business report covers funds that met the applicable dormancy requirements as of June 30, 2026. Life insurers follow a separate cycle, with a May 1, 2027, deadline for funds reportable as of December 31, 2026.
Allow time for required owner notices
If you find reportable funds, check the owner-notice requirements before submitting them. Ohio generally requires notice for individual items worth $50 or more and at least 30 days between mailing the notice and reporting the item. Mailing requirements and exceptions depend on the circumstances.
If required notices have not gone out, contact the Division promptly about your filing timeline. Ohio Revised Code 169.03 allows a reporting-date extension for good cause upon written request. An extension requires approval.
Submit the report and keep your confirmation
Use Ohio’s official unclaimed funds website and follow the business reporting instructions. Submit a negative report only if your review finds no reportable funds. Otherwise, follow the instructions for reporting and remitting the funds.
Save your filing confirmation with the records supporting your review. Assign next year’s review to a specific person so the filing does not depend on someone remembering the deadline.
Missing the deadline can lead to penalties
Under Ohio Revised Code 169.12, knowingly failing to report unclaimed funds by the required date may result in a $100-per-day civil penalty. Failing to file a requested report within four months of the request carries a separate $100-per-day penalty, which may be imposed in addition to other penalties.
Unreported, underreported or unsettled funds can also trigger interest and a separate civil penalty of 1% per month for up to 25 months. The 1% charge is a penalty, not the interest rate. Interest is calculated separately under the statute.
The Director of Commerce may waive some or all civil penalties for good cause and must waive them when a holder shows reasonable grounds for noncompliance. Do not assume a waiver applies.
Source: Ohio Revised Code 169.12
Business compliance support in Ohio
Statutory Compliance Partners, LLC, based in Delaware, Ohio, provides statutory agent, compliance and bookkeeping services for Ohio businesses. For questions about support for your business, contact our team or call 740-833-5514.
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