Enterprises that operate in NSW and hold money for another person or body as at 30 June in any year must send the money to us by 31 October of that year, after having made reasonable attempts to contact the rightful owner and return the money to them.
If you don’t lodge and pay your unclaimed money, you may have to pay penalty tax and interest.
An enterprise includes a:
An enterprise does not include a bank or building society, credit union or friendly society.
Unclaimed money we collect includes
We do not collect unclaimed money that falls into the following categories.
Unclaimed money held by banks, credit unions, building societies, friendly societies and life insurance is payable to the Australian Securities and Investments Commission (ASIC).
Administration for deregistered companies is the responsibility of ASIC .
The types of unclaimed money sent to us includes:
We hold unclaimed superannuation that was lodged with us between 1 July 1997 to 30 June 2007 and only collect unclaimed money from NSW public sector superannuation.
Superannuation becomes unclaimed in the following circumstances.
When a member:
For a non-member spouse, when:
When, in the case of a deceased member:
If you need more information, please contact us.
Accounts with $100 or less are not classed as unclaimed money.
If the inactive money is held in a trust or as part of a NSW public sector superannuation fund, you must send it to us regardless of the account balance.
You don’t have to send unclaimed money to us if: