1. Individuals
  2. Holders Overview
  3. Unclaimed property holder compliance

Unclaimed property holder compliance

The Taxation and Revenue Department may:

  • require you to file a verified report in a form specified by the administrator if you have not filed an Unclaimed Property Report, or if the administrator believes that the report you have filed is inaccurate, incomplete or false; 
  •  examine your records to determine whether or not you have complied with the Uniform Unclaimed Property Act (1995). The administrator may conduct the examination even if you believe you are not in possession of any property that must be reported, paid or delivered under the Uniform Unclaimed Property Act (1995); 
  •  contract with any other person to conduct the examination on behalf of the administrator, or
  • examine the records of an agent of a business association or financial association that is the holder of property presumed abandoned if the administrator has given the proper notice to both the association or organization and the agent at least 90 days before the examination.

To review specific language on requests for reports and examination of records, please see the Uniform Unclaimed Property Act, (Sections 7-8A-1 through 7-8A-31 NMSA 1978).

Alternatively, property holders may arrange for managed audits (self-audits). View information on managed audits