In addition to the dormancy period changes, HB 6421 makes changes with regard to holder reporting. Generally, Michigan requires an unclaimed property report to be filed and property delivered by November 1 for the year ending June 30. HB 6421 leaves that deadline in place, but adds the following reporting dates:
- In 2011, a report shall be filed on or before July 1, 2011 for the 9-month period ending on March 31, 2011.
- For years ending after 12/31/2011, the report shall be filed on or before July 1 of each year for the 12 month period ending on the immediately preceding March 31.