How to return unclaimed money
If you represent a company that has its head or principal office in the Northern Territory, you must keep track of unclaimed moneys held by your organisation and return them to the Territory Revenue Office (TRO).
Unclaimed money refers to any amount of money that is legally payable to a person that remains unpaid for a specific period of time. This is generally three years. Read Limitation Act 1981.
Types of unclaimed money include:
- other moneys payable to a member of a company.
You must record, in an alphabetical register, details of moneys that becomes unclaimed each year.
The register must include the following information:
- name of owner of money
- last address known
- total amount due to owner
- date money became payable
- description of unclaimed money
- date of last claim.
Fill in the unclaimed moneys register to record any unclaimed moneys.
You must submit a copy of the register for publication in the Government Gazette and your statutory declaration form to the TRO by the last day of February after the year the money becomes unclaimed.
You can submit your forms by mail, email or in person.
GPO Box 154
Darwin NT 0801
Phone: 1300 305 353
Charles Darwin Centre
19 The Mall
You don't have to pay the unclaimed moneys until 13 months after the date the copy of the register is published in the gazette.
If you do not make a voluntary payment, you will be informed on the date of gazettal.
If no claims are made within 12 months after the date of gazettal, payment of the unclaimed moneys must be made within one month of that date.
If any claims are paid within that year, you should make an entry in the register and submit a copy with your payment.
Last updated: 16 March 2018