Skip to main content
Please be aware, ASIC email transmissions are impacted by the Microsoft Global Outage. More information

Financial services

Lodge unclaimed money returns: Authorised deposit-taking institutions

An unclaimed money return is where an entity provides to ASIC unclaimed money in accordance with the law.

All authorised deposit-taking institutions (ADIs) must submit an annual unclaimed money return to ASIC by 31 March each year containing the unclaimed money as at 31 December of the previous year (section 69 of the Banking Act 1959 (Banking Act)).

ADIs include banks, building societies and credit unions. For a complete list of ADIs go to the APRA website.

Find your lost money

Use Moneysmart's Unclaimed money search

What is unclaimed money for ADIs?

Section 69 of the Banking Act identifies unclaimed money as all principal, interest, dividends, bonuses, profits and sums of money legally payable by the ADI, but where the time limit for commencing proceedings for recovery of these funds has expired. This includes dormant accounts where there has been no deposit or withdrawal by the owner of the account for seven years.

However, this does not include:

  • unclaimed money held in retirement savings accounts (within the meaning of the Retirement Savings Accounts Act 1997)
  • money in an account that is denominated in a currency other than Australian currency
  • money in a children’s account
  • farm management deposits (within the meaning of the Income Tax Assessment Act 1997)
  • term deposits
  • money held in an account with the ADI in respect of which the holder of the account, or an agent of the holder, has notified the ADI, between the end of the year and the day the statement is delivered to the Treasurer, that the holder wishes to treat the account as active.

Amounts of unclaimed money less than $500 cannot be sent to ASIC by an ADI (see the Banking (Unclaimed Money) Regulation 2016).

For more information on the requirements and exemptions see section 69 of the Banking Act and related regulations.

How an ADI lodges a return

Each year by 31 March ADIs must lodge a return with ASIC providing the unclaimed money held by the ADI as at 31 December of the previous year.

As an ADI, you can lodge your return by:

  1. completing a CSV return form
  2. lodging a CSV return form (through MOVEit), and
  3. making payment to ASIC of the unclaimed money.

Completing a CSV return form

A CSV return form is an Excel spreadsheet and contains:

  • Header record: Where the ADI’s information is entered (row 1)
  • Detail record/s: Where the unclaimed money record is entered (rows 2, 3, etc).

To make an Excel spreadsheet into a CSV return form you will need to save it as a comma delimited file format (.csv). To do this, use ‘save as’ to change the spreadsheet type to .csv.

Unclaimed money - Banking CSV example

The CSV return form has a specific format that must be complied with for ASIC’s system to receive and process the return. Our downloadable guide to the CSV return form includes the information to be included and the required format.

Guide to Banking Act CSV returns form (PDF)

It is advisable to check that your CSV return form:

  • has a Header record
  • has correct totals in the Header record
  • includes only amounts of $500 or more
  • has the full name of the depositor or shareholder
  • has the last known address of the depositor or shareholder (‘unknown’ addresses may be rejected); and
  • has the BSB (branch code) that applies to any account.

The detailed information you provide ensures that accurate and sufficiently complete unclaimed money details can be made available to the public and claimants identified. This information can be searched on our consumer website Moneysmart.

Tips for avoiding lodgement rejection

ASIC performs automated data quality checks on all bulk upload files. Many of the following issues are introduced when data is copied between systems or edited in spreadsheets. Reviewing your file before upload can help identify and correct common formatting issues and reduce the likelihood of rejection.

Useful tips about MOVEit:

  • Convert your file to CSV before loading through MOVEit.
  • Use the required file naming convention for your CSV file and Statement of Compliance (as outlined in the MOVEit user guide).
  • Upload files to the correct MOVEit folder (use Lodgements for lodgement submissions or Claims for claim submissions).

Your file may be rejected if it contains:

  • Extra spaces before or after values
  • Hidden characters (such as tabs or non-breaking spaces)
  • Dollar signs ($) in numeric fields
  • Amounts with more than 2 decimal places
  • Duplicate records
  • Invalid postcodes or country codes
  • Missing required information
  • Commas, quotation marks, or special characters where they are not expected.

Lodging the CSV return form (through MOVEit)

Once you have completed your CSV return form you can lodge it through the MOVEit platform. If this is your first time lodging through the platform, contact unclaimed.money@asic.gov.au to set-up a lodgement account. Lodging your CSV return form via the platform supports secure and effective transmission of your return to ASIC.

Your lodgement must also include a signed Statement of Compliance confirming that the funds meet the requirements of the legislative section under which the lodgement is being made.

Download a copy of the Statement of Compliance – s69 Banking Act (PDF).

Making payment to ASIC of unclaimed money

You will receive email confirmation that your CSV return form has been accepted and details of how you can make payment will be provided.

If the payment of the unclaimed money is not received by ASIC within 5 business days of ASIC’s email your return may be rejected.

Lodging a nil return

If you have no unclaimed money as at 31 December of the previous year, as an ADI you must still lodge a return by 31 March.

Lodging nil return (via email)

You can lodge a nil return by email.

Word your email as follows:

To: unclaimed.lodging@asic.gov.au

Subject: ADI unclaimed money nil return for <insert your company>

<Your ADI name>

<Year of Return>

I refer to our annual unclaimed money return. This is to confirm that we have no money to be provided to ASIC as unclaimed money.

<Name of person submitting the email>

<Position of person>

<Contact phone number>

Contact us

Contact the Unclaimed Money Unit:

By phone: 1300 300 630
By email: unclaimed.lodging@asic.gov.au

Postal address:

Unclaimed Money Unit
Australian Securities & Investments Commission
PO Box 4000
Gippsland Mail Centre VIC 3841

More information