(1)    Subject to s. 177.0210, property held in a pension account or retirement account that qualifies for federal income tax deferral or tax exemption under the U.S. income tax laws is presumed abandoned if it is unclaimed by the apparent owner 3 years after the later of:

      (a)    The following dates:

         1.    The date on which a 2nd consecutive communication sent by the holder by 1st class mail to the apparent owner is returned to the holder by the U.S. postal service as undeliverable.

         2.    If the 2nd communication is sent later than 30 days after the date on which the first communication is returned to the holder by the U.S. postal service as undeliverable, the date on which the first communication was returned as undeliverable.

      (b)    The earlier of the following dates:

         1.    The date on which the apparent owner reaches the minimum required distribution age, as specified under the Internal Revenue Code or by federal regulation, if that can be determined by the holder.

         2.    If distribution to avoid a tax penalty is required under the Internal Revenue Code, 2 years after the following:

            a.    The date on which the holder receives confirmation of the death of the apparent owner in the ordinary course of the holder’s business.

            b.    The date on which the holder confirms the death of the apparent owner under sub. (2).

   (2)   If a holder in the ordinary course of its business receives notice or an indication of the death of an apparent owner and sub. (1) (b) applies, the holder shall attempt not later than 90 days after receipt of the notice or indication to confirm whether the apparent owner is deceased.

   (3)   If the holder does not send communications to the apparent owner of an account described in sub. (1) by 1st class mail, the holder shall attempt to confirm the apparent owner’s interest in the property by sending the apparent owner e-mail not later than 2 years after the apparent owner’s last indication of interest in the property, except that the holder shall promptly attempt to contact the apparent owner by 1st class mail if any of the following applies:

      (a)    The holder does not have information needed to send the apparent owner e-mail or the holder believes that the apparent owner’s e-mail address in the holder’s records is not valid.

      (b)    The holder receives notification that the e-mail was not received.

      (c)    The apparent owner does not respond to the e-mail within 30 days from the date on which the e-mail was sent.

   (4)   If 1st class mail sent under sub. (3) is returned to the holder by the U.S. postal service as undeliverable, the property is presumed abandoned on the date determined under sub. (1).