February 9, 1999
FOR IMMEDIATE RELEASE
Comptrollers Office Issues Unclaimed Property Updates.
Unclaimed Property Holder Reporting Instructions
Unclaimed Property Amnesty Program
Unclaimed Property Legislative Changes
1999 Unclaimed Property Auction
Y2K Compliance
Internet Access
Unclaimed Property Holder Reporting Instructions
The 1998 Unclaimed Property Holder Reporting Instructions booklet you received
last year is still valid. Please refer to the inside front cover for mailing
and remittance information. Enclosed are this year's preprinted report
forms for remitting abandoned property currently in your possession.
Unclaimed Property Amnesty Program
Businesses and financial institutions that remit and report overdue unclaimed property
to the Comptroller's office before October 31, 1999 will not be charged
penalty or interest.
Unclaimed Property Legislative Changes
The following are legislative changes to the unclaimed property statutes (Chapters
72-75 of the Texas Property Code) that were passed during the recent 76th
session of the Texas Legislature. The changes are effective September
1, 1999.
1. Section 74.101 has been repealed. Negative reports will no longer be required.
Holder reports will only be required in years when you actually have abandoned
property to remit. Please notate this change in your booklet on page 4.
2. Verification under oath is no longer required. The signature on your Report
Mailing Form will not need to be notarized. The enclosed preprinted form
has only a signature line. Please notate this change in your booklet on
page 43.
1999 Unclaimed Property Auction
Due to the large volume of abandoned safe deposit box contents received last
year, the Comptroller's office will have an unclaimed property auction
at the Travis County Exposition and Heritage Center at 10 a.m. on October
2, 1999. The preview of auction items is slated for September 30th and
October 1st from 10 a.m. to 6 p.m. Mark your calendars now.
Y2K Compliance
This year, if you file by diskette, you must use the Unclaimed Property Holder
Reporting Software Version 2.1 for Windows when submitting your reports.
The holder reports are due November 1, 1999. Included with this update
are two flyers. One describes our latest Y2K compliant software and how
to access it on the Comptroller's Internet Web site. The second flyer
is an update for tape and cartridge filers. NOTE: The Comptroller's
office will no longer accept diskette reports created using the older
DOS application version 3.3.6, released January 1988. This DOS format
is not Y2K compliant.
Internet Access
All of the unclaimed property forms, instruction booklets, and software are
available on the Internet at the Comptroller's
Web site. The unclaimed property holder reporting instructions and
forms may be accessed at http://www.window.state.tx.us/comptrol/unclprop/unclprop.html#holder.
The unclaimed property holder reporting software and user's guide, as
well as our revised tape specifications, may be accessed at
http://www.window.state.tx.us/taxinfo/etf/etf.html#Unclaimed
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