Holder Information: Reporting Unclaimed Property
Electronic Reporting Requirement
In December 2013, Rule 13.21 was added to Texas Administrative Code Title 34 that affects the reporting requirements for holders of unclaimed property.
Effective with the 2014 reporting cycle, submission of report data on CD or diskette is no longer permitted. Holder reports must now be transmitted through our secure file transfer portal. In addition, report data must meet the data entry standards outlined in our Reporting Instructions Manual.
Our office offers two reporting methods to assist in creating your report, a software system and web-based data entry application. Both of these reporting methods can be accessed on our website. You are not required to use our software; any commercial reporting system can be used to generate your report.
The Texas Comptroller of Public Accounts accepts files created using the electronic reporting format developed by the National Association of Unclaimed Property Administrators (NAUPA II). Files transmitted through the secure file transfer portal must be in this format.
Your report will be subject to rejection if the data does not comply with these entry standards. If rejected, you will have up to 30 days to resubmit a corrected report. Holders failing to resubmit corrected reports within 30 days will be subject to a daily penalty.
Filing Deadlines and Extensions
All holder reports and payments are due July 1 of every year. The cut-off date for reviewing your records is March 1. The state does not have the statutory authority to grant extensions on the payment of your report.
The 2014 Update Notice summarizes the information you need to complete your report.
Abandonment Periods by Property Type
- Wages, payroll or salary: 1 year
- Utility deposits: 1 year
- Stored value card: 1 - 3 years (See page 3 of publication 96-376)
- Safe deposit box contents: 5 years
- Traveler's checks: 15 years
- Trust, investments and escrow accounts: 3 years
- Insurance: 3 years
- Official checks: 3 years (excludes traveler's checks)
- Current production payments of previously abandoned property: 0 years - considered abandoned immediately and must be remitted to Comptroller's office
- Proceeds from mineral interests: 3 years (excludes ongoing production royalties relating to previously abandoned property)
- General business, miscellaneous checks and intangible personal property: 3 years (excludes payroll and stored value cards that represent wages)
- Securities: 3 years
- Utilities: 3 years (excludes utility deposits)
- Courts/Legal: 3 years
- All other property types: 3 years
Due Diligence Requirements
Holders are required to mail a notice by May 1 to all owners of property over $250 that are due to be included in their July 2013 report.
View a sample due diligence letter that can be modified to describe the specific type of unclaimed property you are holding.
A sample letter for financial institutions can be used for bank accounts, safe deposit box contents and certificates of deposit.
- The requirement does not apply to holders that have already mailed letters.
- The notice is not required if the holder does not have a record of an address.
- Holders may charge the cost of postage as a service charge against each property.
Paper reports are no longer acceptable. Your file(s) may be submitted using any of the methods below.
Texas uses the reporting format developed by the National Association of Unclaimed Property Administrators (NAUPA). Files must be prepared in the NAUPA II record layout, regardless of the type of reporting system used.
Our office offers free software to assist you in creating your report. The Unclaimed Property Reporting System creates your Texas report in the NAUPA II format. At the time of report submission, the software will direct you to our website to attach the NAUPA file created by this system.
Individual owner records of less than $50 may be reported in the aggregate. You may combine any amounts under $50 by property type and report a single total for each property type. While aggregation of property items under $50 is still allowed by law, it is discouraged; the more detail reported, the more property is potentially returnable.
Exceptions: Mineral interests should never be aggregated.
The Property Type Code used on an aggregate record should always end in "99" (e.g., AC99, IN99).
Negative reports that are required by many states are no longer required in Texas. No report should be filed when you have no unclaimed property.
Retention of Records
All holders are required to retain records of unclaimed property for 10 years after the property has been reported.
Delivery of Payment
Texas law requires holders who paid $100,000 or more during the previous state fiscal year (September through August) to make subsequent payments by electronic fund transfer. Holders who have reported less than $100,000 can also submit payment electronically. Automated Clearing House (ACH) through TEXNET is the preferred electronic fund transfer medium. If you are submitting an electronic payment and filing your report via the Internet, please include the report Internet confirmation number with your payment.
ACH/TEXNET Instructions for Texas Unclaimed Property Payments
Enrollment in the TEXNET Program is required prior to sending ACH payments. This should be completed before May 31 to meet the July 1st deadline. The enrollment process takes between 7 and 14 working days and may be initiated by completing a TEXNET Enrollment for Unclaimed Property Holders form. A completed form should be mailed or faxed to:Texas Comptroller of Public Accounts
Cash Management Programs
P.O. Box 12608
Austin, Texas 78711-2608
Phone: 1-800-531-5441, ext. 3-3010
Upon receipt and processing of the form, you will be provided an access code and instructions for communicating with the TEXNET System if you have chosen the ACH debit or credit option. Go to the TEXNET site where you may initiate your payment.
Your remittance can be scheduled up to 30 days before your payment is due. The information is warehoused and your funds are not transferred until the date designated by you. Your payment can also be initiated on your telephone.
Missed Your TEXNET Payment Deadline?
When payment information for ACH Debit transactions cannot be submitted before 6 p.m. (CST) on the bank business day before the due date, or when ACH Credit with addenda transactions cannot be originated for settlement on the due date, you must use the following procedure to ensure a timely payment:
- Call the Comptroller’s office to report payment information as early as possible on the payment due date by calling the TEXNET hotline at 1-800-531-5441, ext. 3-3010. This call is very important — without it, we will not have the necessary information to apply the payment to your unclaimed property account.
- Instruct your financial institution to wire transfer your payment to:
Bank name: Texas Comptroller of Public Accounts
Routing #: 114900164
Account name: Texas Comptroller of Public Accounts
Account #: 883083001
The Comptroller of Public Accounts is the receiving bank and is located in Austin, Texas. You must include your holder name and taxpayer identification number in the wire, as well as a contact person and/or phone number.
Electronic Delivery of Securities
Read the instructions for delivering securities via the Depository Trust Company (DTC) or Federal Reserve Bank.
Mailing Instructions for Texas Unclaimed Property Remittance Checks and Physical Securities
All checks should be made payable to the Texas Comptroller of Public Accounts - Unclaimed Property. Securities should be registered to the Comptroller of Public Accounts, Federal Tax Identification Number 74-6000089. Mail remittance checks and securities to:Texas Comptroller of Public Accounts
Unclaimed Property Holder Reporting Section
P.O. Box 12019
Austin, Texas 78711-2019
For courier delivery of checks use the following address:Texas Comptroller of Public Accounts
Unclaimed Property Division
111 E. 17th St.
Austin, Texas 78774-0100
Safe Deposit Box Contents and Safekeeping Properties should be delivered on the assigned date to:Texas Comptroller of Public Accounts
208 E. 10th St., Room 232-A
Austin, Texas 78701-2407