Join now!   |   Subscribe   |   Your Cart   |   Sign In
Unclaimed Property Focus
Blog Home All Blogs
UNCLAIMED PROPERTY FOCUS is a blog written by and for UPPO members, featuring diverse perspectives and insights from unclaimed property practitioners across the U.S. and Canada. We welcome your submissions to Unclaimed Property Focus. Please contact Tim Dressen via tim@uppo.org with any questions about submitting a blog post for consideration and refer to our editorial guidelines when writing your blog post. Disclaimer: Information and/or comments to this blog is not intended as a substitute for legal advice on compliance or reporting requirements.

 

Search all posts for:   

 

Top tags: unclaimed property  Compliance  education  UPPO  audits  Delaware  due diligence  litigation  Advocacy  reform  Members  ULC  fall reporting  legislation  RUUPA  UPPO annual conference  reporting  UP101  Gift Cards  UP Laws  Uniform Law Commission  california  Holders Seminar  UPPO Asks  VDAs  Canada  securities  service providers  Pennsylvania  uniform unclaimed property act 

Q&A With Bryant Clayton, Texas holder reporting supervisor

Posted By Administration, Monday, February 10, 2014
Updated: Monday, February 10, 2014

UPPO conducted a Q&A with Bryant Clayton, Texas holder reporting supervisor, unclaimed property division of Texas comptroller of public accounts, to get more information about Administrative Code 34.1.13 Rule 21. The rule requires holders to submit reports electronically.

Q: When did the administrative rule go into effect?

A: Texas Administrative Code 34.1.13 Rule 21 became effective Dec.30, 2013. This new rule stipulates property report formats that must be used when remitting unclaimed property to the state of Texas.


Q: What were the primary reasons for creating the new online portal?

A: The portal itself is not new. There are currently two ways that companies can use our website to submit unclaimed property reports: the secure file upload portal and the online express portal. The secure file portal is used to attach a NAUPA-formatted file for upload. Using the online express portal, holders can type property information directly into their browser without generating a NAUPA file. Both of these submission methods are encrypted.


The primary reason for requiring internet submission is to eliminate the use of CDs and disks to submit NAUPA files. Sending these items via mail represents a significant risk of parcel loss and possible breach of sensitive or confidential data.


Q: How can a business access the portal?

A: The secure file upload portal can be accessed here, and the online express portal can be accessed here.


Q: Do holders need to do anything in advance of submitting the report, like preregistering for access, setting up an account, etc? Or will report submission work in the same fashion as before the regulations went into effect?

A: Registration or account setup is not necessary to use the secure file upload portal. However, use of the online express system does require registration. Neither of these systems has changed since the adoption of the new rule.


Q: Does the new portal accept NAUPA-formatted files?

A: The secure file upload portal only accepts NAUPA-formatted files. The online express system does not use NAUPA files; instead, holders type their property information directly into their browser and submit their information securely.


Q: Is there anything else a holder should be aware of prior to submitting reports?

A: In 2011, the Texas legislature mandated a change in the due date for most unclaimed property. The due date to report and remit all unclaimed property except life insurance death benefit proceeds moved from Nov. 1 to July 1. Holders can reference our website for additional information.


Q: If holders have questions about the new portal, where should they direct their questions?

A: Holders can direct their questions to any staff member in the unclaimed property reporting section at 1-800-321-2274, option 5. They may also email questions to up.holder@cpa.state.tx.us.


More Resources

Visit the UPPO State Administrator Outreach Forum for more information like this.
Register for the 2014 UPPO Annual Conference, March 23-26, to connect with state administrators like Clayton
Not a member? Become a member to benefit from UPPO’s legislative and regulatory tracking service, govWATCH

Tags:  administrative code 34.1.13 rule 21  holder  NAUPA  Texas unclaimed property  unclaimed property education 

Share |
PermalinkComments (0)
 
Page 2 of 2
1  |  2
Membership Software Powered by YourMembership  ::  Legal