Reporting Guidelines

Due Diligence

Due diligence is required of those holding properties valued at more than $250 and presumed abandoned. The written notice must state that:

  1. the holder is holding the property; and
  2. the holder may be required to deliver the property to the Comptroller’s office on or before July 1 if it is not claimed.

Below are links to view sample due diligence letters. These can be modified to describe the specific type of property you are holding.

General Purpose (opens in a new tab)

Financial Institutions (opens in a new tab)


Personal Representative for Notice

As of September 1, 2017, Texas Property Code Title 6, sections 72.1021 and 73.103, allow the owner of financial accounts, mutual funds or the contents of a safe deposit box to designate representatives for their accounts.

Under Texas Property Code Section 74.101(c) (as amended by H.B. 1454), holders are required only to report information about a designated representative when submitting a property report for property considered abandoned as required by Section 74.101(a). Therefore, holders do not need to inform the Comptroller’s office of changes to a designated representative.

Under Sections 72.1021(d) and 73.103(d), for the abandonment period to stop running on an account, the institution must receive a communication from a representative designated under the section. Therefore, if the institution receives a communication from an individual designated for a specific account, the abandonment period would not necessarily cease to run for accounts for which a representative has not been designated.

See Holder Forms & Guides for a link to the Designation of Representative form.