AB 466 Unclaimed Property LawOctober 2021 Tax News

New Questions for Business Entities on 2021 Tax Return

Assembly Bill 466 authorizes Franchise Tax Board (FTB) to share certain information with the State Controller's Office related to unclaimed property. FTB will add the following questions to certain business entity tax returns:

• Has this business entity previously filed an unclaimed property Holder Remit Report with the State Controller’s Office? [Yes/No]
  • If “Yes,” when was the last report filed? _____________
  • Amount last remitted? $_______________

These questions will be added to forms 100, 100S, 100W, 565, and 568.  Answers to these questions will have no impact on FTB’s return processing. The form instructions will include information regarding these new questions.

For more information and to review form instructions, visit Forms and publications.