1. (1) The Voluntary Disclosure Program allows a Holder to come into compliance with the reporting and delivery of Property presumed abandoned under ORS 98.302 to 98.436 and these rules without interest or penalty under ORS 98.416(2) and ORS 98.992 during the period the Holder participates.

2. (2) To participate in the Voluntary Compliance Program, a Holder must meet the following criteria. The Holder:

   1. (a) Has identified that it did not report or underreported Property that was Reportable and deliverable in a prior year;
   2. (b) Is not subject to a current Examination under these rules; and
   3. (c) Has not participated in the Voluntary Compliance Program or the Self-audit Program within the past ten years. The Treasurer may waive this requirement if the Property type is new or associated with a merger or acquisition of a new company.

3. (3) If the Holder qualifies to participate in the Voluntary Disclosure Program, the Holder must:

   1. (a) Enter into a Voluntary Disclosure Agreement with the Treasurer.
   2. (b) Conduct a complete examination of the Holder’s, the Holder’s subsidiaries or other related entities books and records. Any discovered unclaimed property should be reported regardless of age. Reasonable research to identify unclaimed property must be completed as long as there is reasonable access to past records. At minimum, the review should cover the last six report years;
   3. (c) Report and deliver Property as required under ORS 98.302 to 98.436;

   4. (d) Disclose the following for each subsidiary or related entity:

      1. (A) The Employer Identification or Tax Identification Number issued by the Internal Revenue Service;
      2. (B) The state of domicile;
      3. (C) The state of incorporation; and
      4. (D) The Holder’s corporate/organization structure.
   5. (e) Disclose, in writing, all business policy assumptions, methodologies, and estimation techniques (if applicable) used in the determination of Reportable Property;
   6. (f) Certify that due diligence was followed as required by OAR 170-145-0015;
   7. (g) Certify there are policies and procedures in place for handling and reporting unclaimed property;
   8. (h) Certify the content and accuracy of the records examined to the Treasurer, including the reason for each missing or unavailable record; and
   9. (i) File an electronic report in the form and format required by the Treasurer under OAR 170-145-0020 within 180 days after the Holder enters the Voluntary Disclosure Program.
4. (4) When the Holder completes the Voluntary Disclosure Program, the Holder remains subject to interest or penalty under ORS 98.416(2) and 98.992 for failing to report, pay, or deliver Property under ORS 98.302 to 98.436 for periods other than those covered by the Voluntary Disclosure Program.
5. (5) The Treasurer at any time may conduct an Examination of the Holder’s records under ORS 98.412.

Statutory/Other Authority

ORS 178.050, ORS 98.302 - 98.436 & ORS 98.992

Statutes/Other Implemented

ORS 98.302 - 98.436 & ORS 98.992

History

OST 3-2026, amend filed 03/18/2026, effective 03/20/2026
OST 3-2024, amend filed 06/03/2024, effective 06/10/2024
OST 3-2023, temporary amend filed 12/29/2023, effective 01/01/2024 through 06/23/2024
OST 2-2021, adopt filed 06/29/2021, effective 07/01/2021