Simplifying Compliance with Unclaimed Balances Law

Ask AI

BOT CIRCULAR NO. 3-98: Simplifying Compliance with Unclaimed Balances Law

Getting related questions...
What do you want to know about the law?
Your conversations and searches stay on your device. We do not store or track your activity on our servers. To know more about our privacy commitment see jur.ph/privacy Ask AI provides quick answers grounded in full case texts to avoid mistakes. Always verify with the original text.

Ask AI

Title Supreme Court: Simplifying Compliance with Unclaimed Balances Law

Law: Bot Circular No. 3-98

Decision Date: Jun 22, 1998

BOT Circular No. 3-98 streamlines the reporting process for banks and financial institutions regarding unclaimed balances, requiring consolidated reports to the Treasurer of the Philippines every odd year for deposits unclaimed for ten years or more, while imposing penalties for non-compliance.

unclaimed balances

administrative law

bank reporting

END