Amending Treasury Circular No. 01-2010, Uniform Rules and Procedures for Reactivation of Unclaimed Balances Reported to the Treasurer of the Philippines
Treasury Circular No. 02-2018 • Other Rules and Procedures • Bureau of the Treasury • May 29, 2018
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May 29, 2018 TREASURY CIRCULAR NO. 02-2018 TO : All Banks, Trust Companies, Savings and Mortgage Banks, Mutual Building and Loan Associations, All Banking Institutions of Every Kind, and All Concerned SUBJECT : Amending Treasury Circular No. 01-2010, Uniform Rules and Procedures for Reactivation of Unclaimed Balances Reported to the Treasurer of the Philippines 1.0 PURPOSE 1.1 To amend certain provisions of Treasury Circular No. 01-2010. 1.2 To include additional requirements for reactivation of Unclaimed Balances Reported to the Treasurer of the Philippines. 2.0 GENERAL GUIDELINES 2.1 Section 5.0 is hereby amended to read as follows: "5.0 APPROVING AUTHORITY The authority to reactivate on unclaimed balance account/s shall be issued by the following officers: a. Division Chief/Head Law & Litigation Division Legal Service aggregate amount of unclaimed balance not exceeding PHP25,000.00 b. Director, Legal Service aggregate amount of unclaimed balance exceeding PHP25,000.00 but not exceeding PHP100,000.00 c. Deputy Treasurer of the Philippines Administrative & Legal Service aggregate amount of unclaimed balance exceeding PHP100,000.00 but not exceeding PHP500,000.00 d. Treasurer of the Philippines aggregate amount of unclaimed balances exceeding PHP500,000.00" 2.2 A new Section 4.7 is hereby added to read as follows: "4.7. Supplementary Requirements. a. Copy of unclaimed balances report submitted to the Bureau of the Treasury indicating the names of requesting depositor/creditor; b. In case the depositor/creditor is already dead, the surviving heir/s shall present the following: i. Death Certificate of the depositor/creditor; ii. Judicial or Extrajudicial settlement of the estate; iii. Valid Identification Card/s and Birth Certificate/s of the surviving heir/s; iv. Estate tax return duly stamped by BIR; and v. Bond. c. Other relevant documents the Bureau of the Treasury may require." 3.0 EFFECTIVITY This circular shall take effect fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation. (SGD.) ROSALIA V. DE LEON Treasurer of the Philippines
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