UNCLAIMED

BALANCES ACT OF
2013
■ Credits or Deposit of Money Ceded to the
■ Bullion TREASURER OF
THE
■ Securities PHILIPPINES to
■ Other Evidences of Indebtedness the credit of
and Interest thereon the National
■ Personal and Real properties Gov’t to be
within PH with banks, buildings used as
and loan association and trust Congress may
corporation direct
January of every Odd year, all banks, buildings and
loan associations and trust corporations shall cede to
the Treasurer of the Philippines the corresponding
amounts of all the unclaimed balances together with a
statement under oath, of their respective President,
arranged in alphabetical order according to the names
of the creditors and depositors, showing:
■ The names and last known place of residence,
business address, or post office address of the
persons in whose favor such unclaimed balance
stand. In case of unknown owners, only the last
known address shall be stated.
■ The amount and the interest thereon, and the date
of the outstanding unclaimed balance. If in security
or any other real or personal property, by stating its
nature.
■ The date when the person in whose favor the
unclaimed balance stands died, if known. Otherwise,
the date when the last transaction was made.
30 days
 TWICE IN NEWSPAPER
OF GENERL
CONSOLIDATE PUBLISH CIRCULATION IN THE
PH

LOCAL
NEWSPAPER

1 YEAR AFTER THE DEEMED ESCHEATED IN

COMPLETION OF 2 FAVOR OF THE NATIONAL
PUBLICATIONS GOVERNMENT
■ If President or similar official neglects to cede the
unclaimed balances and file sworn statement to the
Treasurer of the Philippines, he shall be liable to the
National Government, in the name of Treasurer of
the Philippines, the sum of P5,000 a month for each
month during which such default shall continue.