TITLE 14

ESTATES OF DECEDENTS

CHAPTER 5

REVISED UNCLAIMED PROPERTY ACT

PART 12

ENFORCEMENT BY ADMINISTRATOR

14-5-1204.  INTEREST AND PENALTY FOR FAILURE TO ACT IN TIMELY MANNER. (1) A holder that fails to report, pay, or deliver property within the time prescribed by this chapter shall pay to the administrator interest at an annual rate of twelve percent (12%) on the property or value of the property from the date the property should have been reported, paid, or delivered to the administrator until the date reported, paid, or delivered.

(2) Except as otherwise provided in section 14-5-1205 or 14-5-1206, Idaho Code, the administrator may require a holder that fails to report, pay, or deliver property within the time prescribed by this chapter to pay to the administrator, in addition to interest included under subsection (1) of this section, a civil penalty of two hundred dollars ($200) for each day the duty is not performed, up to a cumulative maximum amount of five thousand dollars ($5,000).

History:

[14-5-1204, added 2024, ch. 27, sec. 2, p. 213.]