Statutory Brief · California Compliance
California AB 2280 Voluntary Compliance Program & AB 466 FTB Tax Return Questions
California Franchise Tax Board returns now ask corporate taxpayers directly whether they filed unclaimed property reports with the State Controller—making AB 2280 VCP enrollment urgent prior to examination notice.
Key Statutory Findings & Holder Guidance
CCP § 1577 imposes mandatory 12% per annum interest from the original due date on any past-due California property filed outside VCP.
AB 2280 VCP waives 100% of that 12% statutory interest over a 10-year lookback provided the holder is not under SCO audit and has not received a waiver in the past 5 years.
Requires mandatory completion of SCO holder compliance training plus strict adherence to Notice (before Nov 1) and Remit (June 1–15) schedules.
Corporate finance and tax teams evaluating these rules should verify entity-specific incorporation history and prior filing logs before submitting positive or negative reports to state portals.