§ 1491. Report required by holder (a) A holder of property presumed abandoned and subject to the custody of the Administrator shall report in a record to the Administrator concerning the property. The Administrator may not require a holder to file a paper report. (b) A holder may contract with a third party to make the report required under subsection (a) of this section. (c) Whether or not a holder contracts with a third party under subsection (b) of this section, the holder is responsible: (1) to the Administrator for the complete, accurate, and timely reporting of property presumed abandoned; and (2) for paying or delivering to the Administrator property described in the report.
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