Legislation pending in Washington State (S.B. 5988) would require companies to report unclaimed gift card balances to the Washington Department of Revenue as part of their unclaimed property reporting obligations. The state's current law puts it among the majority of states (38) that exempt gift cards/certificates from unclaimed property reporting so long as they meet certain criteria (e.g., no expiration, no fees, etc.). The proposed change mirrors the law in the minority of states (12) that currently require companies to report unused gift card/certificate balances as part of their annual unclaimed property reporting.

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