Arizona § 44-333 Erroneous advice or misleading statements by the department; abatement of penalties and interest; definitions

Arizona Statutes

§ 44-333 — Erroneous advice or misleading statements by the department; abatement of penalties and interest; definitions

Arizona § 44-333

Title 44Arizona Revised Statutes

Ch. 3REVISED ARIZONA UNCLAIMED PROPERTY ACT

Art. 1General Provisions

This text of Arizona § 44-333 (Erroneous advice or misleading statements by the department; abatement of penalties and interest; definitions) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 44-333 (2026).

Text

A. The department shall not require interest or a penalty on unclaimed property demanded as a deficiency if either: 1. The deficiency is directly attributable to erroneous written advice furnished to the holder by an employee of the department acting in an official capacity in response to a specific request from the holder and not from the holder’s failure to provide adequate or accurate information. 2. All of the following are true:

(a)An unclaimed property report or comparable document or unclaimed property ruling prepared by the department contains a statement that, if followed by a holder, would cause the holder to misapply this title.

(b)The holder reasonably relies on the statement.

(c)The holder’s underpayment directly results from this reliance. B. Each employee of the dep

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A. The department shall not require interest or a penalty on unclaimed property demanded as a deficiency if either:

1. The deficiency is directly attributable to erroneous written advice furnished to the holder by an employee of the department acting in an official capacity in response to a specific request from the holder and not from the holder’s failure to provide adequate or accurate information.

2. All of the following are true:

(a) An unclaimed property report or comparable document or unclaimed property ruling prepared by the department contains a statement that, if followed by a holder, would cause the holder to misapply this title.

(b) The holder reasonably relies on the statement.

(c) The holder’s underpayment directly results from this reliance.

B. Each employee of the department, at the time any oral advice is given to any person, shall inform the person that the department is not bound by that oral advice.

C. For purposes of this section:

1. "Unclaimed property report" includes the instructions that the department prepares for use with the unclaimed property report or comparable document.

2. "Unclaimed property ruling" means a statement issued by the director and denominated as an unclaimed property ruling or an unclaimed property procedure.