Iowa is offering a limited time amnesty program that will allow holders to report late property without interest or penalties. Holders will need to complete a "Petition for Amnesty Assessment of Late Reporting Interest & Penalties" before reporting on November 1, 2012. This amnesty program does not include any extension of time to report property.
In 2011, Iowa said that they collected $20 million from 4,600 organizations. Iowa is offering this program to encourage holders to voluntarily comply with the state's unclaimed property laws.