(1) An initial report filed under this chapter for property that was not required to be reported before January 1, 2023, but that is required to be reported under this chapter, must include all items of property that would have been presumed abandoned during the six-year period preceding January 1, 2023, as if this chapter had been in effect during that period.

(2) This chapter does not relieve a holder of a duty that arose before January 1, 2023, to report, pay, or deliver property. Subject to RCW 63.30.410 (2) and (3), a holder that did not comply with the law governing unclaimed property before January 1, 2023, is subject to applicable provisions for enforcement and penalties in effect before January 1, 2023.