Some error messages would be nice, but one thing that springs to mind is that you don't declare any of your miriad of variables. strict will rightly yell at you for that. You also have lots of incorrectly closed quotes. It isn't very wise to post unobscured passwords on public forums either.

The following is an untested cleanup. Please do ask about anything you don't understand.

#!/usr/bin/perl -w
use strict;
use DBI;

my @fields = qw(
    CLIENT      RECORD   CONTROL    CUSIP
    FROMACCT    F_IND    TOACCT     T_IND
    FP          ORIGQTY  DIV        LTCG
    STCG        SOCSEC   BKRNO      THIRDPARTYCD
    USERID      EDATE    ORIGAMT    CLOSEDIND
    ADPSECNO    BRNCH    ACNT       TYPE
    CHKDIGIT    PDATE    ACTLQTY    ACTLAMT
    CERTIND     REQST    RDATE      COMNTS
    TRNFTYPE    FILLER1  ADR_L1     ADR_L2
    ADR_L3      ADR_L4   ADR_L5     ADR_L6
    FILLER_B    CERTNO1  CERTSHRS1  CERTNO2
    CERTSHRS2   CERTNO3  CERTSHRS3  CERTNO4
    CERTSHRS4   CERTNO5  CERTSHRS5  CERTNO6
    CERTSHRS6   CERTNO7  CERTSHRS7  CERTNO8
    CERTSHRS8   CERTNO9  CERTSHRS9  CERTNO10
    CERTSHRS10  FILLER_B
);

my $dbh = DBI->connect(
    "dbi:ODBC:INSTDev", "sa", "password",
    { RaiseError => 1, PrintError => 1, AutoCommit => 1 }
) or die "Unable to connect: $DBI::errstr\n";

@ARGV = ("/tf_out.txt");

my $sth = do {
    my $cols = join(',', @fields);
    my $placeholders = join(',', ('?') x @fields);
    $dbh->prepare("INSERT INTO mf_forms ($cols) VALUE ($placeholders)"
+;
};

while(<>) {
    chomp;
    my %infields;
    @infields{+FIELDS} = split /\t/, $_, -1;
    $sth->execute(@infields{+FIELDS});
}

$dbh->disconnect;
[download]

Makeshifts last the longest.

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