Unclaimed Property

Best practices for unclaimed property name changes

Q. What are some best practices for handling unclaimed property name change inquiries? A. (Answered… Read More

Handling returns of electronic payments

Q. I was wondering if there is any information on electronic payment returns (ACH / wires). If so,… Read More

Escheatment process

Q. I need to get a process down for our escheatment. What is best practice for AP/Accounting? Do… Read More

California unclaimed property reporting deadlines?

Q. What is the next deadline date to file unclaimed property? A. We received an answer to your… Read More

Unclaimed property procedure

Q. I want to create a process for handling and reporting unclaimed property. Can you provide me… Read More

An Escheatment Primer

When Bankers Trust was fined $50 million for failing to escheat several years ago, corporate ears perked up. Many wondered, "What is escheatment?" Others began asking, "What are the ground… Read More

We are a US company which has a presence in Canada.

Q. (cont.) For Canadian located vendor payments issued from our Canadian operation are we required… Read More

The Positive Side of Escheatment Compliance

There are some good reasons for achieving compliance with escheatment statutes, besides the fact that they are the law and you are subject to fines and penalties if you don’t. Here are some of the… Read More

We issued a refund last year, but it was not cashed and we voided the check.

Q. (cont.) We now have located the payee and need to reissue the refund. AP wants a completely new

Unclaimed Property Primer

Unclaimed property laws vary by state and are continually evolving. If you are being audited, or are trying to proactively mitigate the risk of an unclaimed property audit, IOFM suggests contacting an