Five Steps to Avoid the Risk of Unclaimed Property Noncompliance

March 28, 2022


Revenue-strapped states should remain on high alert when it comes to enforcing unclaimed property (escheatment) laws, and will likely experience aggressive audits to compensate for continuing revenue shortfalls caused by COVID-19. It is imperative that AP managers be up to date on any state developments in unclaimed property regulations and develop adequate control procedures to meet the compliance challenge. Escheatment is governed by the 1995 Uniform Unclaimed Property Act, which, for many…

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