Unclaimed Property

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When a check goes uncashed, the money isn’t immediately yours. Unclaimed property, or escheatment, still belongs to whomever you were trying to pay – and every state and US territory has different requirements for what you do next. Failure to adequately document your search for the payee can result in massive fines. (In many states, these penalties are one of the largest sources of revenue for states, behind only income, property and sales taxes.)

The more than 100 articles below can keep you current on those due diligence laws to prepare you for your next Unclaimed Property audit.

Q. We have hundreds of land holders that we make royalty payments to each quarter. Over the years,… Read More
Revenue-strapped states will be on high alert when it comes to enforcing unclaimed property (escheatment) laws in 2021, and will likely increase the use of aggressive audits to compensate for revenue… Read More
Q. Is there a website that lists all the states' dormancy periods, filing dates, etc? I need an… Read More
Q. Does your organization handle the escheatment process in house or outsourced? If you handle… Read More

Why should a company pay attention to the niche regulatory reporting mechanism known as the Delaware unclaimed property voluntary disclosure agreement (VDA)? More so than in any other state, Delaware,

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Q. Hello, we recently started exploring virtual payments and were curious on what to do if a… Read More
Q. We are trying to adopt a new policy for unapplied payments/ unknown. Would you please provide… Read More
Q. We had a check that was a year old and we asked the associate who requested it (this was for a… Read More
Q. I am preparing due diligence letters to send to vendors who did not cash their checks. How… Read More
Q. What is the best way to document due diligence activities for escheatment? A. (Answered by True… Read More

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