Unclaimed Property

Voided checks with backup must be retained to meet the 7-10 year requirement, plus any additional

Accounts payable professionals would be wise to be aware that a new draft of the Uniform Unclaimed Property Act (UUPA) was approved in July. The revised UUPA (“RUUPA”) will now move on to the

Unclaimed property regulations are very different from other business regulatory law in that there is no statute of limitations and there are lengthy record-retention requirements. Therefore, if your

This template provides an example of an escheatment policy for unclaimed property handled by the AP Department. Microsoft Word

This template is an example of a letter sent to a vendor addressing unclaimed property. Microsoft Word

Unclaimed property is a source of concern and a potential liability for companies. “Many companies are being audited, and a number of states use third-party auditors who are paid on a contingency fee

State laws governing the reporting of unclaimed property are varied and complex, but in order to avoid penalties and interest, AP managers must ensure that outstanding items are properly identified and

Before you can report and remit unclaimed property you must fulfill your due diligence requirement. That is, you must attempt to contact the owner of dormant property to give them a last opportunity to

Today, all 50 states, Guam, Puerto Rico, the Virgin Islands, and the Canadian provinces of Alberta, British Columbia, Ontario, and Quebec have unclaimed property laws on their books. Unclaimed property

Updated October 2016 Disclaimer:  This information provided for reference only. Keane updates this information for IOFM annually; while Keane makes every effort to ensure its accuracy, unclaimed