Escheatment of uncashed donation check

June 16, 2020


Q. We had a check that was a year old and we asked the associate who requested it (this was for a donation) if they could contact the vendor, since the check had been hand delivered. He told us that he didn't know how to contact them and that if they hadn't cashed it by now, that they must not have needed it; therefore, we should void and not reissue. My concern with this request is if it would be against any escheatment laws (we are still a few years away from it being escheated)? A. (Answered…

  Become A Member

Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!

Join Today

Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know. 
Ask The Expert is a member resource of IOFM and all advice provided is subject to site’s Terms of Use.

Subscribe to our Monthly Insider

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500