Friday Lost + Found
IRS Holding $1.4B in Unclaimed Refunds -- According to CBS News the Internal Revenue Service has announced that it has approximately $1.4 billion in unclaimed tax returns for more than a million...
View ArticleArkansas Passes Law For Immediate Liquidation of Unclaimed Securities
Recently, we posted an article addressing the potential pitfalls to owners arising out of certain state's treatment of "unclaimed" securities account. In that article, we noted abill pending in...
View ArticleIs "True Escheat" The Future of Unclaimed Property?
Nevada is considering a bill"providing that all property rights and legal title to, and ownership of" of U.S. savings bonds would "vest in this State" after three years. After that three year period,...
View ArticleColorado Passes Version of 2016 Uniform Unclaimed Property Act
New Legislation, Which Reduces Many Dormancy Periods To 3 Years, Is Effective July 1, 2020 On April 16, 2019, Colorado Governor Jared S. Polis signed Senate Bill 19-088 into law, which adopts a...
View ArticleNevada Passes 2016 Uniform Act Amendments
On June 7, 2019, Nevada Governor Steve Sisolak approved Senate Bill 44 which incorporates certain provisions of the 2016 Uniform Unclaimed Property Act into the Nevada Unclaimed Property Act. In...
View ArticleIt’s the Big White Building With the Ionic Columns and the Statue of...
An Exercise in Finding the Owners of Unclaimed Property One of the theoretical policy justifications for state unclaimed property laws is that the states will be conscientious about finding missing...
View Article2020 Vision: A Look at the Year Ahead in Unclaimed Property
Happy New Year! Last year saw a variety of developments in the world of unclaimed property. Today, we take a look ahead at five topics that might be at the forefront of unclaimed property news in...
View ArticleMaine Amends Unclaimed Property Act to Exempt Gift Obligations Beginning in 2022
Amounts deemed abandoned to reduce from 60% to zero over four year period. On January 30, the Governor of Maine signed Public Law 553, “An Act Regarding the Presumption of Abandonment of Gift...
View ArticleAn Offer You Might Not Want to Refuse
Delaware Secretary of State Issues VDA “Invitation” Notices The Delaware Secretary of State’s Office recently sent letters to over 100 companies identified as “likely” out of compliance with...
View ArticleCertain Spring Reporting Deadlines Automatically Extended Due to COVID-19
Like other business operations, many holders have found that the COVID-19 crisis has caused a disruption to the process of reporting and remitting of unclaimed property, particularly in those states...
View ArticleHolders: Don't Forget That You're Owners Too
Unclaimed Property Holders Should Take Another Look at Potential Claims Before getting to unclaimed property news, just a quick word to our readers (both of you!): we hope that you and your families...
View ArticleUnclaimed Property on the Ballot in Louisiana
Constitutional Amendment Would Create Unclaimed Property Trust Fund to Pay ClaimsYou may not have heard, but this year is an election year. In addition to contests at the federal, state, and local...
View ArticleDelaware State Court Enforces Unclaimed Property Subpoena - Case Headed Back...
The unclaimed property saga arising out of the State of Delaware’s unclaimed property audit of Univar, Inc. took another turn recently when the Delaware Court of Chancery issued a ruling enforcing a...
View ArticleFinder. Keeper.
Some Thoughts on Unclaimed Property Asset RecoveryAn often overlooked aspect of unclaimed property law is the fact that most unclaimed property holders are also unclaimed property owners. The same...
View ArticleNew Jersey Unclaimed Property Regulations Up For Public Comment
Under New Jersey law, administrative regulations expire automatically after 7 years unless they are re-adopted. NJSA 52:14B-5.1. Pursuant to that rule, New Jersey’s administrative regulations relating...
View ArticleDelaware Reporting Update: State Advises of Change to Bank Account...
The Delaware Office of Unclaimed Property recently announced that its wire and ACH payment instructions are changing in advance of the upcoming March 1, 2021 annual reporting deadline. Holders...
View ArticleUnclaimed Property Due Diligence - The Case for Doing More
In most companies and financial institutions, unclaimed property compliance is treated as an ancillary operational responsibility unrelated to the “business” of the firm. After all, as with many...
View ArticleCalifornia Unclaimed Property Regulator Suffers Hack
As if there weren't enough reasons for businesses and individuals to proactively search for and recover their unclaimed property, add increased information security to the list....According to an...
View ArticleUnclaimed Property 101 - Part 1
Welcome to Unclaimed Property 101 - An Introduction to Unclaimed Property. For regular unclaimed property professionals, this is just a refresher. Really, these posts are intended for you if you...
View ArticleNorth Dakota Passes Revised Uniform Unclaimed Property Act
On April 20, North Dakota became the most recent state to enact a version of the Revised Uniform Unclaimed Property Act (2016). The new law, which takes effect on July 1 does not overhaul the state's...
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