Category: Unclaimed Property Law

PA Unclaimed Property Reporting: Key Rules, Regulations, and Recent Updates 

Unclaimed property reporting is essential for compliance with state regulations, ensuring that lost or forgotten assets are returned to their rightful owners. Pennsylvania's unclaimed property laws, governed by the Disposition of Abandoned and Unclaimed Property Act (DAUPA), have specific nuances that set them apart from other states. This blog post...

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Understanding Escheatment Laws for Spring Filing States

Escheatment laws require businesses to report and turn over unclaimed property—such as uncashed checks, unclaimed insurance benefits, or dormant bank accounts—to the state after a certain period of inactivity.  These abandoned property laws protect consumers while ensuring unclaimed assets are properly accounted for. For businesses, compliance with escheatment laws is...

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Nevada Unclaimed Property Law Changes Create Chaos for Holders

The Nevada Treasurer's Office has issued a notice that the new dormancy standards set forth in Assembly Bill 55 will apply to the 2023 reporting cycle, even though the Nevada unclaimed property law's effective date is July 1, 2023. This has created several implications for holders of unclaimed property in...

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California’s Voluntary Compliance Program for Unclaimed Property: What You Need to Know.

What is California’s Voluntary Compliance Program? Overview: California has established a voluntary compliance program for unclaimed property. Holders of unclaimed property who participate in the program may have interest waived on the property due to the state. To be eligible for the program, holders of unclaimed property must comply with...

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Unclaimed Property Reporting and Acquisition Transactions in Focus at 2023 UPPO Annual Conference

The 2023 UPPO Annual Conference is the premier event for unclaimed property professionals, and this year's conference in Nashville promises to be better than ever. With expert speakers and informative sessions, attendees can expect to learn about the latest trends, best practices, and strategies to stay ahead of the curve....

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Delaware Voluntary Disclosure Agreement Program News

Delaware is once again stepping up its enforcement and sending targeted letters to companies inviting them to enroll in the Delaware Voluntary Disclosure Agreement program. According to the current process, DE can not call an audit without first giving an opportunity for a company to voluntarily enroll in their Voluntary...

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DE SOS Notifying 200 Companies to Enroll in AUP VDA Program

Following protocol, DE SOS VDA Administration is notifying 200 companies in another round of DE VDA notification letters. If your company receives a letter encouraging your company to undergo an unclaimed property self-audit review and enrollment in the DE VDA Program, do not ignore it. If you do not respond,...

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