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, the next step for DE SOS is to forward your company name to the DE Department of Revenue to commence an DE AUP audit. The Dept. will assign the audit to a third-party audit firm to audit your company for the past 10 report years of unclaimed property compliance.
Even if you do not believe your company is at risk, you need to ask yourself this question: “why did we receive this letter?”. It’s been our experience with other companies that “something” triggered the state to target your company for this notice.
If you receive a DE SOS VDA letter or have AUP Compliance questions, contact UPCR for a no-cost consult. We are Escheat Compliance Experts!!