DELAWARE SOS VDA PROGRAM UPDATED – Notably a Time Sensitive Conversion for Audit to a VDA
The Department of State (“DOS”) updated the SOS VDA Program with the following:
- SOS VDA Website – DOS updated the Abandoned or Unclaimed Property SOS VDA Program website. The website, which includes the SOS VDA Program steps, forms, and frequently asked questions, can be accessed via the following link. http://vda.delaware.gov/
- SOS VDA Estimation Regulations – The SOS VDA Estimation Regulations were finalize as of July 1, 2017. Please see the following link for a copy of the finalized regulations. http://vda.delaware.gov/laws-guidelines/
- SS1 SB 79 – This bill was signed into law by Governor Carney on Thursday, June 29th. Please see the following link for details associated with the bill. http://vda.delaware.gov/laws-guidelines/
- Conversion Form – Any Holder currently under examination that received a Notice of Examination from the State Escheator on or before July 22, 2015, except any securities examinations in which estimation is not required, may convert the pending examination into a VDA. Holders must file an executed copy of a Notice of Intent to Convert (“NOI”) within 60 days of the adoption of the Department of Finance regulations. Please note that the Department of Finance regulations are not yet finalized. http://vda.delaware.gov/convert-audit-to-a-vda/
- Enrollment in SOS VDA Program – This is a reminder that DOS is accepting enrollment of Holders into the SOS VDA Program. A Holder may enroll in the SOS VDA Program by completing Form VDA-1. Please note the new email and mailing address for the submission of Form VDA-1. This information can be accessed via the following link. http://vda.delaware.gov/steps-to-vda/