Every state, U.S. territory, and some Canadian provinces have unclaimed property laws and annual reporting requirements. Holders must report and remit property to the state of the owner’s last known address. For example, if a company located in Colorado has a customer’s address of record in New Mexico, the property must be reported to the state of New Mexico. Nexis is not a considering factor in Unclaimed Property law.
Ohio’s unclaimed property program is making headlines—and not for the usual reasons. A recent proposal to allocate $600 million from the state’s unclaimed property fund toward building a new stadium...
The Texas Comptroller has returned over $4 billion in Texas unclaimed property. While that number reflects successful reunification efforts, it also signals a significant compliance burden for businesses and institutions....
If your organization holds funds that belong to someone else—uncashed checks, unclaimed refunds, dormant accounts—you may be legally required to report and remit those assets to the State of Michigan....