May 10, 2019
May 9, 2019
New Legislation Changing UP Laws for Life Insurers
Life Insurance reporting continues to become more regulated each year. In this session we will look at recently passed legislation effecting Life Insurance reporting in 2 states that will affect your 2020 life insurance reporting. UT SB70; Signed 3/21/2019,...
May 2, 2019
Colorado and Kentucky Legislation Takes on Gift Cards & Virtual Currency
While one state tightened up its law for pawnbrokers and other secondhand dealers to enhance their record keeping for gift cards and similar products, another state refined its law related to reporting virtual currency. Colorado SB14; Signed 4/8/2019, effective 8/2/19...
January 28, 2019
Tennessee “Spring Forward” to Fall AUP Reporting
Tennessee is now a Fall Reporting State! Tennessee SB 2278 (the companion bill to SB 1859) enacted on April 24, 2018, amended Section 66-29-125 of the Tennessee Unclaimed Property Act. The effect changed the reporting dates shifting Tennessee from a...
January 21, 2019
Baffled by Delaware’s new VDA Program?
We recently learned that some holders have been contacted by the State of Delaware for a “verified report” after a filing was received. This initiative is a result of the enactment of a new “Compliance Review” process that was part...
January 8, 2019
Compliance Alert – Spring Unclaimed Property Reporting Deadlines!
Just because you are finally finished with Fall unclaimed property reporting, does not mean you can sit back and take it easy. With the New Year, you need to think about the next filing season! Remember there are states that...NEW IRS RULING REGARDING REPORTING UNCLAIMED IRA’S MAY IMPACT YOU!
The IRS recently published a new Revenue Ruling 2018-17 regarding escheated IRA’s, with an effective date of January 1, 2019. This ruling now requires holders to withhold federal income tax at the 10% rate for “nonperiodic distributions” on escheated traditional...
May 4, 2018
Good News! California is considering VDA Legislation!
In February, California introduced AB-2773 which would create a Voluntary Disclosure Agreement (VDA) program. This is the first time since 2000 that California has considered any kind of amnesty, so it is welcome news to all holders if it passes....
March 27, 2018
Spring into Spring Reporting!
If you aren't already gearing up for 2018 Spring reporting, you better get a "spring in your step" to be in compliance with due diligence and remittance activities for UP reporting for the following states: CT (due 3/31 in non-leap...
February 12, 2018