Keane has provided answers to some of the most frequently asked escheat reporting questions (and a running countdown clock) to help your organization survive the upcoming fall reporting season.
The California Superior Court held that the guidance issued by the Controller’s Office in its unclaimed property holder handbook amounted to improperly promulgated regulations under the California Administrative Procedure Act, which requires a public comment period, and were therefore unenforceable.
Below is a map of states that currently have passed or proposed legislation to adopt policies similar to the Unclaimed Life Insurance Benefits Act. We will continue to update this map as additional states propose or pass similar legislation.
Compliance, Legislative Alerts
Originally introduced in February 2017 as a drug and alcohol dependency bill, Illinois H 3806 was amended on May 31, 2018, and would revise the banking provisions in the Illinois Revised Uniform Unclaimed Property Act. If passed, the provisions of the bill would become effective immediately.
Compliance, Unclaimed Property Reporting
This post details an unclaimed property reporting calendar for holders to follow month-by-month. Keane has utilized this timeline to file annual reports on behalf of our hundreds of reporting clients in an efficient and streamlined manner.
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