The Spring 2018 Escheat Season Starts in the Fall. It's never too early to start preparing.Webinar - November 15 at 2PM Eastern
Compliance, Legislative Alerts
On October 1, 2017, the Delaware Department of Finance released the final unclaimed property reporting and examination regulations, effective October 11, 2017, with final regulations not differing from those proposed in August. Select holders currently under audit will have 60 days to convert their audit into a VDA or the expedited audit process.
Compliance, Public Corporations
The appellate division of the New Jersey Superior Court’s decision regarding unclaimed merchandise return certificates may have far-reaching impacts on the escheatment of gift instruments and the retail industry as a whole.
Compliance, Public Corporations, Unclaimed Property Audit
Keane has received notification from the Delaware Secretary of State’s office that in 2 weeks it will be mailing notices to holders whom it believes to be non-compliant with Delaware escheat law. Holders will have 60 days from mail date to enroll in the SOS VDA program or risk referral to State Escheator for examination. Below is the full text of the notification.
Compliance, Legislative Alerts
Life insurance companies in New Jersey are now required to comply with new beneficiary location regulations with the passage of AB 2511. The bill, effective on March 1, 2018, requires insurers to use the federal Death Master File (DMF) when identifying potential matches of insureds or account holders to confirm death and locate beneficiaries.
The likelihood of facing an unclaimed property audit from multiple states and their third-party contingent fee auditors is at an all-time high. We have provided a few helpful Dos and Don’ts that should be taken into account before, during, and after you receive an unclaimed property audit notice.
