Keane's Unclaimed Property Blog

Compliance, Escheatment, State Escheatment, Unclaimed Property, Unclaimed Property Reporting

As many companies were, and continue to be, impacted by COVID-19 an increased need for unclaimed property reporting extensions has occurred. We believe this increase occurred due to physical office closures and competing priorities as business continuity and employee safety became more important. Keane has been filing for extensions as needed for clients whom we […]

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Compliance, Legislative Alerts, Legislative Updates

The introduction of the 2016 Revised Uniform Unclaimed Property Act (RUUPA) by the Uniform Law Commission has prompted state legislatures to review their often antiquated unclaimed property laws, and in many cases introduce legislation to amend or wholly revise these laws. In addition to RUUPA, state legislators may now also refer to the American Bar […]

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Compliance, Unclaimed Property, Unclaimed Property Reporting

Texas has issued a statement related to the due diligence requirements for the 2020 unclaimed property reporting cycle as a result of COVID-19. Holders who have trouble meeting the due diligence requirements due to COVID-19 will be provided additional time to send notice to owners (see below). Holders may use alternative means to provide notice […]

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Compliance, Escheatment, State Escheatment, Unclaimed Property Reporting

Like many other states California has issued a statement related to the extension for reporting deadlines. California State Controller Betty Yee has postponed California’s unclaimed property reporting and remittance deadline due to COVID-19. California has extended the June 1 – 15 period for holders to submit their reports and remittances for properties reported on 2019 […]

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Oil & Gas, Unclaimed Property Audit, Unclaimed Property Law

By: Gary Joseph and Cornel Lupu The inherent unclaimed property exposure risk associated with mergers and acquisitions (“M&A”) is nothing to ignore. Many companies have found themselves the unfortunate inheritors of past due unclaimed property obligations that were not accounted for throughout purchase negotiations. The main M&A transactions are stock or asset acquisition. The acquired […]

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