Keane's Unclaimed Property Blog

Escheat Audits, Other News, Unclaimed Property Law

The corporate securities industry is under audit by Kelmar Associates Compliance Update: July 2017 Kelmar Associates has been retained as the third-party auditor initiating a recent surge in multi-state examinations that has taken place in recent weeks. These unclaimed property audits of public corporations are specific in scope to securities or equity-related property. During this […]

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Compliance, Legislative Alerts

Illinois unclaimed property law was drastically overhauled with the passage of IL Senate Bill 9 on July 6, 2017. IL SB 9 makes numerous changes to current Illinois unclaimed property law, including eliminating exemptions and reducing dormancy periods on certain property types. The new law brings to mind a previously introduced bill, IL HB 2603, […]

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Compliance

Unclaimed property voluntary disclosure programs are excellent opportunities for holders to become compliant without fear of an audit, fines, and penalties. Keane’s National Consulting & Advisory Services Team has provided information below on recent programs in Arkansas, Delaware, Minnesota & Texas.

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Compliance, Legislative Alerts

Delaware seeks to extend the deadline to promulgate and adopt regulations regarding estimation until December 1, 2017. The state has also offered a new incentive for holders that enroll in the expedited unclaimed property audit process.

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Compliance, Legislative Alerts

Life insurance companies operating in Texas will be required to comply with beneficiary location requirements with the passage of TX S 561. The bill, effective on September 1, 2017, gives Texas life insurance carriers roughly 90 days to prepare themselves for the upcoming deadline.

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