Keane's Unclaimed Property Blog

Compliance, Legislative Alerts

Under a recent Internal Revenue Service Ruling, the escheatment of payments made from a traditional IRA account to the state’s unclaimed property fund constitutes a designated distribution that is subject to federal tax withholding rules for IRAs. The trustee or custodian of the IRA must also report those payments on a 1099-R, identifying the owner as the recipient.

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Compliance, Unclaimed Property Reporting

The fall unclaimed property filing deadlines may be months away, but we’re already looking ahead and making our preparations. This unclaimed property reporting calendar will serve as a guide to approach the months ahead of the upcoming October and November deadlines.

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Compliance, Unclaimed Property Reporting

Even for the most seasoned professionals, the annual unclaimed property reporting process is not without its pitfalls. With 55 individual jurisdictions and varying state escheat laws, there are plenty of potential mistakes to avoid. While the list below is not exhaustive, here are some of the most common unclaimed property reporting errors to which many […]

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Compliance

Individuals tasked with bringing their organization into compliance for the first time would be best suited by implementing a comprehensive unclaimed property compliance program serving as the foundation for ongoing reporting and compliance efforts. Here’s how to get started.

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Compliance, Unclaimed Property Reporting

The unclaimed property experts at Keane answer the questions asked by your peers during our recent webinar, “Unclaimed Property Reporting: Best Practices for Compliance”.

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