Keane's Unclaimed Property Blog

State Escheatment (55 articles)

Update: New State Unclaimed Property Rules For January 2010

Abandoned Property Law, Legislative Updates, State Escheatment

January 2010 was a busy month for state unclaimed property rules. A major trend across many states, which is a hindrance to corporations and holders, is the reduction in dormancy periods. Recent legislative, regulatory and legal developments that occurred during the month of January 2010 in the areas of unclaimed property law and regulation are […]

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Escheatment Rules By State Continue Changing At Rapid Pace

Abandoned Property Law, Legislative Alerts, State Escheatment

Escheatment rules by state, and unclaimed property reporting and compliance in general, are constantly changing, as you have probably noticed. The initial thought is that change complicates matters further, and usually it does. But some states, like Idaho, are giving unclaimed property holders what they need – relief from all the rules. Still, many states […]

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Unclaimed Property Compliance Becoming More Complex For Corporations In Many States

Compliance, Legislative Updates, State Escheatment

This Mississippi bill died in committee but shows how state legislators are proposing changes that make unclaimed property compliance more complicated for corporations. The bill contemplated dormancy period reductions (which would increase the amount of property escheated) as well as a host of fines and penalties. Specific details of the proposal are shared below:

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Escheatment Audit Frequency is on the Rise in Louisiana

Escheatment, State Escheatment, Unclaimed Property Audit

I’ve talked in the past about escheatment audit risk, the increased scrutiny companies are facing, and the rising state interest in unclaimed property. The bottom line is that unclaimed and abandoned property contributes a large amount of revenue to the States’…well, their top line revenue! Apropos to that, I came across a story in the Time Picayune in New Orleans, LA […]

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State escheat laws: Companies must report, but can also reap benefits

Abandoned Property, State Escheatment, Unclaimed Property

When we discuss state escheat laws in our quarterly newsletter, or when you see news regarding them in the media, it typically centers on companies’ obligation to comply or the increasing rate of state unclaimed property audits. However, the The State of Pennsylvania and State Treasurer Rob McCord issued a press release on October 8 […]

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