Keane's Unclaimed Property Blog

Compliance (309 articles)

Most state estimates suggest that only 15 to 35 percent of companies are in full compliance with unclaimed property laws, and even those who are in compliance technically may be underreporting because they aren’t correctly interpreting what the law requires. Here you will find best practices and articles to help you comply with unclaimed property rules and regulations.

Delaware 2019 Reporting Verification Letters

Delaware 2019 Reporting Verification Letters

Compliance, Unclaimed Property Law, Unclaimed Property Reporting

The State of Delaware Department of Finance sent out letters for verification of organizations annual unclaimed property responsibility in 2019.  These letters are targeted to holders that previously reported unclaimed property to the State of Delaware but did not submit a 2019 report which was due on March 1, 2020, for all companies except banking […]

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Canadian Unclaimed Property Environment: Requirements for American & Canadian Holders

Canadian Unclaimed Property Environment: Requirements for American & Canadian Holders

Unclaimed Property Law, Unclaimed Property Reporting

The unclaimed property environment within the United States and Canada is ever-changing with amended legislation as well as statutory, administrative, and regulatory requirements. When considering the variations in regulations and legislation no two states, nor two provinces, are exactly the same—providing a broad spectrum of compliance requirements.  Despite the lack of uniformity across states and […]

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Increase in IL and DC Audits Likely

Increase in IL and DC Audits Likely

Compliance

In a previous blog post we discussed how in times of economic downturn, unclaimed property has historically been a way for the states to fill budget gaps through various measures. Recent activity by Illinois and Washington D.C., detailed below, lends credit to this theory by indicating that IL and DC will soon be increasing audit […]

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