Keane's Unclaimed Property Blog

Compliance (274 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.

IRS Ruling: Escheatment of Traditional IRA Distributions Subject to Federal Income Tax Withholding Rules

IRS Ruling: Escheatment of Traditional IRA Distributions Subject to Federal Income Tax Withholding Rules

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.

Read More ›


Page 1 of 5512345...102030...Last »

I'm looking for information on...