Keane's Unclaimed Property Blog

Escheat Audits (5 articles)

Increase in Massachusetts Audits

Increase in Massachusetts Audits

Compliance, Escheat Audits, Unclaimed Property Audit

Recently, Keane noticed an uptick in unclaimed property audits initiated by the state of Massachusetts.  We wanted to bring this to the attention of holders incorporated in Massachusetts, as well as those with a physical presence in the state, so that proactive measures can be considered.  Proactive measures would include conducting an internal risk assessment […]

Read More ›

Escheatment Audit: Kelmar Associates Increasing Focus on Equity & Debt-Related Property in Enforcement Audits

Escheat Audits, Unclaimed Property Law

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 period of increased audit activity, audit notices on behalf of multiple states were sent directly to an individual at the issuer/holder or to representatives at the relevant commercial stock transfer agent.

Read More ›

Changes Looming for Unclaimed Property Auditors?

Compliance, Escheat Audits

Two items in the news have caught our attention at Keane – the first of which may have a significant impact on unclaimed property auditors and their practices. According to a recent article, members of the Delaware Legislature announced plans to introduce legislation that would prohibit commission-based contracting for unclaimed property and would forbid a […]

Read More ›

Why are Organizations Willing to Risk Escheat Audits?

Best Practices, Compliance, Escheat Audits, Unclaimed Property Audit, Unclaimed Property Reporting

At this point, you probably know that many organizations are carrying unclaimed property and are in danger of  escheat audits. But why do companies seem to be so willing to risk non-compliance? While many companies are aware of unclaimed property compliance requirements, some will just wait until they get hit with an escheat audit to […]

Read More ›

I'm looking for information on...