Unclaimed Property Audit (43 articles)
Keane has received notification from the Delaware Secretary of State’s office that in 2 weeks it will be mailing notices to holders whom it believes to be non-compliant with Delaware escheat law. Holders will have 60 days from mail date to enroll in the SOS VDA program or risk referral to State Escheator for examination. Below is the full text of the notification.
Almost a year after a U.S. District Court dismissed a case brought by Plains All American Pipeline LLC against Delaware for its use of a contingency fee auditor (Kelmar Associates), a U.S. Court of Appeals held that Plains’ procedural due process claim was ripe for review and remanded the case to federal district court. Here’s the latest on this litigation.
Keane has provided the Top 10 reasons why holders should enroll in the Delaware Unclaimed Property VDA Program. While this program has already seen a tremendous response rate, many companies have still not yet enrolled and risk the likelihood of facing an audit from the Delaware State Escheator.