Keane's Unclaimed Property Blog

Unclaimed Property Law (49 articles)

New Jersey Unclaimed Property Update: Almost Full Circle for Gift Cards?

Legislative Alerts, Unclaimed Property Law

Legislation eliminates requirement that gift card issuers/merchants obtain consumer data. On February 5, 2015, New Jersey Governor Chris Christie signed into law Senate Bill 2235 which repeals the otherwise upcoming requirement that gift card issuers/merchants, when selling gift certificates or cards in New Jersey, obtain the name and address of the purchaser (at a minimum the zip code […]

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Delaware Senator Discusses Reform Bill and Potential Subsequent Legislation

Legislative Alerts, Unclaimed Property Law

During a Delaware Public Media interview (Radio WDDE 91.1 FM) on January 20, Delaware Senator Bryan Townsend provided insight into Senate Bill 11 (SB 11) which addresses many of the recommendations from the final report of the Unclaimed Property Task Force (UPTF) he co-chaired in Fall 2014.  As co-sponsor of the bill, Townsend indicated that […]

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Pennsylvania’s Newly Enacted Roth IRA Provision Departs From Traditional Requirements

Legislative Updates, Unclaimed Property Law

The new Pennsylvania law established by HB 278 and signed by the Governor on July 10, 2014, adds a provision that specifically addresses Roth IRAs which is unlike any other state’s provision. Most states do not have a statutory provision specifically requiring the escheatment of Roth IRAs. Roth IRA Escheatment The typical statutory provision addressing […]

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Pennsylvania Dormancy Period Reductions Effective Immediately

Dormancy Periods, Legislative Updates, Unclaimed Property Law

Following the passage of House Bill 278 last week, the provisions reducing Pennsylvania’s dormancy periods for all property types became immediately effective. Pennsylvania Unclaimed Property Law Changes Pennsylvania House Bill 278 was signed into law by Governor Corbett on July 10, 2014 and provides significant changes to Pennsylvania’s unclaimed property laws. While the Treasurer’s office […]

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Changes May Be on the Horizon for Pennsylvania Unclaimed Property Regulations

Legislative Alerts, Unclaimed Property Law

New requirements have been proposed that will impact Pennsylvania unclaimed property laws and holder’s obligations following an amendment to an existing bill. House Bill 278 was amended on July 1, 2014 and proposes significant changes to the state’s unclaimed property law and audit environment. About the Pennsylvania HB 278 Amendment The bill seeks to amend […]

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