Washington State recently announced that unclaimed property holders will have an opportunity to avoid penalties and interest for any past-due property through their voluntary compliance program. Qualified holders can forego penalties for prior unreported periods as long as they report and remit payment for outstanding unclaimed property before November 1, 2017.
Unclaimed Property Reporting (155 articles)
With 55 domestic reporting jurisdictions – and little uniformity from one to the next – it can be a daunting task for companies to handle their unclaimed property reporting. For example, some jurisdictions require reports in the fall – others want them in the spring. Dormancy periods vary by property type and which jurisdiction you’re reporting to. Furthermore, unclaimed property laws are constantly changing. On this page you’ll find best practices for correctly reporting unclaimed property.
Despite the best of intentions, many organizations fall victim to the complexities and difficulties of unclaimed property reporting. With this in mind, how many of these unclaimed property reporting pain points is your organization currently experiencing?
Keane recently received communication from state personnel regarding new requirements for reporting securities-related unclaimed property in both California and New York. Properly escheating securities is one of the more complex aspects of the annual compliance and reporting process, as it requires additional steps not applicable for general ledger property types. Updated reporting and remittance instructions for both jurisdictions are outlined […]
The Pennsylvania unclaimed property reporting deadline is fast approaching – with newly reduced dormancy periods in effect. Keane’s team of unclaimed property experts provide an overview of the escheat reporting process in the Keystone state, and what can be done if you’re unable to meet the April 15 deadline.