The State of Delaware Department of Finance sent out letters for verification of organizations annual unclaimed property responsibility in 2019. These letters are targeted to holders that previously reported unclaimed property to the State of Delaware but did not submit a 2019 report which was due on March 1, 2020. While Delaware accepts negative or […]
Unclaimed Property Reporting (177 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.
The unclaimed property environment within the United States and Canada is ever-changing with amended legislation as well as statutory, administrative, and regulatory requirements. When considering the variations in regulations and legislation no two states, nor two provinces, are exactly the same—providing a broad spectrum of compliance requirements. Despite the lack of uniformity across states and […]
As many companies were, and continue to be, impacted by COVID-19 an increased need for unclaimed property reporting extensions has occurred. We believe this increase occurred due to physical office closures and competing priorities as business continuity and employee safety became more important. Keane has been filing for extensions as needed for clients whom we […]
Texas has issued a statement related to the due diligence requirements for the 2020 unclaimed property reporting cycle as a result of COVID-19. Holders who have trouble meeting the due diligence requirements due to COVID-19 will be provided additional time to send notice to owners (see below). Holders may use alternative means to provide notice […]