Unclaimed property compliance has been on the rise since the early 2000s. Many companies are aware of state unclaimed property laws, programs, and annual filing requirements. State auditors, third party audit firms, and amnesty programs such as voluntary disclosure agreement (“VDA”) have also contributed to the increase in compliance. VDA programs allow companies to become […]
Escheatment (15 articles)
Abandoned Property, Abandoned Property Law, Compliance, Dormancy Periods, Escheat Law, Escheatment, Gift Card Escheatment, State Escheatment, Unclaimed Property, Unclaimed Property Law, Unclaimed Property Reporting
Update 2019: Are gift cards escheatable? Unfortunately, the answer is not simple as each state and territory have different unclaimed property laws regarding gift cards and the time before escheatment. These differences in state laws impact gift card breakage, the revenue companies gain through unredeemed gift cards. The Electronic Funds Transfer Act and the Consumer […]
Are you interested in learning some of the key concepts of New York escheat and unclaimed property laws? Have a specific question about reporting, auditing or compliance? This page gives you key information pertaining to New York State escheat laws including reporting & compliance.
March 30, 2011 Nevada unclaimed property, from casinos, could bring the state millions. When gamblers step into casinos, especially in Nevada, they’re looking to win big bucks. Typically, these gamblers don’t bother redeeming the low-value payout tickets dispensed from cashless slot machines or other electronic games. However, if they cashed in those tickets each time […]
Reporting unclaimed property in Indiana? If so, pay attention! Today, February 28, 2011, is the deadline for unclaimed property reports under the Indiana Amnesty Program. Early last fall, the Office of the Indiana Attorney General instituted a one-time only unclaimed property amnesty program to help organizations holding unclaimed property come into compliance with the Unclaimed […]