Keane's Unclaimed Property Blog

Escheatment (15 articles)

Dormant Account Escheat Rules:
When Client Accounts Become Inactive

Dormancy Periods, Escheat Consulting, Escheatment

Time and time again at Keane Unclaimed Property, advisory firms will come to us in an effort to avoid dormant account escheatment by finding a client who has essentially disappeared. Maybe they’ve moved to a new address without notifying their investment firm, perhaps they’ve removed the IRA from their brokerage account or even passed on. […]

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Spring 2010: Dormancy Periods, State Unclaimed Property Laws, & Reporting Legislative / Regulatory Updates

Abandoned Property, Abandoned Property Law, Dormancy Periods, Escheatment, Legislative Updates, Unclaimed Property, Unclaimed Property Law

State Dormancy Periods Regulations Arizona Dormancy Periods HB 2003, SB 1003 Introduced 12/17/09 This bill proposes to change the dormancy period for traveler’s checks back to 15 years from 3 years. HB 2111 Introduced 1/10/10, Engrossed 2/16/10 This bill proposes to change the dormancy period for traveler’s checks back to 15 years from 3 years. […]

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Escheatment Audit Frequency is on the Rise in Louisiana

Escheatment, State Escheatment, Unclaimed Property Audit

I’ve talked in the past about escheatment audit risk, the increased scrutiny companies are facing, and the rising state interest in unclaimed property. The bottom line is that unclaimed and abandoned property contributes a large amount of revenue to the States’…well, their top line revenue! Apropos to that, I came across a story in the Time Picayune in New Orleans, LA […]

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Escheatment laws remain a hot topic at state and Federal levels

Abandoned Property, Escheat Law, Escheatment

We’ve been discussing a couple of recent news items related to escheat laws that really drive home the risk management issues associated with unclaimed, abandoned or escheated property. The first story is from The Times Picayune in New Orleans, LA. Benny Spann, director of the Unclaimed Property Division of the state’s  Treasury Department details Louisiana’s escheatment audit and unclaimed property efforts. […]

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California Escheatment Guidance Aids Holders Reporting Unclaimed Property

Escheat Law, Escheatment, State Escheatment, Unclaimed Property Reporting

Because reporting unclaimed property is such a hot topic in California, escheatment guidance and holder education are high priorities for the state. To help companies follow the state’s unique and complex reporting requirements they issue a Holder Outreach newsletter on their website. It provides tips, alerts, and instructions that typically detail or highlight the nuances between California escheatment […]

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