Keane's Unclaimed Property Blog

State Escheatment (55 articles)

Filing Unclaimed Property Reporting Extensions

Filing Unclaimed Property Reporting Extensions

Compliance, Escheatment, State Escheatment, Unclaimed Property, Unclaimed Property Reporting

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 […]

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California Reporting Extension Due to COVID-19

California Reporting Extension Due to COVID-19

Compliance, Escheatment, State Escheatment, Unclaimed Property Reporting

Like many other states California has issued a statement related to the extension for reporting deadlines. California State Controller Betty Yee has postponed California’s unclaimed property reporting and remittance deadline due to COVID-19. California has extended the June 1 – 15 period for holders to submit their reports and remittances for properties reported on 2019 […]

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Delaware Sending Reporting Reminder Letters

Delaware Sending Reporting Reminder Letters

State Escheatment, Unclaimed Property Law, Unclaimed Property Reporting

The State of Delaware Department of Finance is sending out letters reminding organizations of their annual unclaimed property responsibility. While Delaware accepts negative or $0 reports they do not require negative reporting. It appears that these letters are targeted to holders that previously reported unclaimed property to the State of Delaware but may have discontinued […]

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Gift Card Escheatment Laws

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 […]

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