Keane's Unclaimed Property Blog

Unclaimed Property (47 articles)

Accounting for Unclaimed Property

Abandoned Property, Compliance, Unclaimed Property, Unclaimed Property Law, Unclaimed Property Reporting

Escheatment is the process of remitting an asset to the state of the address of record as unclaimed property. When not correctly managed and reported, the historic unclaimed property liability coupled with the risk of state audits – and subsequent fines and penalties for non-compliance – become material to your annual reviews, findings, and ultimate opinions. And, given the […]

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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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Now Available: KeaNotes Unclaimed Property Newsletter – Winter/Spring Edition

Now Available: KeaNotes Unclaimed Property Newsletter – Winter/Spring Edition

Compliance, Other News, Unclaimed Property

KeaNotes – our premier unclaimed property newsletter is now available! Our Winter/Spring 2014 issue of KeaNotes is packed with the latest industry news, unclaimed property trends, and compliance updates from Keane’s team of unclaimed property experts. On the cover of our unclaimed property newsletter is a question facing many insurance carriers today, “To GRA, or […]

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How Will South Dakota Utilize Their Unclaimed Property Revenue?

How Will South Dakota Utilize Their Unclaimed Property Revenue?

Other News, State Escheatment, Unclaimed Property

Reduced dormancy periods and the relocation of several banking corporations influenced an additional $68.5 million that contributed to South Dakota’s unclaimed property revenue this past year. With the increased unclaimed property revenue, South Dakota Governor Dennis Daugaard has developed programs to utilize the revenue and would like to see state legislators reconsider a new arrangement […]

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