Keane's Unclaimed Property Blog

Unclaimed Property (54 articles)

State escheat laws: Companies must report, but can also reap benefits

Abandoned Property, State Escheatment, Unclaimed Property

When we discuss state escheat laws in our quarterly newsletter, or when you see news regarding them in the media, it typically centers on companies’ obligation to comply or the increasing rate of state unclaimed property audits. However, the The State of Pennsylvania and State Treasurer Rob McCord issued a press release on October 8 […]

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Courts will decide if state escheatment rules cover unclaimed WWII war bonds

Abandoned Property, Escheat Law, State Escheatment, Unclaimed Property

An interesting article regarding state escheatment rules is circulating today. It is just the latest front in the States’ continuing battle to collect unclaimed and abandoned property. Covered here by the Los Angles Times, the short version of the story is this – there are some $16.7 billion in war bonds from World War II […]

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DE abandoned property law drives revenue (and risk)

Abandoned Property, Best Practices, Unclaimed Property

I recently learned about some interesting statistics regarding Delaware’s abandoned property law that helps illustrate what unclaimed property means to state budgets. It also shows why companies are facing an increased risk of unclaimed or abandoned property audit. This is an issue I have discussed in the past – as the states face tighter budgets […]

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Escheatment, gift cards hot topic in CA and elsewhere

Unclaimed Property

Another state recently introduced new legislation to increase revenues by modifying how escheatment, gift cards, and dormancy periods are managed. Specifically, California introduced bill CA A77c on July 16, 2009. This bill proposes removing the exemption for the escheat of gift certificates and gift cards.  The unclaimed property law would now apply to all unredeemed gift certificates and […]

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