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Surprise Changes to the Pennsylvania Unclaimed Property Act

Surprise Changes to the Pennsylvania Unclaimed Property Act

Compliance, Legislative Alerts

Surprise changes were made to the Pennsylvania Unclaimed Property Act as House Bill 1605 was amended, passed by both the House and Senate, and signed into law on July 13, 2016. The bill not only adds due diligence requirements, but also repeals the statutory requirements addressing IRAs that were enacted in 2014 and replaces them with novel provisions not used in any other state.

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Uniform Law Commission Passes Revisions to the Uniform Unclaimed Property Act

Uniform Law Commission Passes Revisions to the Uniform Unclaimed Property Act

Compliance, Unclaimed Property Reporting

In their 2016 annual meeting on July 13, 2016, the Uniform Law Commission (“ULC”) voted favorably on the revisions to the Uniform Unclaimed Property Act.  The ULC’s action is the culmination of almost 3 years of work by a committee of fourteen (14) Commissioners appointed by the ULC.  The committee, called the Revisions to the […]

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