Keanotes

Looking for escheat laws for each state? Get started with our guide to state unclaimed property laws.

Subscribe to Keanotes®: Stay Up to Date with Unclaimed Property News, Laws and Trends

Escheat laws by state can be difficult to keep track of, as no two states interpret unclaimed property in the same way. State escheatment laws can differ based on a variety of factors, including property type, dormancy period, and compliance requirements, among other factors.

Keanotes®, our industry leading compliance journal, eases the burden of tracking the various escheat laws by state by providing an in-depth view and analysis of unclaimed property regulations and state escheatment laws. Keanotes also includes editorial coverage of ongoing legislation changes, legislative summaries of escheat rules by state, guest columnists from state and industry professionals, Q&A sessions, continuous interpretation and recommendations to effectively comply with unclaimed property laws while increasing your company’s bottom line.

The compliance experts at Keane can help to keep you up to date the various escheat laws by state by providing real-time alerts when significant changes are made to unclaimed property regulations and state escheatment laws. Subscribers to Keane’s Unclaimed Property Compliance Portal will also receive access to view additional details on the legislative change, including a summary of the legislation and an analysis of its impact.

Click on the button below to register for Keanotes®. You’ll receive a notification when new issues are published and real-time alerts for changes in escheat laws by state. For information on subscribing to Keane’s Unclaimed Property Compliance Portal, please visit www.keanecompliance.com.

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Contents of Latest Issue

An Interview with the Delaware State Escheator

As presented by Brenda Mayrack, Delaware State Escheator

At this year’s Keane Client Connection in Philadelphia, Delaware State Escheator Brenda Mayrack addressed the audience of Keane clients and industry colleagues, providing insight into her goals for her Office and the State’s unclaimed property program as a whole.

IRS Revenue Ruling 2018-17 Update

By Angela Gholson Tamhane, Chief Compliance Officer

Under IRS Revenue Ruling 2018-17 the escheatment of traditional IRA accounts to the states’ unclaimed property fund constitutes a designated distribution that is subject to federal tax withholding rules for IRAs.

Bankruptcy: New Terrain in Unclaimed Property

By Gary Joseph, MBA, CIA Senior Manager and Ann Fulmer, CPA, CFE Consulting Practice Leader

As a result of states pursuing “released” obligations post-bankruptcy via third party audit, many holders, specifically those in the oil and gas arena, have been assessed millions of dollars in penalty and interest due to “non-compliance” with State Unclaimed Property Law prior to the petition date.

A Comparison of the 3 Unclaimed Property Uniform Models

Heather Gabell, J.D., Director of Compliance

Keane provides a comparison of key RUUPA provisions against two emerging model acts in the wake of RUUPA negotiations: the American Bar Association’s Model Act (ABA Model Act), which was finalized in January 2018, and the draft revisions to RUUPA prepared by the National Association of Unclaimed Property Administrators (NAUPA).

Litigation Update

By Heather Gabell, J.D., Director of Compliance

Keane provides an update on key decisions for court cases that have recently had an impact on the unclaimed property industry.

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