New York Unclaimed Property: Compliance & Reporting
In 2025, New York unclaimed property reporting will undergo significant changes. In this post, we'll explore the items business owners need to be aware to remain compliant and avoid penalties. They include the transition to the Kelmar Abandoned Property System (KAPS), enhanced enforcement efforts, and new regulatory measures. We'll also...
Understanding Escheatment Laws for Spring Filing States
Escheatment laws require businesses to report and turn over unclaimed property—such as uncashed checks, unclaimed insurance benefits, or dormant bank accounts—to the state after a certain period of inactivity. These abandoned property laws protect consumers while ensuring unclaimed assets are properly accounted for. For businesses, compliance with escheatment laws is...
Delaware Secretary of State Set to Dispatch VDA Invitations on November 15, 2024
As the state of Delaware remains committed to managing unclaimed property compliance, they are taking a proactive step forward with the announcement of its upcoming Delaware Voluntary Disclosure Agreement (VDA) invitations, scheduled for release on November 15, 2024. This initiative underscores the state’s approach to facilitating corporate responsibility in the...
Guide to Unclaimed Property Audits, Compliance & Fall Reporting Deadlines
While we bask in the warmth of summer, it's hard to believe that fall, with its shorter days and cooler temperatures, is just around the corner. More than just the season for pumpkin spice and cozy sweaters, autumn is a crucial time for finance and compliance professionals, marking the onset...