March 27, 2018
February 12, 2018
ARE YOU IN COMPLIANCE WITH STATES’ RETENTION LAWS?
Every state except Mississippi requires holders to maintain unclaimed property records for up to 10 years after filing. Most states’ unclaimed property record retention periods exceed the more familiar standard tax laws. Some states do not have specific requirements regarding...
January 12, 2018
IMPORTANT NEWS FROM ILLINOIS: UNCLAIMED PROPERTY HIGHLIGHTS
Earlier this year, the Illinois Revised Uniform Unclaimed Property Act was passed by the Illinois General Assembly. This was the first complete re-write of the Illinois Unclaimed Property law since the original enacted in 1961. The new law took effect...
October 31, 2017
UNCLAIMED PROPERTY POLICIES & PROCEDURES – Where does YOUR firm stand?
Many holders do not have formal written policies/procedures for managing their unclaimed property liabilities. This omission could have a negative fiscal impact in the event of an audit. One of the first things an unclaimed property auditor asks for is...
October 18, 2017
DUE DILIGENCE – ARE YOU DILIGENT?
Trying to find lost owners can be challenging, but if you have good procedures in place, you may be more successful. Below are some tips from the experts at UPCR: • Confirm the minimum dollar values required by states. •...TIME RUNNING OUT FOR HOLDERS IMPACTED BY DELAWARE’S NEW REGULATIONS
As we previously mentioned, Delaware enacted SB 13 on February 2, 2017, which was a major overhaul of its unclaimed property statute. They later amended the bill (SB 13) in June. This legislation and ensuing adopted regulations will have a...UNCLAIMED PROPERTY FALL REPORTING DUE DATES?
As you are painfully aware, time is running short to submit your Fall unclaimed property reports to all the states. If your company reports to all jurisdictions, it is even more time consuming and stressful. Just one of the confusing...
October 6, 2017
Are you new to Unclaimed Property Reporting – or just baffled by all the laws and procedures?
If you are new to – or even if you have been reporting for years, you know that AUP reporting is complicated and confusing. Each state has its own rules, dormancy periods, property type codes, and other requirements. It can...Fall Reporting Extensions for Businesses Affected by Recent Hurricanes
UPPO released this information Wednesday, October 4, 2017: In light of recent hurricanes, multiple jurisdictions have extended their fall unclaimed property reporting deadlines for affected businesses. UPPO has been working closely with NAUPA to determine details regarding these deadline extensions....
September 30, 2017