News & Analysis as of

Escheaters Never Prosper, Lord Grantham: Handling Unclaimed Employee Funds

While renewing my license plates online with Indiana’s Bureau of Motor Vehicles (yes, bureau, not department), I saw an advertisement for the Indiana Attorney General’s Unclaimed Property Division, IndianaUnclaimed.gov. On a...more

Delaware Unclaimed Property Voluntary Disclosure Program Extended to September 30

Delaware collects more than $600 million a year in unclaimed property, and many companies are wholly unaware of their annual reporting obligations. However, those still facing Delaware unclaimed property exposure are in luck....more

Gavel to Gavel: Failure to report costly

Employers have many reporting requirements, but there is one many overlook – the Unclaimed Property Act, Oklahoma Statute title 60, §§ 651 et seq. The statute requires that a person holding property, tangible or intangible,...more

Unclaimed Property Reporting - Are You In Compliance?

Most states require the holder of “abandoned” or “unclaimed” property to report (and remit) such property after the expiration of a certain number of years (the “holding period”). These “escheat” laws generally apply to any...more

Reed Smith Hosts Q & A on Unclaimed Property With Delaware Secretary of State – Audits to Begin Again on February 1

For more than an hour on January 8, Delaware Secretary of State Jeffrey Bullock and an attorney administering the new program, Geoffrey Sawyer, took questions from Sara Lima and Michael Wynne of Reed Smith’s State Tax Group....more

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