News & Analysis as of

Voluntary Disclosure Agreement

Kilpatrick

5 Key Takeaways | 2024 Emerging Trends: Delaware Unclaimed Property VDA and Multistate Audits

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Kilpatrick’s David Hughes and Jordan Goodman recently joined BDO for a discussion of trends around state unclaimed property enforcement measures, including audits, voluntary disclosure agreements, and other outreach...more

Eversheds Sutherland (US) LLP

Unclaimed property hot topics: What you need to know in 2024

Unclaimed property examinations and new types of regulatory inquiries will pose major challenges for US companies in 2024. Not only are states pushing ahead with more examinations, but many states are using new techniques to...more

WilmerHale

Department of Justice Issues Voluntary Self-Disclosure Policy for Corporate Criminal Enforcement Applicable to U.S. Attorneys’...

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On February 22, 2023, the Department of Justice (DOJ) issued a Voluntary Self-Disclosure Policy (VSDP) which, effective immediately, applies to all U.S. Attorneys’ Offices (USAOs) nationwide with respect to corporate criminal...more

Epstein Becker & Green

To Disclose or Not to Disclose: DOJ Revises Its Policy on How Corporate Criminal Matters Are Handled in an Attempt to Further...

In response to a recent Department of Justice (DOJ) request that all DOJ components write voluntary self-disclosure policies and “clarify the benefits of promptly coming forward to self-report [as] a good business decision,”...more

Jones Day

California Unclaimed Property Amnesty on the Horizon

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On February 17, 2022, Assembly Bill 2280 was introduced in the California Assembly. AB 2280 offers a long-awaited solution for companies owing past-due property to the State of California....more

Faegre Drinker Biddle & Reath LLP

DMF Audits are in the Rearview Mirror … Now What?

After almost a decade of frustration, the dust has finally settled on the era of life insurance/annuity unclaimed property regulation by audit. Not without pain, though, as many endured multi-state, multi-year audit processes...more

Alston & Bird

UP Front: A 2021 Sightline for Unclaimed Property Professionals

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Our Unclaimed Property Team provides a line of sight into the developing trends, ongoing policy debates, and litigated disputes that may shape the future of unclaimed property law and compliance....more

Freeman Law

State and Local Tax Voluntary Disclosure

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This article is the second of a three-part series regarding the State and Local Tax consequences of doing business in multiple states.  This article will discuss Voluntary Disclosure, Part 1 discussed Nexus and Part 3 will...more

BakerHostetler

State Tax in Transactions: Post Closing Issues (Part IV)

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Don't rest on your laurels because the closing ink has dried! In this final episode of the series on state and local tax issues in M&A, Matt Hunsaker addresses some of the issues that arise after closing and how to prepare...more

BCLP

FCA Defendants and Counsel Beware: New DOJ Guidance on FCA Cooperation Credit May Leave Too Much to Prosecutors’ Discretion

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In recent weeks, the United States Department of Justice (“DOJ”) published guidance in the Justice Manual at Section 4-4.112 on how it will award cooperation credit to entities and individuals that are being investigated for...more

Harris Beach PLLC

DOJ Issues Guidelines for Cooperation Credit Specifically as to False Claims Act Matters

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The United States Department of Justice (DOJ) has issued new guidelines regarding cooperation and credit for self-disclosure specifically in False Claims Act matters. Such guidelines provide an overview of factors to be...more

The Volkov Law Group

Merging Trade Compliance and Ethics and Compliance Silos

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Business operations can be riddled with inefficiencies. It is easy to spot them inside a company. The same rule applies to ethics and compliance programs. ...more

Orrick, Herrington & Sutcliffe LLP

NABL Bond Attorneys' Workshop - Notes and Impressions

On September 26-28 the National Association of Bond Lawyers held an annual gathering called the Bond Attorneys' Workshop, which consisted of a series of subject-specific meetings discussing topics in municipal finance. Most...more

Eversheds Sutherland (US) LLP

Unclaimed Property: 5 Key Developments for 2018

Onerous unclaimed property audits and vexing compliance issues will continue to challenge companies in a wide range of industries in 2018. Even with the robust economy, new federal tax provisions will push states to view...more

McDermott Will & Emery

Get Ready for the Countdown: Final Delaware Unclaimed Property Regulations Published

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On October 1, 2017, the Delaware Department of Finance published final regulations in the Register of Regulations repealing its former unclaimed property regulations and promulgating a new reporting and examination manual. ...more

Alston & Bird

Delaware Finalizes Much-Anticipated Audit Regulations

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On October 1, the Delaware Department of Finance adopted its final set of unclaimed property audit regulations, as mandated by Section 1176(b) of Delaware’s newly revised Escheats Law. The regulations are effective on October...more

Eversheds Sutherland (US) LLP

Delaware Dilemma: VDA or Unclaimed Property Audit

Delaware is instituting an aggressive push forward on its controversial unclaimed property audit program, as indicated in two recent announcements. The Secretary of State has announced that his office will begin sending...more

McDermott Will & Emery

Holders Beware: Delaware Department of State Notices to be Mailed in Two Weeks!

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In two weeks, the Delaware Secretary of State (SOS) will begin mailing notices to holders who have been identified as likely being out of compliance with Delaware unclaimed property law. Holders that do not enroll in the SOS...more

McDermott Will & Emery

Delaware (Re)Proposes Unclaimed Property Reporting and Examination Manual Regulation

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On August 1, the Delaware Department of Finance (DOF) published a revised version of its proposed reporting and examination manual regulation addressing audit procedures and method of estimation. See 21 DE Reg 123 (Aug. 1,...more

Alston & Bird

Delaware Reworks Its Recent Unclaimed Property Overhaul Legislation

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On June 29, 2017, Delaware Governor John Carney signed into law Senate Substitute 1 for Senate Bill 79, which revises parts of Senate Bill 13, the major unclaimed property legislation passed earlier this year. Perhaps...more

McDermott Will & Emery

Delaware Proposes Unclaimed Property Regulations – No April Fools

On Saturday, April 1, 2017, the Delaware Department of Finance (DOF) promulgated two regulations that would repeal all existing unclaimed property regulations and replace them with a single DOF regulation containing a revised...more

Troutman Pepper

Temple-Inland Decision Leads to Proposed Delaware Escheat Reform Legislation: Tax Update Volume 2017, Issue 2

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The proposed reforms are a welcome change, specifically as they relate to lookback periods, electronic filing and limited compliance reviews. As a result of what some might view as a scathing decision by the U.S....more

Alston & Bird

Sailing the Sea Change of Delaware’s New Escheats Law

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On February 2, 2017, Delaware Governor John Carney signed Senate Bill 13 into law, completing a wholesale rewrite of the Delaware Escheats Law, codified at 12 Del. Code Ann. § 1130 et seq. The final version of the legislation...more

Eversheds Sutherland (US) LLP

Delaware’s Overhaul of Its Unclaimed Property Laws

Facing widespread criticism about the enforcement of its unclaimed property laws, Delaware has just completed a wholesale revision of its unclaimed property statute. The statutory overhaul has passed both houses of the...more

McDermott Will & Emery

Breaking News: Unclaimed Property Legislation Passes Delaware General Assembly

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On January 26, 2017, the Delaware House approved comprehensive unclaimed property rewrite legislation (SB 13) that was passed by the Senate (with committee amendments) last week. Our summary of many of the key provisions of...more

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