Significant Changes Affecting Compliance, VDAs and Audit Enforcement Senate Bill (SB 13) was signed into law by Delaware Governor Carney on February 2, 2017. The new law, which became... Read more
Unclaimed property compliance is an integral part of every accounts receivable professional’s job. Any outstanding receivables—for example, credit balances or unapplied cash—must be reported as unclaimed property if it... Read more
By now, most financial professionals know that accounts receivable credits have the potential to become unclaimed property. What the accounts receivable department may not know is how to handle... Read more
When companies stay on top of these deadlines and timely report unclaimed property, they avoid potentially exorbitant penalties and interest. To find out what Accounts Receivable managers need to... Read more
Thirty-nine jurisdictions have fall reporting and remitting deadlines for unclaimed property. This is important for AR managers to know because several types of accounts receivable constitute unclaimed property, according... Read more
Due diligence is a vital component of many compliance regimes, including the one for unclaimed property (UP). AR managers need to understand what due diligence entails and take the... Read more
One situation that makes escheatment compliance so complex is the fact that the states have differing requirements — different dormancy periods, different periods for vendor payments, and different due... Read more
Most states designate a dollar amount below which only minimal detail information is required in your unclaimed property report.
Fourteen states allow business-to-business (B2) exemptions for unclaimed property, such as outstanding credit memos, balances and refund checks. Unfortunately, the state statutes are not uniform and interpretations differ significantly.... Read more
A table of unclaimed property due dates.