Bolstering Unclaimed Property Policies and Procedures: What You Need to Know

wooden blocks that read policies and procedures

Unclaimed property is often an involved, complex arena, and developing guidelines to ensure compliance is vital to identifying manageable challenges before they snowball into more substantial setbacks. All too often, organizations only consider developing formal policies and procedures — or reintroducing outdated iterations — when faced with the possibility of an unclaimed property audit. Here, […]

When (or Where) Are Gift Cards Considered Unclaimed Property?

A person passing over a giftcard to another person.

Birthdays, graduations, anniversaries, and the holiday season at large are all occasions where gift cards and gift certificates become extremely popular present choices. While gift cards have appealing utility for the issuer, they may create abandoned property exposure for the issuer if they are not aware of the varying state laws regarding gift cards and […]

Unclaimed Property Reporting: Top Considerations for First-Time Filers

A person sorting through documents in a folder.

While state unclaimed property laws have been in existence dating back to the early 1900s, there are companies of all sizes, in all industries, that have never reported unclaimed property.  A typical business entity — or “holder,” for unclaimed property purposes — is obligated to report outstanding, uncashed, and inactive accounts to the state on […]

Unclaimed Property Considerations for Mergers and Acquisitions

Wooden blocks with "M&A" engraved into them

Entities that engage in merger and acquisition — or M&A — activity must consider what their unclaimed property risk and obligations will be after the purchase. During these transactions, unclaimed property responsibilities are too often overlooked, especially by those rarely completing such deals. However, considering the implications of the transaction and which party holds historical […]