When (or Where) Are Gift Cards Considered Unclaimed Property?
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
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
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 […]
Should You Enroll in a VDA Program?
Discover the power of Voluntary Disclosure Agreement (VDA) programs for businesses. Learn how enrolling in a VDA program can help achieve compliance with unclaimed property reporting obligations while avoiding interest and penalties. Explore the exception in New Jersey and the benefits of shorter look-back periods.
How to Reduce the Risk of an Unclaimed Property Audit
Whether tangible or intangible, unclaimed property is held by a company that has been abandoned or left unclaimed for a certain period, typically due to account inactivity or owner contact (known as a dormancy period). States are increasingly targeting unclaimed property as a way to gain sources of non-tax revenue to address budget shortfalls.
DUNBAR NEWSLETTER Q1 2021
DUNBAR NEWSLETTER Q1 2021 Dunbar Newsletter Q1 2021 (PDF) WHAT’S INSIDE: Looking Ahead Proactive Measures Case Study: Preparing for Growth Regulatory Alert! Spotlight: Steve Kelly
MERGERS AND ACQUISITIONS IN THE BANKING INDUSTRY CAN REAP BIG REWARDS
MERGERS AND ACQUISITIONS IN THE BANKING INDUSTRY CAN REAP BIG REWARDS Mergers and acquisitions in the banking industry can reap big rewards: new customers, new product lines and an increased footprint, to name a few. But rewards often come with risk, particularly if there are unexamined or overlooked compliance challenges. One often overlooked risk area […]
DUNBAR HIRES MAUREEN FERRARI GROLLMAN AS NATIONAL PRACTICE LEADER FOR UNCLAIMED PROPERTY CONSULTING AND REPORTING SERVICES
DUNBAR HIRES MAUREEN FERRARI GROLLMAN AS NATIONAL PRACTICE LEADER FOR UNCLAIMED PROPERTY CONSULTING AND REPORTING SERVICES Las Vegas, NV – Dunbar, a full-service unclaimed property firm announced today that Maureen Ferrari Grollman, former managing partner at Unclaimed Property Advocates, has joined their team to lead their growing unclaimed property reporting and consulting services. Ferrari Grollman is […]
NEW LEGISLATION COULD IMPACT YOUR UNCLAIMED PROPERTY
NEW LEGISLATION COULD IMPACT YOUR UNCLAIMED PROPERTY Dunbar actively monitors unclaimed property-related legislation to ensure that our clients and connections are aware of legislation that could impact their industry. Currently, there are four proposed changes to state unclaimed property statutes that you might want to keep on your radar. The first is in Ohio. The proposed bill […]
NEW COMPANY FINDS HEIRS OF ABANDONED ACCOUNTS
NEW COMPANY FINDS HEIRS OF ABANDONED ACCOUNTS BY JEFFREY MEEHAN LAS VEGAS BUSINESS PRESS June 19, 2017 – 8:55 am Seth Schorr, a well-known player in the hospitality industry, is fostering a new type of venture in Las Vegas. Schorr, through his company named Dunbar LLC, is working with banks, brokerage firms and other financial […]