Why Owner Location Should Be a Financial Institution’s First Line of Defense Against Unclaimed Property
Proactive outreach isn’t just good compliance — it’s a business strategy. By Maureen Grollman, Practice Leader, Dunbar Most financial institutions think of unclaimed property as a compliance obligation, something that is unavoidable. Dormancy periods expire, due diligence letters go out, and whatever doesn’t come back gets reported to the state as unclaimed property. It’s […]
Unclaimed Property in 2026: Five Legislative Trends Every Holder Should Watch
The regulatory landscape is shifting fast — here’s what’s changing and what it means for your compliance program. By Maureen Grollman, Practice Leader — Dunbar Unclaimed property law never stands still. Each year, state legislatures introduce new rules, adjust existing requirements, and expand enforcement mechanisms. For companies navigating compliance across multiple jurisdictions, staying ahead […]
The Hidden Cost of Unclaimed Property in Mergers and Acquisitions
What due diligence teams keep missing — and why it matters. By Maureen Grollman, Practice Leader, Dunbar Mergers and acquisitions involve exhaustive due diligence. Legal teams scrutinize contracts, financial advisors model projections, and tax professionals examine liabilities down to the penny. But there is one category of liability that routinely falls through the cracks: […]
What a Company Should Do if It Never Reported Its Unclaimed Property
Companies that have chosen not to report their unclaimed property in the past often find themselves in a tricky situation when they choose to do so for the first time. Doing so involves strategic thought and planning. Companies should not just choose to suddenly come into compliance without first thoroughly evaluating the effects of doing […]
Virtual Currency as Unclaimed Property
In the present day, virtual currencies are becoming increasingly popular with cryptocurrencies, such as Bitcoin or Ethereum, being the most prominent examples. Virtual currency, also referred to as virtual money exists only in digital form and is used in specific internet communities. Until recently, virtual currency was largely unregulated. However, as it gained popularity, instances […]
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.
WILLIAM HANSON JOINS DUNBAR
Dunbar announced recently that William (B.J.) Hanson has joined the firm to further develop their growing portfolio of accounts. Formerly a Senior Vice President with industry giant Keane, B.J. Hanson comes with a wealth of experience within the unclaimed property industry.
UNCLAIMED PROPERTY SERVICES – MERGER AND ACQUISITION
Merger and acquisition (“M&A”) activity in 2015 was rich in large dollar deals, while in 2016 the focus has been on smaller, but more numerous, transactions. Unfortunately, no matter the M&A climate, companies often inadvertently inherit an unknown liability from the companies that they acquire (“Targets”).
TRUE PARTNERS AND DUNBAR
The Financial Services Industry and UP All businesses are likely to generate unclaimed property (“UP”), and the financial services industry is no exception. Like other businesses, it must address potentially reportable UP in the form of vendor and payroll checks and other general ledger property.