Before considering if you should enroll in a VDA program, you must first fully understand what it is. A voluntary disclosure agreement program, also referred to as a VDA, is a program through which a holder can report its overdue unclaimed property voluntarily. While their specific terms vary, VDA programs typically enable companies to achieve […]
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 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.
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”).
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.