You Just Acquired a Company and a Huge Unclaimed Property Liability. What Now?
Acquiring a new company is an immensely exciting time for the business doing so. It is a time of expansion and opportunity, allowing that business to serve more consumers over a greater distance. However, many businesses fail to realize when they acquire another company this is not the only type of growth they may exhibit. […]
Just Because You’re Reporting Unclaimed Property Doesn’t Mean You’re Doing It Correctly
When it comes to reporting unclaimed property, things, unfortunately, are rarely as simple as they may seem. With constantly evolving rules and regulations, it is hard to determine exactly what one must do to complete the process successfully. This confusion, unfortunately, is only compounded by the fact that each state has different procedures holders must […]
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 […]
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 […]
Common Unclaimed Property Reporting Mistakes To Watch Out For
Reporting unclaimed property is an extremely intricate and oftentimes confusing process. This is especially true for holders of unclaimed property who do not specialize in the reporting process and attempt to complete it entirely on their own. Due to this process being so complex, it can be difficult for holders to even realize when and […]
What are the Best Practices for Due Diligence?
“Due diligence” is a phrase commonly heard in work environments today. However, it is so often said that few people take the time to truly think about what it means to practice due diligence when performing their jobs.