Market Areas > Corporate Finance > Unclaimed Property

Unclaimed Property Compliance:  Is Your Company At Risk?

Course Description:

Did you know that there’s more than $32.877 billion in unclaimed property being safeguarded by state treasurers and other agencies across the country?

In fact, collections of unclaimed payables and credit balances are at their highest levels ever and continue to grow rapidly as states ramp-up their awareness, audits and enforcement efforts. Not only because states face burdensome budget deficits, but because only 10 percent of businesses currently comply with unclaimed property laws.

So, how much is at stake?

Failing to comply with state unclaimed property laws could expose private and public companies alike to interest, penalties, and even criminal liability. In fact, the Uniform Unclaimed Property Act provides for penalties of up to $25,000 plus 25 percent of the property’s value, and 12 percent interest on penalties.

Learn how to avoid steep statutory fines, predict disbursements and stay in compliance with every state for every property type in this information-packed audio conference. Forty-two states have fall deadlines, so now’s the time to ensure you’re in compliance.

A must for every AP pro, in this comprehensive program, you’ll learn key techniques to manage your risk, minimize your exposure, and you’ll be provided with suggested practices on how to:

• Streamline your company's unclaimed property policies and procedures
• Identify hidden unclaimed property obligations in your company
• Recognize unclaimed property red flags on your reports
• Manage an unclaimed property audit

During this critical session, you’ll also learn about:

• The basics of unclaimed property compliance
• Which types of property must be reported
• Where and when unclaimed property should be reported and remitted
• How to make sense of the dormancy periods and when they should be applied
• Strategies to help you meet deadlines and extensions
• What formats and methods of delivery you can use to report and remit unclaimed property
• Penalties for non-compliance and late filing
• Procedures for data review, last contact mailings and internal due diligence
• Suggested practices if you company receives a state unclaimed property audit notice
• Procedures for minimizing unclaimed property liability

Featured Faculty:

Karen Anderson, Senior Compliance Advisor, Abandoned Property Services, LLC

Karen Anderson has been involved in the unclaimed property compliance industry for over 20 years. As a member of the policy staff of a former Illinois Governor, Karen was assigned to guide policy and programs relating to state business regulation. For five (5) years, Ms. Anderson served as Illinois' Unclaimed Property Administrator and later served as the first Director of the National Association of Unclaimed Property Administrators (NAUPA).

Ms. Anderson services at the Treasurer on the Board of the Unclaimed Property Professionals Organization (UPPO) and is a member of UPPO’s Finance and Bylaws Committees. She frequently speaks at industry association conferences and writes articles for trade publications. Anderson holds a law degree from Loyola University of Chicago

MONEY-BACK GUARANTEE:

We're so confident you'll get what you want out of this conference that we'll refund every penny if you're not completely satisfied. No questions asked! It's 100% risk-free!

Pricing:

Unable to Attend?  Order the CD!
Your CD recording includes the complete audio conference presentation, audience Q&A and presentation materials.

Each CCM event presents a variety of information and is presented for each organization to develop its own approach and methodology.