A Successful Unclaimed Property Reporting Process
A successful unclaimed property reporting process includes these important steps: - Identify all unclaimed intangible property.- Determine which State the property is reportable to.- Calculate the proper dormancy period for each property type.- Review for any property that may be exempt under current State law.- Perform all State required
PEACC.com New To State Unclaimed Property Reporting Requirements?
Who Is Required To Report Unclaimed Property?
1) Corporations –
Retail
Manufacturing
Service/Hospitality Industry
Others (Utilities, Gov’t Jurisdictions,
Colleges/Universities, Hospitals, etc.)
2) Banks & Financial Institutions
3) Insurance –
Life Insurance
Non-Life Insurance
Unclaimed Property Audit Triggers
Unclaimed Property Audit Triggers