Basic Provisions (Requirements) of the Uniform Unclaimed Property Act

The Uniform Unclaimed Property Act addresses all unclaimed intangible property along with all unclaimed bank safe deposit box contents.• general ledger & securities- Requires Holders to perform Due Diligence/Search Letter Mailings• Look for Owner prior to reporting property to appropriate State.- Requires Holder to generate reports in the required formats and

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How Are States Enforcing Their Unclaimed Property Compliance?

-  Through State or State sponsored Compliance Reviews-  Through formal State audit notices.-  Self-Audit notices, including those conducted/sponsored by third party firms.-  State reminder letters regarding Compliance with reporting obligations.-  State VDA ("Voluntary Disclosure Agreement") Invitations.-  Automatic penalty & interest assessment for non-compliance.- If you are contacted by a

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Your Total Source for Unclaimed Property Compliance

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