Whenever you inquire about Holder and their unclaimed property reporting, their responses are normally: – We don’t have any unclaimed property to report or remit. – We already file our unclaimed property reports, but they are normally negative/zero reports (reports showing nothing to report). – Our outstanding checks list have been reviewed and none of them reflect any outstanding checks. – Any small dollar amount outstanding checks (ie. < $5.00) are written off.
Any of these myths can increase your risk of an unclaimed property audit.
For further clarification on any unclaimed property compliance issues, please reach out to a professional at PEACC.com at 410.303.5510 or email us at info@peacc.com
Call PEACC for Compliance 410.303.5510
What Are the Holder/Companies Beliefs When it Comes to Unclaimed Property Reporting? October 20th, 2025peaccadmin
Delaware Voluntary Disclosure Agreement (VDA) Process: A Step-by-Step Guide
The Delaware Voluntary Disclosure Agreement program offers businesses a smoother path to compliance with unclaimed property laws. This blog outlines the key steps involved:
I. Enrollment
Sign and submit Form VDA-1: This initiates the program and signifies your intent to comply.
Assess record availability (trial balances, bank reconciliations, check lists, A/R aging reports)
Determine the look-back period (ideally to 1996)
Address lack of records (estimation methods)
IV. Detailed Records Review
Conduct a thorough review of each property type for each entity.
Utilize estimations when records are unavailable.
V. Submitting Findings to Delaware
Present a draft report to the Delaware Department of State.
Be prepared for potential sampling to verify your results.
VI. Settlement and Payment
Upon Delaware’s approval:
Complete and submit Form VDA-2.
Make a remittance payment for identified unclaimed property.
VII. Addressing Other States
Once the Delaware VDA is finalized, determine any potential exposure for unclaimed property in other applicable states.
By following these steps, you can navigate the Delaware VDA process efficiently and ensure compliance with unclaimed property regulations.
For further information and questions regarding compliance with these state unclaimed property laws, please contact a professional at PEACC.com at 410.303.5510, or email us at info@peacc.com.
Delaware Voluntary Disclosure Agreement October 14th, 2025peaccadmin
It has come to PEACC’s attention that another round of Delaware (“DE”) Unclaimed Property Voluntary Disclosure Agreement (“VDA”) Invitation letters have been mailed out by Secretary of State Office to various Holders throughout the Country incorporated in DE, in most cases.
The scheduled mailing date of these invitaion letters is mid-August. If your company happens to receive one of these letters from Delaware, it is in the Holder’s best interest to respond to the State within 90 days of the letter date. If the Holder does not respond within the 90 days the letter recipient will be selected for an Unclaimed property audit be the Delaware Department of Finance. Therefore, PEACC advises all Holders who receive the VDA Invitation letter to come forward, voluntarily and participate in the Delaware VDA. Participants in the DE VDA are provided numerous benefits from the State that outweigh going through an unclaimed property audit and may save the Holder money.
To hear more about the Pro’s and Con’s of participating in a State VDA or fir help in navigating the process, whether formal or not, please reach out to a professional at PEACC.com by calling 410.303.5510 or email us at info@peacc.com
Call PEACC for Compliance 410.303.5510
Another Round of Delaware Invitation Letters Go Out August 18th, 2025peaccadmin
PEACC is a leading provider of unclaimed property compliance solutions, helping companies of all sizes navigate the complexities of state regulations. We offer a range of services, from initial compliance reviews and report generation to audit defense and customized training programs. Our goal is to provide effective and cost-efficient solutions that minimize risk and ensure compliance with all state requirements.
We understand that unclaimed property compliance can be challenging, and we are committed to providing our clients with the support they need to succeed. Our team of experts has extensive experience in all aspects of unclaimed property, and we are dedicated to staying up-to-date on the latest regulations and best practices. We believe in building long-term partnerships with our clients, providing ongoing support and guidance to ensure their continued success.
Contact PEACC today. at 410.303.5510, to schedule a FREE consultation and learn how we can help your company achieve and maintain full compliance with unclaimed property laws.
Call PEACC for Compliance 410.303.5510
PEACC.COM FREE UNLAIMED PROPERTY CONSULTATION March 11th, 2025peaccadmin
The State of Delaware has recently initiated a major unclaimed property enforcement effort by mailing Voluntary Disclosure Agreement (VDA) opportunity letters to hundreds of Delaware-incorporated companies nationwide.
60-Day Deadline is Critical: Companies receiving a VDA letter have only 60 days to formally respond and enter the program.
Failure to Respond = Audit: Companies that do not respond within 60 days will be immediately referred to the Delaware Department of Finance for a mandatory unclaimed property audit, often conducted by aggressive, third-party, contingency-fee auditors.
Best Practice Alert: All mailrooms and relevant personnel must be notified to actively look for official correspondence from the State of Delaware regarding this VDA program.
Proactive Compliance: Even if your company has not received a letter, as a Delaware-incorporated entity, it is a critical “best practice” to immediately review your unclaimed property compliance and reporting status to mitigate audit risk, as the State is poised to aggressively enforce its requirements.
For further information about this Delaware VDA letter writing campaign or the State’s VDA program and its benefits, please contact PEACC.com at 410.303.5510 for a free confidential consultation.
Call PEACC for Compliance 410.303.5510
Delaware VDA Opportunity Notification Letters October 20th, 2025peaccadmin
Your Total Source for Unclaimed Property Compliance
