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
