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 Due Diligence/Search Letter functions. – Review, generate & submit State reports & the remittance in the required formats and timeframes. – Update/document all records related to property reported.
For further clarification on the State unclaimed property reporting process 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
A Successful Unclaimed Property Reporting Process October 17th, 2025peaccadmin
Ask yourself the following twelve questions to determine if your company is a candidate for the dreaded “Unclaimed Property Audit” by either a state or state sponsored (third-party) unclaimed property auditor
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
Unclaimed property laws require companies to send due diligence letters to property owners before reporting them to the state. While it can be time-consuming, it can help reunite owners with their property, improve customer service, and avoid fines. Learn more about holder requirements by contacting PEACC.
Do you have internal unclaimed property policies & procedures currently in place? Is everyone at your organization on board with them and abiding to them?
If the answer to these questions are Yes, it is still advised by the States and all major Unclaimed Property Organizations (UPHLC, NAST, UPPO, etc.) that Holders should perform a review of them every 3 to 5 years. To ensure total compliance with all the State laws and regulations, yearly audits are often suggested. These State laws and requirements may change without much notice. The States put the burden of keeping track of any law changes on the Holders/Companies.
If you’re short staffed, confused or just don’t feel like performing a review of your unclaimed property Policies & Procedures, let PEACC help with it. PEACC has proven time & time again they can save you money from any non-compliance or under reporting liabilities (or over reporting) with their proven review and modifications methods.
Still questioning their review and process? Let PEACC review one or two of your recent State Unclaimed Property Reports for free. We will show you what compliance is required among the States.
Sleep better at night knowing all your yearly efforts comply with all the State compliance requirements and expectations. Don’t leave your door open to ongoing compliance issues. Be safe with PEACC’s Compliance Reviews. You could even be over reporting or underreporting. But you may never know unless PEACC conducts one of their thorough compliance reviews.
Don’t wait! There is no better time than now to have your Unclaimed Property Policies & Procedures reviewed. Get past reporting history reviewed prior to having a State contact you. This could lead to an added expense to your bottom line. As mentioned, it is recommended by the unclaimed property authorities to conduct a review of you’re past reporting history along with your Policies & Procedures every 2 to 3 years. But don’t fret, let PEACC do the work. You’ll be surprised at the results.
Please reach out to PEACC by calling 410.303.5510 or email us at info@peacc.com for further information or to commence with your FREE review. Only positive results.
Call PEACC for Compliance 410.303.5510
Reviewed Your UP Policies & Procedures Recently? September 16th, 2025peaccadmin
Are you considering the unclaimed property liabilities in your Acquisitions? You should be because it could make a difference in what the acquisitions may cost you.
Depending on whether the Acquisition is a Stock purchase or an Asset purchase will dictate what your liability may be.
If the acquisition is a stock or equity purchase, the acquirer generally assumes historical and ongoing liability of the acquisition target.
In an Asset purchase, the acquirer generally will inherent unclaimed property liability ONLY related to the assets & liabilities assumed in the purchase transaction.
So, as you can see, a stock/equity acquisition includes any historical unclaimed property historical filings that have been missed over the years.
Therefore the acquirer would need to submit past due reports and also be responsible for any fines & interest penalties the States will/could assess would could add up.
This is why PEACC recommends performing an unclaimed property exercise to estimate what the exposure could be. Then lower the offering price taking the estimated unclaimed property exposure into consideration.
For further information on complying with the myriad of all the various State laws and regulations, please reach out to a professional at PEACC.com by calling 410.303.5510 or email at info@peacc.com too gain valuable knowledge & insight on unclaimed property compliance
Call PEACC for Compliance 410.303.5510
Unclaimed Property Liabilities in Acquisitions September 4th, 2025peaccadmin
More than 40 educational sessions spanning four educational tracks (basic, intermediate, advanced, and special focus).
Social events/outings, meals and breaks designed to help attendees connect.
Opportunities to meet with presenters/exhibitors throughout the conference to learn about the services that can help your company’s unclaimed property program.
Industry-specific breakout sessions that feature updates about hot topics plus Q&A with the presenters and other attendees.
Register by Jan. 15, 2026, for the special, early-bird rate.
Questions? Contact UPPO.org at 763-253-4340 or visit uppo.uppo@org for further information.
2026 Annual UPPO Conference Highlights August 27th, 2025peaccadmin
Your Total Source for Unclaimed Property Compliance
