VDA Archives - PEACC - Property Escheatment And Compliance Consulting

14 Oct 2025

Sticky Post By peaccadmin Posted in D. Patrick ("Pat") Healy, Unclaimed Property Compliance, Unclaimed Property Due Diligence, Unclaimed Property Laws Permalink

Delaware Voluntary Disclosure Agreement

Sticky Post By peaccadmin On October 14, 2025

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.

II. Information Gathering

Compile details about your company:
- History
- Entities included in the VDA
- Mergers and acquisitions
- Reporting history
- Records availability
- Property types you’ll report (e.g., payroll, accounts payable/receivable, refunds)

III. Scoping Your VDA

Define the scope for each entity:
- Identify property types included
- 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.

19 Aug 2025

Sticky Post By peaccadmin Posted in D. Patrick ("Pat") Healy, Escheatment, Unclaimed Property Compliance, Unclaimed Property Due Diligence Permalink

Another Round of Delaware Invitation Letters Go Out

Sticky Post By peaccadmin On August 19, 2025

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

23 Jan 2025

Sticky Post By peaccadmin Posted in Unclaimed Property Audits, Unclaimed Property Reporting Permalink

Delaware Unclaimed Property (VDA)

Sticky Post By peaccadmin On January 23, 2025

Now that your fall unclaimed property reporting is complete, your PEACC Team of Advisors would like to announce Delaware is schedule to send out the next round of VDA invitations on November 15, 2024. The State last sent invitation letters out in February 2024.

If your organization receives a VDA (Voluntary Disclosure Agreement) invitation Letter from Delaware and fails to timely respond, you will become eligible for the dreaded, unclaimed property audit. Contact the professionals at PEACC to discuss your options, along with the process, at 410.303.5510.

https://lnkd.in/eTMSCMqp
VDA Invitation Dates – VDA Program – State of Delaware
vda.delaware.gov

03 Jun 2024

Sticky Post By peaccadmin Posted in Unclaimed Property Compliance Permalink

Unveiling the Benefits of a Voluntary Disclosure Agreement (VDA)

Sticky Post By peaccadmin On June 3, 2024

Main Benefits of a Self Unclaimed Property Audit or a Voluntary Disclosure Agreement (“VDA”)

Key Points from Delaware’s February 2020 VDA Invitation – PEACC.com

Sticky Post By peaccadmin On February 27, 2020

• Delaware’s Secretary Of State Voluntary Disclosure Agreement (“VDA”) invitations mailed out in February 2020 have been granted a response extention.
• Responses are now required by July 18, 2020.
• These extension only apply to companies that received the VDA invitation in February 2020.
• Recipients of this letter may include the CFO, General Counsel, Accounting Manager or others.
• It is important to inform all persons and departments of what action they should take if they have received this February 2020 DE VDE invitation letter.
• If recipients do not respond to the invitation by the July 18, 2020 due date, they may/will be referred for an unclaimed property audit.
If you firm is contemplating participating in the Delaware VDA invitation, please feel free to contact us at 410.303.5510 for a free discussion as to whether or not it may be right for you.

20 Oct 2018

Sticky Post By peaccadmin Posted in D. Patrick ("Pat") Healy, Unclaimed Property Compliance, Unclaimed Property Due Diligence Permalink

Delaware VDA Opportunity Notification Letters

Sticky Post By peaccadmin On October 20, 2018

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.