States Performing Formal Unclaimed Property Reviews –
There are currently only a handful of States conducting Formal Unclaimed
Property Reviews. To successfully complete one of these Reviews, the
following areas should be investigated and analyzed:
– Any written Unclaimed Property policies & procedures.
– Expectations about how certain Property types are handled/reported.
– Reporting history of all entities including acquisitions & divestitures.
– How are outstanding/uncashed checks treated on closed bank accounts?
– Any De Minimus policies or rulings?
