Posted on Monday, 26th April 2010 by Keane Unclaimed Property Team

Following Arizona unclaimed property law? Some late-breaking news for you:

On April 20, 2010, the Governor of Arizona signed HB 2453 into law.

This bill reverts the dormancy period for Arizona security and bond property back to a 3 year dormancy, up from 2 years.

The legislation reverses the recently enacted Senate Bill 1003 which reduced the dormancy period for most property types by one year.

SB1003 was a budget reconciliation bill enacted in a last ditch effort to get the delayed Arizona budget passed.  Beyond the revenue the reduced dormancy periods would bring to the State, it appears that not much time was spent evaluating the other consequences of the bill. Read More »

Posted on Wednesday, 14th April 2010 by Keane Unclaimed Property Team

Some important news for you if you’re a holder following state unclaimed property law; Indiana has recently announced a change –

Indiana Institutes Unclaimed Property Amnesty Program

A one-time only “Amnesty” program to help holders of unclaimed property regain compliance.

What does that mean exactly?

Well, a lot of companies continue holding unclaimed property on their books – either intentionally, or more often, simply because they are unaware of the state unclaimed property laws.

This is not very surprising considering the vast number of escheat laws that apply to holders across the 50 states, and the break-neck pace with which they change.

But this type of program allows holders to voluntarily come forward to comply with the laws without the threat of paying hefty interest and penalty payments. Read More »

Posted on Thursday, 1st April 2010 by Keane Unclaimed Property Team

Join Us In Philadelphia For A Summit On Managing & Reporting Unclaimed Property

Annual Summit to Address Growing Need for Organizations to Proactively Report Unclaimed Property

Keane Unclaimed Property to Host 6th Annual Unclaimed Property Educational Summit in Philadelphia – the major topic? Why it’s important to proactively report unclaimed property.

Wayne, Pa. – April 5, 2010 – Keane Unclaimed Property, a global provider of unclaimed property compliance and risk management solutions, announced today it will hold its 6th Annual Unclaimed Property Educational Summit in Philadelphia on April 28.

Hosted by Keane Unclaimed Property, the Summit will take place from 8:00 a.m. to 4:30 p.m. at the Courtyard Marriott in Center City Philadelphia.

The event will provide attendees with the knowledge to determine their organization’s risk for audit, best practices to improve internal controls and essential guidelines on first time and/or voluntary compliance.

This yearly summit offers holders of unclaimed property a confidential environment to discuss changes in state escheatment laws and their affect on abandoned property compliance reporting.

Read More »