Unclaimed Property Audit
Last Chance Webinar for Delaware VDA Program
The Delaware Secretary of State will be hosting a fourth webinar to answer questions on the new Delaware VDA program for unclaimed property compliance. The webinar will take place on Tuesday, April 23rd at 3 p,m. EST. Interested parties can register for this webinar at www.DelawareVDA.com under the Upcoming Events & News tab. Since the announcement … [ read more ... ]
Delaware Expands Voluntary Compliance Initiative
The new Delaware Voluntary Compliance Initiative will be opened up to additional holders as HB 2 was signed into law by Delaware Governor Jack Markel on January 30, 2013. The bill was enacted “to create additional incentives for holders of abandoned property to report such property to the state and promptly resolve such claims.” The … [ read more ... ]
New Regulation Impacts Delaware Unclaimed Property Examination Guidelines
Delaware unclaimed property examination guidelines will be slightly modified, as the Department of Finance passed a new regulation effective December 10, 2012. This new regulation amends an existing regulation addressing unclaimed property audits, specifically the periods of time that the State Escheator will examine historical records to determine compliance with Delaware unclaimed property law.
Staples & Delaware Reach Unclaimed Property Settlement
The widely watched Delaware unclaimed property litigation has been resolved. It has been reported that the office supply company, Staples, had reached an unclaimed property settlement with the State of Delaware totaling $8.9 million, thus settling a legal dispute that originated over two years ago and resolving an unclaimed property audit that began in 2005. To refresh your … [ read more ... ]
Delaware Proposing New Look Back Periods for Unclaimed Property Audits
For a limited time, look back periods for unclaimed property audits in Delaware may be shorter, should recently proposed regulations become finalized. Recently, the Delaware Department of Finance proposed new regulations that would limit the look back period for purposes of an unclaimed property audit. The proposed regulations provide that, in order to encourage compliance, … [ read more ... ]
