Blog
To VDA or Not to VDA...That is the Question
Posted on Jun 18, 2013 by JMS Advisory Group |
To pursue a VDA in Delaware, or not? That seems to be the question du jour … “Fast & Furious 6” opened earlier this summer, and you’d think the movie was about getting into the Delaware VDA Program, with all the urgency being created by the unclaimed property community… Make no mistake, the ...
Tagged: delaware escheat, delaware audit, delaware unclaimed property, delaware vda, delaware secretary of state
Compliance Reminder: Michigan & Texas Require Reporting on July 1
Posted on Jun 17, 2013 by J.Starr |
Both Michigan and Texas unclaimed property reports are due on or before July 1. Sounds fairly simple right? Not so fast…in the spirit of maintaining the complexity of unclaimed property laws, Texas and Michigan require different dormancy timing dates. For example, a property type with a t...
Tagged: michigan escheat, michigan unclaimed property, texas escheat, texas unclaimed property
UPDATE***California Due Diligence Requirement May Get More Stringent
Posted on Jun 16, 2013 by JMS Advisory Group |
Earlier this month, the California legislature modified this bill to make the due diligence and aggregate reporting thresholds $25.00, as opposed to eliminating the threshold altogether. Interestingly, the bill now would permit a banking or financial institution to impose a service charge for no...
Tagged: california unclaimed property, california due diligence, escheat reporting, unclaimed property compliance, escheat due diligence
California Settles with 11 Large Life Insurance Companies
Posted on Jun 13, 2013 by JMS Advisory Group |
California Controller John Chiang announced last Friday that the state has struck a settlement agreement with 11 more insurance companies to resolve unclaimed property issues. Those companies involved in this latest round of settlements include: Genworth, Hartford, ING, Northwest Mutual, Pacifi...
Tagged: california unclaimed property, life insurance unclaimed, life insurance escheat, unclaimed property compliance, california escheat
Wisconsin Unclaimed Property Division on the move?
Posted on May 22, 2013 by JMS Advisory Group |
A recently published article notes that, “The state’s budget committee voted [recently] to strip state Treasurer Kurt Schuller of one of his major duties by transferring authority over the unclaimed property program to Gov. Scott Walker’s Department of Revenue.” This move...
Tagged: wisconsin unclaimed property, wisconsin escheat, unclaimed property compliance, escheat laws
