Blog
Bankruptcy Administrator Files Suit Against Several States to Obtain Unclaimed Property
Posted on Mar 12, 2013 by JMS Advisory Group |
Development Specialists Inc. (“DSI”), the administrator of the Coudert Brothers Law Firm Chapter 11 bankruptcy estate has filed suit against California and a handful of other states alleging that the State Controller (in California) is arbitrarily withholding funds owing to the bankru...
Tagged: escheat bankruptcy, unclaimed property compliance, unclaimed property bankruptcy, escheat lawsuit
California Due Diligence Requirement May Get More Stringent
Posted on Mar 5, 2013 by JMS Advisory Group |
Under the auspices of “looking out for the little guy,” one California lawmaker has introduced new legislation that will require holders to report owner detail for unclaimed property of all amounts (even below the current aggregate threshold of $50.00). In fact, the aggregate thresho...
Tagged: california unclaimed property, california due diligence, escheat reporting, unclaimed property compliance, escheat due diligence
John Hancock Sued By Beneficiary - Unclaimed Property Lawsuit
Posted on Feb 4, 2013 by JMS Advisory Group |
In what might be a not-so-welcome harbinger of things to come, the John Hancock life insurance company was sued by a beneficiary of a life insurance policy held by the company. As this article notes, “the lead plaintiff claims that he was notified only in 2010, four years after the death o...
Tagged: e insurance unclaimed, life insurance escheat, unclaimed property compliance, john hancock escheat
Reminder - Spring Unclaimed Property Reporting Deadlines
Posted on Jan 21, 2013 by JMS Compliance Team |
The compliance outsourcing team here at JMS wishes everyone a happy new year! With the new year however, comes another round of compliance obligations for the holder community. Most companies/industries (not in the life insurance industry) will be required to report based on the following timeli...
Tagged: escheat compliance, escheat reporting, unclaimed property compliance, unclaimed property reporting, escheat deadlines, escheat returns, unclaimed property returns
IMPORTANT ALERT! Revised Connecticut Reporting Deadline
Posted on Jan 12, 2013 by JMS Advisory Group |
Due to the fact that March 31st (the usual CT reporting deadline) falls on a Sunday and the Friday before that is a state holiday, the Connecticut State Treasurer’s Office has announced that all unclaimed property reports must be RECEIVED BY the close of business on Thursday, March 28th. He...
Tagged: unclaimed property compliance, escheat compliance, connecticut unclaimed property, connecticut escheat
