Unclaimed Property
Top Tips for Unclaimed Property Audits
By: Laurie Andrews and Paola Narez Picture this: you just completed a risk assessment on your unclaimed property processes, and you feel like you have this
Category: Unclaimed Property
Cryptocurrency
Crypto Tax & Unclaimed Property Compliance – A Year-Round Approach
This quarterly blog series focuses on tax information reporting (TIR) and unclaimed property (UP) issues impacting businesses facilitating transactions involving digital assets. Each quarter, Sovos
1099
Tax and Unclaimed Property for Mergers and Acquisitions
Mergers and acquisitions (M&A) have always been inherent in the financial institution landscape but have recently increased at an unprecedented pace. A recent Fortune.com article
Tax Compliance
The Latest RUUPA Updates
On July 13, 2016 the Uniform Law Commission (ULC) approved its drafting committee’s final draft of the Revised Uniform Unclaimed Property Act (RUUPA). The approved
Unclaimed Property
West Virginia Unclaimed Property Law Enacted
West Virginia’s governor signed WV HB 4511 into law on March 28, 2022. The newly enacted law includes significant changes to West Virginia’s unclaimed property.
Unclaimed Property
California Introduces Unclaimed Property VDA Program
On February 16, 2022, California introduced AB 2280, allowing the California Controller to establish a California Voluntary Compliance Program (VDA Program). This is a significant
Unclaimed Property
Insights on Developing State Compliance Efforts
As unclaimed property regulations continue to change and the methods that states implement to engage holders evolve, it is important for holders to gain from
Cryptocurrency
Cryptocurrency is Subject to Unclaimed Property Too?
It seems like you can’t go a day without hearing something about cryptocurrency or the associated terms like virtual currencies, bitcoin and fiat currencies. Since
Unclaimed Property
Delaware Unclaimed Property VDA Notices
Delaware’s Secretary of State (SOS) recently advised that they plan to send invitations to participate in the Delaware VDA program around February 21, 2022 and
Unclaimed Property
Healthcare Organizations and Unclaimed Property
Every industry has its own set of unique issues relating to unclaimed property and organizations related to healthcare are no exception. Unclaimed property compliance for
Unclaimed Property
Common Unclaimed Property Questions and Answers
Over the years, we have hosted numerous webinars and events around unclaimed property. Throughout these events, we’ve received many excellent questions from attendees. We combed
Unclaimed Property
Industry Spotlight: Financial Institutions
The last time I wrote to you about recent trends with unclaimed property and financial institutions, I talked about the increased audit activities and unique
Unclaimed Property
Securities Audit – What Holders Need to Know
What is an unclaimed property securities audit? It is an audit of the holder’s equity positions (i.e., common stock) held by the shareholders of a
Unclaimed Property
Unclaimed Property Reporting Season Review
Congratulations, you made it through the busy October unclaimed property reporting season. Now what? Sure, you may like to forget about unclaimed property until the
Unclaimed Property
Fall Reporting: The Unclaimed Property Busy Season
The unclaimed property filing season is broken down into three major categories: Analysis, Due Diligence and Final Reports. The cut-off date for the “Fall” filing
Unclaimed Property
Increase in Unclaimed Property Pre-Audit Activity
Sovos’ consultants have noticed a growing trend in 2021 as states across the country increase their unclaimed property pre-audit activity or voluntary compliance programs. Due
Unclaimed Property
Unclaimed Property Due Dates by State
Unclaimed property due dates are spread across the calendar year and differ by state and holder/company type. Complicating matters even further, each state’s own unclaimed
Unclaimed Property
6 Key Ways to Maintain VDA Administrator Contact
If you are currently enrolled in Delaware’s voluntary disclosure agreement (VDA) program, it is very important to provide periodic updates to the VDA administrator contact