Delaware Reporting Verification Letters

August 18, 2021

The State of Delaware Department of Finance sent out letters to Holders requesting verification of annual unclaimed property reports for property presumed abandoned as of December 31,  2020. These Delaware reporting verification letters are targeted to holders that previously reported unclaimed property to Delaware but did not submit a 2020 report, which was due on March 1, 2021, for all companies except banking and insurance companies (banking and insurance companies have unclaimed property cut-off dates of June 30 and December 31 with reports due on November 10 and December 20, respectively). Make sure those responsible for signing and filing the report as well as management, CCOs, CEOs, and CFOs, watch for this letter.  

While Delaware accepts negative or $0 reports, it does not require negative reporting. If your company has filed an unclaimed property report in the past to Delaware and determined no property is due for the current reporting cycle, you may wish to file a negative report to show continued compliance even though it is not required. It is imperative that companies that receive this letter, or one similar, respond within 30 days. A response is required even if your company does not have unclaimed property to report to Delaware for the Report Year 2020. 

If you receive this letter, or one similar, double check your unclaimed property reporting for Delaware to ensure full compliance, complete and return the letter. This letter also requires a copy of the company’s unclaimed property policies and procedures. It’s important to note that the letter also requires notarization. If you’re unsure about your compliance, the implications of this letter, or need policies and procedures created or updated, reach out to an unclaimed property expert, like Sovos.

This letter also details that failure to respond within 30 days and with the required information may result in state enforcement, such as initiating an audit. Additional details and guidelines around unclaimed property reporting rules and regulations are available on Delaware’s website or in its Holder Handbook. 

Take Action

Learn how Sovos Unclaimed Property Reporting and Consulting solutions can help you meet your compliance needs. Talk to an Expert

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.



Sovos is a leading global provider of software that safeguards businesses from the burden and risk of modern transactional taxes. As VAT and sales and use tax go digital, businesses face increased risks, costs and complexity. The Sovos Intelligent Compliance Cloud is the first complete solution for modern tax, giving businesses a global solution for tax determination, e-invoicing compliance and tax reporting. Sovos supports more than 7,000 customers, including half of the Fortune 500, and integrates with a wide variety of business applications. The company has offices throughout North America, Latin America and Europe. Sovos is owned by London-based Hg. For more information visit www.sovos.com and follow us on LinkedIn and Twitter.
Share This Post
Share on facebook
Share on twitter
Share on linkedin
Share on email

North America Sales & Use Tax
December 2, 2021
Sovos Global Tax Determination Seamlessly Handles Black Friday, Cyber Monday Sales

While Black Friday and Cyber Monday 2021 didn’t break records for ecommerce sales, the numbers still showed that online shoppers were out in full force. A return to in-store shopping, global supply chain issues and the continuing pandemic were all cited as likely key factors in the small drop in online shopping numbers this year. […]

EMEA Tax Compliance VAT & Fiscal Reporting
December 2, 2021
How to Prepare for a VAT Audit

In our previous blog, we looked at the challenges that businesses face in submitting VAT and other declarations on an ongoing basis. However, the compliance cycle doesn’t end there as tax authorities will carry out audits for a variety of reasons to validate declarations. Why do tax authorities carry out audits? When VAT returns consisted […]

December 1, 2021
Looking Back at Beverage Alcohol Regulatory Change in 2021

As 2021 comes to a close, perhaps there is small comfort in knowing that the old adage of “the only constant is change” remains true for beverage alcohol. Rules and regulations on direct-to-consumer (DtC) shipping are adjusted, more states are opening options for DtC shipping and economic nexus continues to impact how suppliers, shippers and […]

North America Tax Information Reporting
December 1, 2021
IRS Grants Permanent Relief for ACA Recipient Forms 1095-B & C

The IRS released Proposed Regulations this week that permanently extends the time for businesses to provide the Recipient copy of Forms 1095-B and 1095-C. Rather than continue to issue annual Notices to extend the date to issue the statement to the recipient, these regulations propose to permanently amend §1.6055-1(g)(4)(i) i to automatically grant filers a […]

North America Unclaimed Property
December 1, 2021
Delaware Unclaimed Property VDA Notices

Time is running out for those who received the DE SOS’s invitation to participate in the Delaware VDA program in February and June.  Extensions granted to companies that received the invitations in February will expire Friday, July 30th.  Companies that received the June invitations have until August 10th to respond. If a company is interested […]