Last month, a cross-functional group of Sovos unclaimed property experts—including folks from product development, product marketing, managed services, our general counsel’s office, and the consulting
Mark your calendars – April 11, 2025 and August 15, 2025 are this year’s anticipated release dates for the Delaware’s Secretary of State (SOS) VDA
Learn how to respond to California’s unclaimed property notices. Avoid audits, penalties, and interest with timely actions and the Voluntary Compliance Program. Be aware! California
Unclaimed property compliance is one of those legal obligations that often flies under the radar for many businesses, especially smaller ones. However, failing to stay
By Freda Pepper, General Counsel, Unclaimed Property The Supreme Court of the United States rarely addresses unclaimed property law, which made its ruling against Delaware
Unclaimed property compliance is often overlooked by small businesses, with many mistakenly thinking it only applies to large corporations. But this misconception can lead to
Delaware recently released the second round of Verified Report requests by mail addressed to the Tax/Escheat Departments with the subject line Notice Requesting Verified Reports
The unclaimed property (UP) community will convene in Las Vegas starting Sunday, March 10 for the 2024 Unclaimed Property Professionals Organization (UPPO) Annual Conference. Running
Delaware’s Secretary of State (SOS) recently advised that they plan to send invitations to companies to participate in the Delaware Voluntary Disclosure Agreement (VDA) program
Sovos often faces the question: “What triggers an audit from the States regarding unclaimed property compliance?” While each case is unique, there are common situations
November 2023 saw a sharp increase in the number of Notices Requesting Verified Reports for Report Year 2022 being issued by Delaware. After further research,
Another October unclaimed property filing season is now over for both clients and Sovos. Overall, 70% of reports filed by Sovos on behalf of our
For the third time in four years, Nevada has amended its unclaimed property law. Indeed, Assembly Bill 55 was enacted in Nevada on June 2,
In an interesting development, New York has requested that companies hold off on reporting unclaimed virtual currency this year. This news comes in the wake of
It’s that time of year when we all begin focusing on fall unclaimed property (UP) filings. For anyone who has experience with UP filings, you
In the world of unclaimed property, there tend to be more questions than answers with certain property types and what should be considered reportable to
Unclaimed property is ripe for potential fraud due to the nature of the property – after all, it is either lost or abandoned and nobody will
Unclaimed property compliance can be difficult and overwhelming. Clients often ask what they should be doing to ensure they are compliant with the various laws