Make State Escheatment Compliance a Priority!
- The Importance of Compliance
- Reporting - When & Where?
- Record Review & Retention
The Accounts Payable Network Guide to Unclaimed Property
Author: Karen Anderson, Vice President, Unclaimed Property Recovery and Reporting
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The Accounts Payable Network Guide to Unclaimed Property, written by Karen Anderson an 18-year veteran and respected expert and consultant in the escheatment field and published by The Accounts Payable Network, provides AP professionals with important information about how to handle unclaimed property to stay in compliance with corporate governance and business ethics laws and procedures and avoid exposure to penalties and interest for noncompliance.
Each state and territory has unclaimed property laws and most apply to uncashed vendor checks, making compliance with these laws a priority for your accounts payable staff. These laws can be overwhelming and require diligence on the part of the AP staff. The good news is that there are ways to mitigate past due liability, prevent future past due exposure and minimize annual liability through effective management and procedures.
This special report, written to inform and educate AP professionals on how they can stay in compliance with unclaimed property laws and avoid costly penalties, covers the following information:
- An Introduction to Unclaimed/Abandoned Property Laws
- The Importance of Compliance with State Unclaimed Property Laws
- Record Review
- Where Should Property Be Reported and Remitted, And When?
- Due Diligence
- Reporting and Remitting of Unclaimed Property
- Record Retention
This resource provides everything you need to know as an AP professional about how to handle unclaimed property. Add this report to your resource/training library and reduce your company’s risk exposure by learning the do’s, don’ts and best practices for AP departments relating to unclaimed property.
