AP Channel Newsletter

The AP Channel News

September 17, 2008

In this Issue
Editor's Note Escheatment Audit UPPO Executive Director Continuing Education Just for Fun!

• Special Features •

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TAPN Special Report

The Accounts Payable Network Guide to Unclaimed Property
Author: Karen Anderson, Business Development & Project Manager for Abandoned Property Services
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October 15-17, 2008
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Preparing for Unclaimed Property Reporting
The reporting deadline for unclaimed property in most states is less than two months away. Now is the time to start preparing. No one wants to be on the business end of an escheatment audit. This issue features information that will help you prepare for the November 1 unclaimed property reporting deadline, including what is actually required for your organization to be in compliance.
Patrick Harbin – Editor

Avoid an Escheatment Audit

Unclaimed property compliance involves several departments within an organization, including payroll, treasury and accounts payable. With this many cooks stirring the pot, it's hard to coordinate everything.

While all organizations know they must comply with state escheatment requirements, not everyone understands what compliance involves. To be in compliance, your organization must:

Report each year: the requirement extends to all companies, public or private.
Adhere to the unclaimed property laws of all 50 states and four U.S. territories by filing a report with each.
File for every applicable property type that occurs within the business.

Unclaimed property reporting is a complex, time-consuming process. To better arm yourself against an audit, check out TAPN's audio conference recording Escheatment: Compliance Information You Need Now, featuring Karen Anderson, business development and project manager for Abandoned Property Services. November 1 will be here before you know it.

UPPO Hires Executive Director

The Unclaimed Property Professionals Organization, which boasts more than 250 member companies, has hired its first executive director, Thomas Stefaniak. Read the full story on TAPC.

Just for Fun!

While it's common for office employees to personalize their workspace with knick knacks and photos of friends and family, not many people would describe their desk or cubicle as "fun!"

Take a look at 19 Really Cool Gadgets for Your Office or Cubicle for examples of nifty toys that can make your desk feel more like a playground. Carpet skates, USB tape dispensers and cubicle security systems are just some examples.

Membership in The AP Channel gives you access to TAPC content, including Blogs, AP articles, resources like state tax & escheat tables, and a shopping cart with downloadable tools including policy templates, forms, metrics spreadsheets, internal controls checklists and more. It's free online in one place. The AP Channel.