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Live Webinar

60-minute live streaming program
  • October 28
  • 1:00 - 2:00 pm EST

Unclaimed Paychecks: Escheatment Trends & Best Practices

October 28

Gain a clear understanding of what is encompassed under unclaimed property as it relates to payroll and how to avoid legal pitfalls of unclaimed checks.

When checks and other types of instruments are provided to employees for the payment of wages, bonuses, or reimbursements, or to other vendors as compensation for personal services, are not cashed or utilized; payments are not made when due or are issued in the correct amounts; or checks and instruments are lost and replaced, businesses many years later may be subject to audits that result in substantial liabilities under state unclaimed property and escheat laws. These laws are often enforced on behalf of states by contingent fee auditors who will scrutinize records for errors and omissions over a 10-to-15-year period and utilize statistical projections to determine amounts not paid to states when due. Many states add punitive rates of interest of up to 12% to the amounts determined to be due and may also add civil penalties. This topic will help managers of payroll and human relations departments and other company personnel and consultants understand the purpose of unclaimed property and escheat laws; what their obligations are under these laws; how to determine to which states reports must be filed and unclaimed property remitted; when reports must be filed, and payments made; and how to reduce exposure for liabilities under these laws.

Learning Objectives

  • You will be able to review functions and importance of unclaimed property laws.
  • You will be able to identify obligations and liabilities imposed on business associations by unclaimed property laws.
  • You will be able to discuss what rules apply to unclaimed wages, commissions, bonuses, reimbursements, and other compensation for personal services.
  • You will be able to describe best practices for the management of unclaimed property, especially as applied to wages, commissions, bonuses, reimbursements, and other compensation for personal services.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

What Are Unclaimed Property and Escheat Laws?

What Types of Property Are Subject to Unclaimed Property Laws?

What Obligations Do Unclaimed Property Laws Impose on Holders?

Which State Is Entitled to Take Custody Over the Property of a Holder That Is Presumed Abandoned?

How Do Unclaimed Property Laws Vary Among the States?

The 2016 Version of the Uniform Act

Impact of Regulation E on the Use of Payroll Cards

Best Practices

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More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AIPB 1.0
     
  • This program is acceptable for 1.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPP/FPC
     
  • Lorman Education Services is an approved provider through the American Payroll Association. This seminar is approved for 1.0 RCHs. PLEASE NOTE: To receive credit through the American Payroll Association for this program you MUST attend the program in its entirety and use the streaming option, as well as enable (and complete) the required progress checks.
     
  • AL CLE 1.0
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.0 hours credit.
     
  • AR CLE 1.0
     
  • This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.0
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.0
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
     
  • CT CLE 1.0
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
     
  • HI CLE 1.0
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
     
  • IL CLE 1.0
     
  • This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
     
  • NH MCLE 1.0
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 60 Minutes.
     
  • NJ CLE 1.2
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.2 hours of total CLE credit.
     
  • PA CLE 1.0
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
     
  • VT CLE 1.0
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hours of CLE credit.
     
  • WA CLE 1.0
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.0
     
  • This program has been approved by the Board of Bar Examiners for 1.0 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.2
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.2 MCLE hours.
     
  • HR Certification Institute 1.0
     
  • This program has been approved for 1.0 (General) recertification credit hours toward aPHR(TM), aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM) and SPHRi(TM)recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
     
  • SHRM 1.0
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDC(s) for the SHRM-CP or SHRM-SCP.
     
  • CPE 1.2 including Business Law 1.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Business Law for 1.2 hours. Prerequisite: basic knowledge of processing payroll. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for human resource and payroll professionals, benefits managers, business owners and managers, controllers, CFOs, accountants, bookkeepers, and attorneys.

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More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Raymond P. Pepe

Raymond P. Pepe

K&L Gates LLP

  • Of Counsel, K&L Gates LLP
  • Has a wide-ranging state administrative law practice that includes state and local taxation, unclaimed property, and the representation of financial institutions
  • He has been involved with unclaimed property issues throughout his career, including being engaged in amending Pennsylvania’s unclaimed property law when he served as Legislative Counsel to former Governor, Dick Thornburgh; serving as a member of the Drafting Committee of the Uniform Law Commission that revised the Uniform Unclaimed Property Law in 1995 and 2015; and by assisting clients with unclaimed property audits, evaluations of the impact of mergers and acquisitions on unclaimed property liabilities, and assisting in the modernization of state unclaimed property laws
  • Member of the National Association of Unclaimed Property Professionals and has been a Pennsylvania delegate to the Uniform Law Commission since 1983
  • Has served clients as a member of K&L Gates since 1991 as an equity partner, and more recently as Of Counsel
  • Graduate, Georgetown University and the Georgetown University Law School
  • Can be contacted at 717-231-5988 or [email protected]
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 408063
Published 2021
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