Available in:

OnDemand Course
MP3 Download

Unclaimed Property: Why Your Company Can't Afford NOT to Be in Compliance

It is critical to your company's financial well-being to avoid the risks of not complying with unclaimed property reporting laws.

Most organizations have the potential to generate unclaimed property in various aspects of their everyday operations. It could be something as simple as an employee that doesn't cash a payroll check or more complex issues involving IRA accounts with an owner that's non-responsive. Navigating state escheat law(s) can be a challenge, and with penalties and interest assessed for noncompliance, this compliance concern can no longer be on the back burner. This topic will help the persons responsible for unclaimed property compliance understand how to accurately comply with state law. The material also explains the consequences for noncompliance as well as ways to start reporting if your organization has never filed before. Failing to have a proper compliance program is becoming a great risk for many organizations as states are increasing audit activity. This information also covers a topic that many organizations ignore which is asset recovery. Learn some of the tips of the trade to help recover money for yourself and your organization.

99 minutes
Course Exam
Certificate of Completion
Purchase Options

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.

Agenda

Basics and Comparison to Tax - UP 101

  • Overview
  • Terminology
  • Priority Rules

Annual Reporting

  • When to Report
  • What to Report
  • How to Report

First Time Reporting/VDAs

  • Informal Programs
  • Formal Programs
  • DE VDA Program

Audits

  • Increased Enforcement
  • State Audits
  • Third-Party Audits

Recovery

  • Where to Look?
  • Tips of the Trade
Purchase Options

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

OnDemand Course

This course was last revised on June 29, 2021.

Call 1-866-352-9540 for further credit information.

  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

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

James O. Santivañez

James O. Santivañez

JMS Advisory Group, LLC

  • Founder and president of JMS Advisory Group, LLC
  • For more than 20 years, he has provided guidance and consultation to clients in all industries regarding unclaimed property and state/local tax matters
  • He works with clients to design and implement complex compliance solutions, negotiates amnesty and voluntary disclosure agreements to mitigate and resolve unclaimed property liabilities, and provides representation for third-party and state unclaimed property audits
  • Specialist in unclaimed property compliance reviews designed to identify exposure, potential savings opportunities, and process enhancements and risk mitigation
  • Staunch defender of client interests – provides assertive representation for dozens of unclaimed property audits on behalf of clients in varied industries including insurance, health care, financial services, retail, hospitality, manufacturing, distribution, transportation, energy, and utilities
  • Prepares protests, appeals, litigation support documentation, and requests for rulings
  • Regularly meets with state unclaimed property administrators and state treasurers throughout the country to stay abreast of developing policies and legislation
  • Has provided expert testimony and lobbied for client legislative interests in various states
  • Negotiates with all state unclaimed property agencies and administrators advocating client interests and policies beneficial to the holder community
  • Drafted proposed legislation and made formal recommendations to state legislators on significant unclaimed property issues impacting holders’ rights
  • Former National Practice Leader, Ryan, Inc.; former Regional Practice Leader, KPMG, LLP and former law clerk, Multi-state Tax Commission
  • Nationally recognized expert on unclaimed property matters; has spoken to the membership, or appeared as a speaker on behalf of the following organizations: American Gas Association, American Payroll Association, Atlanta Tax Club, Broadcast Cable Financial Management Association, Healthcare Financial Management Association, National Restaurant Association, Tax Executives Institute, Texas Society of CPAs, and Unclaimed Property Professionals Organization
  • J.D. degree, Washington College of Law, American University, Washington, D.C.; B.A. degree, Yale University
Purchase Options

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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!


  • OnDemand Courses
  • Live Webinars
  • MP3 Downloads
  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 408666
Published 2021
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!