It is critical to your company's financial well-being to avoid the risks of not complying with unclaimed property reporting laws.
The 2016 Uniform Unclaimed Property Act, Delaware enforcement reform, and the rise of the third party audit firms, are factors that have triggered dramatic change in the unclaimed property compliance paradigm. Anticipating shifting state requirements and potentially costly audit pitfalls has become increasingly difficult for businesses attempting to navigate the unclaimed property compliance maze. This topic provides not only a basic understanding of unclaimed property requirements and an overview of state audits and voluntary disclosure programs but also an update on the legislative and regulatory trends that may continue to define business compliance obligations now and in the future. Presenters will offer insights for realigning policies, procedures and processes consistent with the trends will be discussed to aid you in considering measures that may enhance your company's unclaimed property compliance program.
Learning Objectives
- You will be able to identify common types of unclaimed property.
- You will be able to recognize the reporting obligations and requirements for Unclaimed Property reporting.
- You will be able to identify the requirements related to Voluntary Disclosure.
- You will be able to identify the steps in an Unclaimed Property audit.
Add to Wishlist
More Program Information
Why Lorman?
Over 35 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
Unclaimed Property Fundamentals
- Type of Items That May Be Unclaimed Property
- Jurisdictional Rules
- Unclaimed Property Anomalies
- Statute of Limitations
- Contingent Fee Third Party Audits
- Penalties and Interest
- The Uniform Unclaimed Property Acts
A Business' Basic Obligations
- Internal and Statutory Due Diligence
- Report and Remittance
- Record Retention
Unclaimed Property Audits
- Notice and Scope
- Audit Chronology
- Scope and Record Production
- Liability Assessment
- Closing Agreement
- Audit Appeals
- Suggested Practices
Voluntary Disclosure Programs
- Benefits and Drawbacks of VDAs
- VDA Qualifications
- The Significance of Formal vs. Informal
- Scope
- Differences From Audits
- Suggested Practices
Unclaimed Property Trends and Pending Legislation
Add to Wishlist
More Program Information
Why Lorman?
Over 35 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 January 10, 2019.
Call 1-866-352-9540 for further credit information.
No Credit AvailableThis program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Add to Wishlist
More Program Information
Why Lorman?
Over 35 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
Karen L. Anderson
KPMG LLP
- Senior manager, KPMG, LLP National Unclaimed Property Practice Team
- Thirty years of experience: State unclaimed property administrator, business advocate and consultant
- Specializes in unclaimed property compliance and consulting in the areas of due diligence, reporting and remitting, risk minimization, State interpretation, negotiation and clarification, policies and procedures, business training and education
- Frequent speaker at seminars and conferences held by business-related associations
- Former president of the Unclaimed Property Professionals Organization (UPPO) (2013-2014)
- Former Co-Chair of the UPPO Government Relations Committee; chair of the Holders' Coalition
- J.D. degree, Loyola University of Chicago
- Can be contacted at 317-523-5049 or [email protected]
Jacob D. Garcia
KPMG LLP
- Manager in KPMG's Denver SALT practice
- Full range of experience in all aspects of unclaimed property, including multi-state general ledger and securities audits, quantification of unclaimed property liability, voluntary disclosure agreements, annual compliance reporting and the development of leading practices
- Served as a senior associate at a boutique unclaimed property firm
- Helped manage numerous audit defense and VDA projects
- Extensive experience in unclaimed property consulting for the oil and gas, healthcare, and retail industries
- Assisted with diagnostic reviews, annual compliance services, and the development of policies and procedures for several Fortune 500 companies
Add to Wishlist
More Program Information
Why Lorman?
Over 35 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.
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.
