Unclaimed property holder education

Course descriptions

Basics

This free workshop provides reporting basics for accounting employees new to unclaimed property or anyone who would like to refresh their knowledge of this specialized area. Topics include:

• History of unclaimed property
• Purpose and benefits of the Act
• Common property types
• Dormancy periods
• Due diligence requirements and tips
• Preparing your report – when, where, and how
• Common reporting and remitting errors
• Electronic reporting
• Developing an effective unclaimed property accounting system

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Financial institutions

This free workshop covers subjects of interest to the banking community such as:

• History and reporting basics
• Property types and issues unique to financial institutions
• Aging and controlling inactive customer accounts
• Inactivity charges and ceasing interest
• Time Certificates, IRAs, Keoghs and Special Designation Accounts
• Positive owner contact and notifying owners of account changes
• Abandoned safe deposit boxes
• Audit process

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Government agencies

This free workshop covers subjects unique to government agencies. State, county, city, and quasi-municipal organizations are encouraged to attend. Topics include:

• History and reporting basics
• Property types and issues unique to government agencies
• What to report and what to remit
• Exemptions from reporting
• Unredeemed bonds and interest payments
• Gift certificates and safe keeping items
• Records retention and liability for “reported only” property
• Customer credits
• Unidentified receipts
• Audit Process

Register for a workshop