Webinars

  April 29, 2009 at 02:00PM ET

Think your company doesn’t have exposure in unclaimed property? Think again.

Industry experts estimate that one in every 500-1000 transactions eventually becomes abandoned—AND that only 20% of all organizations who should be reporting are. That means 80% who should be aren’t!

With many states facing BIG budget deficits this year, something as simple as an uncashed vendor check could end up costing your company thousands of dollars in penalties and interest assessments for willful failure to report unclaimed property.

Under state unclaimed property laws, you must file unclaimed property or escheat reports annually—and make good-faith efforts to find owners of dormant accounts. Non-compliant companies become targets for stiff penalties and fines that may be levied by state regulators.

The fact is, even some of the best-managed companies can find themselves liable to states for millions of dollars in abandoned property. Don’t let your company take this risk.

Please join IOMA unclaimed property expert, Karen Anderson, for this information-packed webinar and learn techniques for achieving compliance and minimizing liability.

Forty-two states have fall deadlines, so don’t delay. You’re running out of time to become compliant!

Join us on April 29th, and in just 90-minutes, you will gain a thorough understanding of:

• The types of property which must be reported
• Which state’s requirements apply to unclaimed property
• When unclaimed property should be reported including:
• how dormancy periods are applied
• tips on reporting deadlines and extensions
• What formats, media, and delivery are used to report and remit unclaimed property
• Penalties for failure to report and late reporting
• Data review and internal due diligence techniques
• How to evaluate A/P and prevent "over-reporting"
• Preparing for audit
• California’s unique reporting requirements
• Latest developments

FEATURED FACULTY

Karen Anderson
Sr. Compliance Advisor – Abandoned Property Services, LLC

Karen Anderson, Senior Compliance Advisor at APS, LLC, is a 20-year veteran of the unclaimed property industry. In her APS role, Karen guides businesses in achieving and sustaining compliance and in minimizing their unclaimed property liability. Karen was Illinois unclaimed property administrator for five years and later, the first Director of the National Association of Unclaimed Property Administrators (NAUPA).

Currently, Karen is Treasurer on the Board of the Unclaimed Property Professionals Organization (UPPO), the Board liaison to the UPPO Finance Committee, a member of the UPPO Bylaws committee and a member of the Securities Transfer Association Unclaimed Property Committee

Anderson holds a law degree from Loyola University of Chicago.