Unclaimed Property Basics

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Unclaimed Property Basics

Program Originally Presented Wednesday, May 6, 2026

Unclaimed property is not a tax but often falls to the tax or accounting departments to handle within an organization. Unclaimed property is any fixed and certain interest in intangible property that is being held in the course of business where there has been no contact with the rightful owner for a specific period of time.

While each state has unclaimed property laws, they vary and are ever changing. It is important for organizations to understand and stay on top of their obligations to avoid a costly assessment through audit. Uncashed or voided accounts payable or payroll checks, accounts receivable credits, rebates, gift cards, uncashed dividend checks, and inactive shareholder accounts are just a few of the property types that can trip up an organization.

This CLE course will provide participants with the basic knowledge required to identify whether an organization has a material unclaimed property concern.
 

Featured Speaker:
Geoffrey A. Sawyer, Esq.
Partner, Faegre Drinker

0400ODV