Description
It is critical to your companys financial wellbeing to avoid the risks of not complying with unclaimed property reporting laws.
Nearly all organizations have the potential to generate unclaimed property in various aspects of their everyday operations. It could be something as simple as an employee who doesnt cash a payroll check or more complex issues involving IRA accounts with an owner whos nonresponsive. 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 presentation will help those responsible for unclaimed property compliance understand how to accurately comply with state law. The live webinar also explains the consequences of 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 and outreach activity. This workshop will also cover asset recovery. Attendees will learn some of the tips of the trade to help recover money for themselves and their organization.
Date: 2024-02-27 Start Time: 1:00 PM ET End Time: 2:40 PM ET
Learning Objectives
* You will be able to learn the consequences of noncompliance, including penalties and interest.
* You will be able to identify what types of property should be reported annually.
* You will be able to understand how asset recovery contributes to overall financial management.
* You will be able to develop strategies to establish and maintain an effective compliance program.