Professional Services Agreements in Construction Live Webinar

Unclaimed Property: Why Your Company Can’t Afford NOT to Be in Compliance (OnDemand Webinar)

$219.00

SKU: 411080EAU

Description

It is critical to your company’s 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 doesn’t cash a payroll check or more complex issues involving IRA accounts with an owner who’s 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: End Time:

Learning Objectives

Basics and Comparison to Tax • up 101
• Overview
• Terminology
• Priority Rules

Annual Reporting
• When to Report
• What to Report
• How to Report

First Time Reporting/Vdas
• Informal Programs
• Formal Programs
• DE VDA Program

Audits
• Increased Enforcement
• State Audits
• Third-Party Audits

Recovery
• Where to Look?
• Tips of the Trade

James O. Santivañez-JMS Advisory Group, LLC

Professional Services Agreements in Construction Live Webinar

Unclaimed Property: Why Your Company Can’t Afford NOT to Be in Compliance (OnDemand Webinar)

$219.00

SKU: 408666EAU

Description

It is critical to your company’s financial wellbeing to avoid the risks of not complying with unclaimed property reporting laws.Most organizations have the potential to generate unclaimed property in various aspects of their everyday operations. It could be something as simple as an employee that doesn’t cash a payroll check or more complex issues involving IRA accounts with an owner that’s 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 topic will help the persons responsible for unclaimed property compliance understand how to accurately comply with state law. The material also explains the consequences for 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 activity. This information also covers a topic that many organizations ignore which is asset recovery. Learn some of the tips of the trade to help recover money for yourself and your organization.

Date: 2021-06-29 Start Time: End Time:

Learning Objectives

Basics and Comparison to Tax • UP 101
• Overview
• Terminology
• Priority Rules

Annual Reporting
• When to Report
• What to Report
• How to Report

First Time Reporting/VDAs
• Informal Programs
• Formal Programs
• DE VDA Program

Audits
• Increased Enforcement
• State Audits
• Third-Party Audits

Recovery
• Where to Look?
• Tips of the Trade

AIPB ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

James O. Santivañez-JMS Advisory Group, LLC

Professional Services Agreements in Construction Live Webinar

Unclaimed Property: Why Your Company Can’t Afford NOT to Be in Compliance (OnDemand Webinar)

$219.00

SKU: 405526EAU

Description

It is critical to your company’s financial wellbeing 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.

Date: 2019-01-10 Start Time: End Time:

Learning Objectives

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

No Credit Available

Karen L. Anderson-KPMG LLP, Jacob D. Garcia – KPMG LLP