The Arkansas Auditor of State recently provided an update to the Arkansas Bankers Association regarding recently communicated changes to reporting cashier’s check properties. The auditor wrote, in part: “Thank you for your response and to all the banks who provided feedback. We sincerely appreciate the dialogue. Conversations such as these allow our office to better understand unclaimed property issues from a Holders’ point-of-view. Please know that we are listening and value your input. We have elevated our office’s review concerning Cashier’s Check reporting issues. Effective immediately, t ..read more

As you prepare for Thanksgiving on Nov. 23, UPPO offers a few reminders to help unclaimed property professionals get the most from their holiday experience. When family conversation turns to a divisive topic, like politics or whether your cousin Jenny is ruining her life by marrying the bass player from a Smashmouth tribute band, launching into a detailed explanation of unclaimed property priority rules is the perfect disruptor. No matter how often you explain unclaimed property, Grandma will never understand your job. Just tell her you rescue neglected puppies and bask in the glory of bei ..read more

Unclaimed property often makes news headlines, and UPPO occasionally provides a snapshot of some of the more interesting and entertaining stories receiving coverage from local and national media outlets in the past month.   On Oct. 9, 2023, Delaware Online discussed the second phase of the MoneyGram Supreme Court case, which will determine if the defendant states receive damages. The article discusses the potential financial hit Delaware may take and the evolving status of unclaimed property within the state.   With today’s employees depending on their 401k and IRA accounts to c ..read more

As one of the most common forms of cancer and the second leading cause of cancer death among women, breast cancer affects nearly everyone. Chances are you know relatives, friends, coworkers or acquaintances who have been diagnosed with breast cancer. Improved screening and treatment practices have steadily decreased the breast cancer death rate over the past 25 years, according to the American Cancer Society. However, it remains a threat, as reflected by these 2023 ACS statistics: This year, approximately 297,790 new cases of invasive breast cancer will be diagnosed in women, and about 2,800 ..read more

Over the ordinary course of business, various events will inevitably affect a holder’s records and the availability of necessary documents. Examples include mergers, acquisitions and divestitures; opening/closing of bank accounts or general ledgers; centralizing or decentralizing the accounting or operational activities; and system conversions, wind-downs or new implementations. Planning and performing the necessary due diligence before the completion of these events can help prepare holders for potential future obligations. Exemptions and Deductions Some states offer exemption and deduction ..read more

Registration recently opened for the 2024 UPPO Annual Conference next March in Las Vegas. If you haven’t taken the time to peruse the agenda on our redesigned annual conference website, I encourage you to give it a look. I think you’re going to love the interactive format – I certainly did! Every year, the conference offers an unmatched opportunity for unclaimed property professionals, providing dozens of educational sessions presented by expert speakers, fun networking events and plenty of time to chat with service providers and state administrators. I’m especially excited about two new fea ..read more

When preparing for an unclaimed property audit, holders may inadvertently overlook properties administered by a third-party administrator (TPA), so it’s essential to understand the services TPAs provide and the related properties that could be generated. Reviewing TPA contracts and confirming TPAs’ services with the appropriate operational areas that use them is essential to accurately document how information is transferred between parties. Holders should also verify which party handles unclaimed property identification, tracking and reporting. If the contract doesn’t address these responsib ..read more

DEI Spotlight is a UPPO DEI Task Force initiative that celebrates the organization’s diversity by highlighting a member who helps make UPPO a welcoming association for all unclaimed property professionals. Should you or someone you know be featured in an upcoming DEI Spotlight? Let us know by completing this short form. This month, we’re shining the DEI Spotlight on Joanna Abinuman, accounting services manager for The Walt Disney Company. Joanna Abinuman faced a dilemma as she approached the end of high school. She was accepted to attend the University of South Florida, but doing so would re ..read more

Fall reporting season is upon us yet again. Most U.S. states require holders to file reports by either Oct. 31 or Nov. 1. Following are reporting deadlines for these states, along with helpful links. This list is not exclusive to a specific holder industry, so please check the states’ websites for information on industry-specific reporting information and deadlines. Because of the amount of information included, this guide has been published in four parts: Part 1 covered Alabama through Hawaii. Part 2 covered Idaho through Minnesota. Part 3 covered Mississippi through Rhode Island. Part 4 cove ..read more

Fall reporting season is upon us yet again. Most U.S. states require holders to file reports by either Oct. 31 or Nov. 1. Following are reporting deadlines for these states, along with helpful links. This list is not exclusive to a specific holder industry, so please check the states’ websites for information on industry-specific reporting information and deadlines. Because of the amount of information included, this guide will be published in four parts over the next two weeks: Part 1 covered Alabama through Hawaii. Part 2 covered Idaho through Minnesota. Part 3 covers Mississippi t ..read more