Tracking the myriad of changes in abandoned and unclaimed property, featuring unapplied cash payments (Issue 9, July 2014)

Abandoned and Unclaimed Property Quarterly
This edition of AUP Quarterly highlights forgotten payments in abandoned and unclaimed property, specifically unapplied cash. State laws generally require the escheatment of abandoned and unclaimed property after a statutorily predetermined time period. Specific property types of abandoned and unclaimed property subject to escheatment may include uncashed employee checks, uncashed vendor checks, unclaimed deposits, customer overpayments, unidentified remittances, or gift certificates.  A less common type of abandoned and unclaimed property is unapplied cash payments. Since states are aggressively auditing abandoned and unclaimed property, companies should be diligent in their review and reporting of all potential abandoned and unclaimed property, including unapplied cash payments.


Abandoned and Unclaimed Property Quarterly archive