Unclaimed Property (Portfolio 1600)

Description

Tax Management Portfolio, Unclaimed Property, No. 1600, traces the history and evolution of unclaimed property law and brings today’s laws into sharper focus by providing a comprehensive overview of current unclaimed property laws and issues, including both common law and statutory law.
State unclaimed property laws are a patchwork of non–uniform requirements that have increasingly become a trap for the unwary. As states continue to aggressively pursue unclaimed property, by such measures as delegating collection authority to contingent fee auditors, an understanding of unclaimed property law becomes more important.

The Working Papers of this Portfolio contain reprints of the Uniform Acts (including the drafters’ comments thereto), reprints of some important U.S. Supreme Court decisions, and some charts that provide state–specific information.

Updates to the print and Internet version of the Portfolio will be incorporated directly into the Detailed Analysis.

Subscribers to the print version of the Portfolio will find late-breaking developments reported in the Bloomberg Tax Multistate Tax Report. Subscribers to the Internet version of the Portfolio will find late-breaking developments reported in the Bloomberg Tax Daily Tax Report – State.

This Portfolio may be cited as Millar, Houghton, Coalson, Hedstrom and Giovannini, 1600-3rd T.M., Unclaimed Property . Within the Bloomberg Tax Portfolio Series, however, references to the portfolios will include only the Portfolio numbers and titles.

Table of Contents

1600.01. INTRODUCTION
1600.02. DEVELOPMENT OF STATE UNCLAIMED PROPERTY LAWS
1600.03. DETERMINING WHICH STATE’S UNCLAIMED PROPERTY LAW MAY BE APPLICABLE
1600.04. TYPES OF PROPERTY THAT MAY POTENTIALLY CONSTITUTE “UNCLAIMED PROPERTY”
1600.05. POTENTIAL EXEMPTIONS AND DEFENSES TO ESCHEAT
1600.06. WHO IS REQUIRED TO ESCHEAT THE PROPERTY?
1600.07. DUE DILIGENCE AND REPORTING
1600.08. POST-REPORTING ISSUES
1600.09. AUDIT ISSUES
1600.10. HOLDER OPPORTUNITIES