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UNCLAIMED PROPERTY FOCUS is a blog written by and for UPPO members, featuring diverse perspectives and insights from unclaimed property practitioners across the U.S. and Canada. We welcome your submissions to Unclaimed Property Focus. Please contact Tim Dressen via with any questions about submitting a blog post for consideration and refer to our editorial guidelines when writing your blog post. Disclaimer: Information and/or comments to this blog is not intended as a substitute for legal advice on compliance or reporting requirements.


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Practical Insights and Deeper Dives Highlight Annual Conference Sessions

Posted By Administration, Wednesday, January 9, 2019



Unclaimed property continues to provide a maze of compliance challenges for the professionals charged with managing their companies’ escheatment responsibilities. This year’s UPPO Annual Conference agenda offers a wide variety of sessions designed to help navigate that maze and keep up with the latest trends.


Managing Relationships

If your company is using third-party agents for employee benefits, payroll, equity or other services, understanding the roles of each party and ensuring everyone is properly fulfilling their responsibilities is essential to the unclaimed property reporting process. The Managing Your Third-Party Administrator session will offer tips for managing this important relationship.


The Bridging the Gap session looks at another key relationship – the one between holders and the states. This session will help attendees gain insight into building positive relationships with state administrators and maintaining a compliance program that is mutually beneficial to the holder, the state and property owners.


Emerging Property and Account Types

Unclaimed property compliance involves much more than uncashed payroll checks and customer credits. Dive into the specific requirements and considerations for unique account types in the unclaimed property process during the Unique Accounts with Unique Requirements session. Attendees with explore developments related to traditional and nontraditional retirement/IRA accounts, beneficiary accounts, HSAs and FSAs, and the effects of linking activity between customer accounts. 


Another rapidly evolving area of unclaimed property compliance is the world of virtual currencies. The Virtual Reality, Real Unclaimed Property session will look at issues arising from virtual currencies, blockchain technologies and modern incentive programs. Attendees will get insight into regulatory changes and practical considerations related to cryptocurrencies, virtual wallets and customer loyalty programs. 


Audits and VDAs

Always hot topics, unclaimed property audits and voluntary disclosure agreements will take center stage in several sessions. 


Unclaimed property professionals who haven’t yet been fully exposed to the audit process can gain an understanding of the concepts, timelines and expectations at the Audit 101 session. This introduction to audits will explore the scope and methodologies used by states and their third-party auditors. 


Holders under examination or participating in a VDA may be subject to estimated liability. The Estimation Under Audits and VDAs session will explore estimation methodologies and considerations and examine how states differ in their estimation practices. 


With so many companies incorporated in Delaware, that state spends a lot of time in the unclaimed property spotlight, but other states can’t be neglected. The Non-Delaware Voluntary Compliance session will look at VDAs in other states and when an informal approach may be more beneficial than a formal VDA. 


Not all third-party auditors were created alike. In fact, their processes and procedures vary greatly. The Third-Party Auditor Differences session will walk through the many different document requests that holders can expect throughout the audit process and will examine conflicting auditor requests when under audit by multiple states using different firms. 


View complete details about educational sessions and other 2019 UPPO Annual Conference events. The early-bird registration deadline is Jan. 28, so register today for the best rate.






Tags:  audits  cryptocurrency  IRAs  state administrators  TPAs  UPPO Annual Conference  VDAs  virtual currency 

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Shh…Unclaimed Property Secrets

Posted By Margo Strahlberg & Carla McGlynn, presenters at the Holders Seminar, Wednesday, August 7, 2013
Updated: Wednesday, August 7, 2013

We all know there is a lot of unknown information when it comes to unclaimed property. Each state has its own rules and at times the laws can be difficult to interpret. Carla McGlynn, partner at Unclaimed Property Consulting & Reporting LLC and Margo Strahlberg, associate at Bryan Cave LLP, understand this and will be filling in those gaps and sharing the "secrets” of unclaimed property at the Holders Seminar on Aug. 14 in Chicago!

Specifically, we will be giving our first-hand insights into how state abandoned property laws treat a variety of different property types, such as prepaid cards and rebates. We will also be diving into some of the nuances and legal quirks relating to business-to-business and de minimus exemptions, as well as exploring the impact from the Consumer Financial Protection Bureau’s preemption decision and New Jersey’s newly proposed rule.

In addition, we’ll be sharing the interviews we conducted with eight state administrators and asked them about everything from reciprocal reporting, to audits, to reporting extensions. This segment of the presentation will present an opportunity for attendees to ask questions and then we’ll present answers on behalf of the state administrators.

Here’s an example of a question we asked the state administrators

Q: What are the names of the third-party firms your state uses to conduct audits?

A: Florida responded that they use nine firms to conduct its audits. All other states provided the names of the firms their state utilizes.

Attend the session to find out the audit firms' names and much more!  This session is going to be great for anyone in attendance, from those just starting out to the unclaimed property veterans. Make sure to register for the Holders Seminar, to ensure you won’t miss out on the secrets.

More Resources

Join UPPO today and receive a special-member registration price at the Holders Seminar

Check out the State Administrator Forum for other Q&As with state administrators

Tags:  education  Holders Seminar  state administrators  unclaimed property  UPPO 

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Do You Know How to Communicate With the States?

Posted By Beth Stein & Robert Commodore, presenters at the Holders Seminar, Friday, August 2, 2013
Updated: Friday, August 2, 2013

Talking with state representatives can be a sticky situation for any unclaimed property holder – especially if you are new to the profession. The balance between sharing too-little and over-sharing information can sometimes be hard to find.

Beth Stein, managing director at SeaChange and Robert Commodore, senior director of Consumer Protection & Education (Licensing, Unclaimed Property) at the State of Minnesota are presenting a session, "How to Communicate with the States" at the Holders Seminar, Aug. 14-15. At this session, attendees will hear the invaluable advice of a third-party service provider and a state representative. We will be sharing with attendees the suggested practices when speaking with administrators, pros and cons of working with third-party resources, and general rules to keep in mind when speaking with states.

Helpful tips to keep in mind

  • Be cautious when sharing information with the state, but understand they need comprehensive information to give correct answers and provide assistance
  • Ask questions to the appropriate person within the state – typically start by contacting the state administrator.
  • Try to obtain answers and advice in writing to have proof of the conversation occurring, or, at a minimum, send the state contact an email summarizing the conversation
  • Keep in mind state administrators might be leery to give advice when holders are sharing too little about their specific case                                                                                                                                               
  • Depending on the issue, it may be advantageous to utilize a third party advocate to keep the company anonymous

Looking for more helpful tips? Register for the Holders Seminar today and plan on attending Robert and Beth’s presentation


Join UPPO for access to premier resources and subject-matter experts like Robert and Beth

Tags:  communication  education  Holders Seminar  state administrators  unclaimed property  UPPO 

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