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  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel Corporate Law
  • schedule 90 minutes

Unclaimed Property: Legal and Ethical Considerations, Managing Risks From Increased State Enforcement

$297.00

This course is $0 with these passes:

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Description

Unclaimed property (UP) is a significant source of nontax revenue for many states. Every U.S. state has--and actively enforces--laws governing the disposition of UP. Moreover, UP law is developing rapidly and litigation and audits are on the rise. In 2023, the U.S. Supreme Court issued a ruling on an interstate dispute over UP, its first such UP ruling in several decades.

Most companies have the potential to generate UP and are responsible for the obligations associated with it. Because a property owner's state has first claim to the property, a company could have compliance obligations in multiple states. Counsel must ensure that companies know, understand, and comply with UP laws.

Listen as our expert panel guides companies and their counsel through the laws, trends, and compliance obligations associated with UP. The panel will discuss legislative changes, key case law decisions, risk assessments, reporting, strategies to mitigate risk, and more.

Presented By

Matthew B. Chenowth
Director
Baker Tilly US, LLP

Mr. Chenowth has extensive experience in unclaimed property consulting, specializing in the development and implementation of planning opportunities, as well as the performance of comprehensive diagnostic reviews and audit defense. Since 1999, he has worked in public accounting. Before entering public accounting, Mr. Chenowth also spent three years in the tax department at a large entertainment company where he assisted on numerous mergers and acquisitions allowing him to gain experience in the technical issues surrounding corporate restructurings. He is a frequent author and lecturer on unclaimed property issues.

James Sadik
Principal
Baker Tilly US, LLP

Mr. Sadik has 35 years of experience in all aspects of unclaimed property including the conducting of large-scale general ledger multi-state audits, voluntary unclaimed securities compliance and reporting, and audit defense. He currently specializes in the defense of publicly traded companies that are subject to multi-state unclaimed securities audits, audit defense of registered broker/dealers and banks, along with representing holders in a variety of industries including life and property/casualty insurance, retail, manufacturing, and energy exploration.

Robert Tucci
Principal
Baker Tilly US, LLP

Mr. Tucci has extensive experience in unclaimed property consulting, specializing in the performance of comprehensive diagnostic reviews, and multistate audit defense. Before joining Baker Tilly, he held the position of Managing Director at True Partners Consulting LLC, Co-Leader of Grant Thornton’s National Unclaimed Property Practice and Central Region Leader of Deloitte & Touche’s National Unclaimed Property Services Group. Mr. Tucci is a frequent speaker on unclaimed property issues.

Credit Information
  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

Date + Time

  • event

    Thursday, July 18, 2024

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. UP basics
  2. Trends in UP
    1. State law changes
    2. Increased self-audits and VDAs
    3. Increased litigation
    4. Increased state outreach
  3. Risk assessments
  4. Reporting
    1. Before escheatment
    2. Compliance calendar
    3. Key objectives
  5. Best practices and ongoing considerations

The panel will explore these and other relevant issues:

  • Key UP concepts
  • UP compliance in a multistate environment
  • Reporting and risk assessments
  • Best practices to manage and mitigate risk and ensure ongoing compliance