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Unclaimed Property Insights

UP Compliance in a COVID-19 Environment

The last thing people need to worry about now is how to maneuver the already complex requirements of unclaimed property compliance with the added concerns brought about by COVID-19. That’s why the Team at True Partners Consulting LLC has created a “just the facts” summary of relevant information below that we hope will be helpful as you try to determine the impact of COVID-19 to filing deadlines or extension requests.  […]

March 28, 2020

Maine Changes Prospective Reporting Requirements for Gift Obligations

Maine LD 1612 (HP 1164) was recently enacted, impacting Maine’s unclaimed property reporting requirements relating to gift obligations pursuant to 33 M.R.S. § 2067.  The new law will become effective 90 days after adjournment of the current legislative session, which is scheduled to end on April 15, 2020, and will alter the current requirement that amount reportable for an unclaimed of a gift obligation is 60% of the net obligation […]

March 12, 2020

Minnesota Requesting Proposals for Third-Party Unclaimed Property Audit Services

On March 2, 2020, the Minnesota Department of Commerce announced that it is requesting proposals for contracting with one or more vendors to act as an auditing agent for the unclaimed property program pursuant to its Uniform Disposition of Unclaimed Property Act, Minnesota Statutes, Chapter 345.  According to the announcement in the Minnesota Register, 44 Minn. Reg. 973, Request for Proposal (“RFP”) forms are available from the state by request.  […]

March 11, 2020