Lorman Webinar: Illinois Unclaimed Property Reporting
Director Troy Wangen helps attendees gain a better understanding of the Illinois unclaimed property laws and reporting requirements that will keep your company compliant.
If your company has employees, customers, vendors and/or shareholders, then your company has the potential to have an unclaimed property reporting obligation to one or all of 54 jurisdictions.
Who should attend?
This live webinar is designed for accountants, CFOs, controllers, accounts payable professionals, tax managers, presidents, vice presidents, bookkeepers and tax preparers.
No two states have the same statutes and rules for unclaimed property compliance which can create a nightmare for companies who want to be in and stay compliant. Failure to comply with state unclaimed property laws may lead to an audit and/or large interest and penalty assessments; sometimes doubling a company’s unclaimed property exposure. Whether you are the CFO or the person responsible for reconciling the bank accounts, unclaimed property affects almost all areas of a company and the more team members that are educated and trained, the easier it is to create and follow internal procedures for reporting. While providing a broad overview of unclaimed property in general, this topic will focus on Illinois’ own unique requirements and specifics for reporting unclaimed property which will change starting January 1, 2018.
- You will be able to identify the history of unclaimed property.
- You will be able to discuss voluntary disclosure agreements and audit initiatives.
- You will be able to explain how to establish internal policies and procedures.
- You will be able to review the Illinois revised uniform unclaimed property of 2017.
Credits (Live webinar only)
CPE 2.0 including Specialized Knowledge 2