Unclaimed Property Update Webinar

Top unclaimed property risks and opportunities heading into 2023

Location: Webinar
Start date:

11/29/2022 1:00 PM Eastern

End date:

11/29/2022 2:00 PM Eastern

Services: Consulting
Industries: Banking, Cannabis, Consumer Markets, Financial services, Fintech, Food & Commodities, Healthcare, Insurance, Life Sciences, Manufacturing, Metals, Private Equity, Construction & Real Estate, Retail Dealer, Supply chain, Technology, media & telecommunications
Unclaimed Property Update Webinar

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The unclaimed property landscape is rapidly evolving. Join this discussion to learn about the top five emerging trends every organization should be aware of heading into 2023.

In the face of budget shortfalls and other financial challenges, states are shifting their focus to a more rigorous pursuit of unclaimed property in an effort to close budget deficits. This additional attention has led to state administrators proposing new regulations and statutes to increase the enforcement of unclaimed property requirements and identify and target noncompliant companies.

Companies should be aware of ongoing changes, such as renewed state enforcement actions, legislation updates, recent litigation related to unclaimed property, and other areas of potential exposure. With advance preparation and proactive steps, organizations can minimize unclaimed property risks, close existing process gaps, reduce financial impact, and take advantage of the latest opportunities to come into compliance.

After attending this webinar, you should be able to:

  • Identify your organization’s risks and opportunities from recent changes to state unclaimed property law – none bigger than California’s new voluntary compliance program, which provides companies a unique opportunity to come into compliance without otherwise-required penalties or interest
  • Examine current lawsuits that could dramatically change the landscape of how companies handle unclaimed property – notably, recent whistleblower cases brought forth by former employees citing incorrect handling of aged liabilities
  • Recognize areas of particular interest to auditors that present unclaimed property exposure to your organization (including emerging industry trends)
  • Outline a plan of action and specific next steps to take full advantage of opportunities to mitigate risk and reduce the financial burdens of unclaimed property requirements (including penalties and interest, costly audits, strain on resources, and more)

Regardless of your organization’s unclaimed property filing history, opportunities are on the horizon to come into compliance and close existing process gaps.

Amid a challenging climate, the time is now to prepare and act fast in understanding the exposure your organization might have and determining how best to navigate the changing unclaimed property landscape in the year ahead.

Who should participate?

Finance and accounting professionals, tax practitioners, compliance and risk leaders, legal experts, unclaimed property specialists, and any other interested professionals

Presenters

Michael Unger, Principal, Consulting

Drew Park, Consulting

Colin Young, Consulting

Jasmin Harris, Tax

Additional information

For additional information on this event, please contact Jonathan Losey.

Continuing professional education

Prerequisites: None
Program level: Overview
Advance preparation: None
Delivery method: Webinar (group internet based)
Field of study: Specialized knowledge

This session is recommended for 1.0 hour of CPE credit.
Additional CPE information

There is no registration fee for participating in this webinar; therefore, there is no cancellation fee.

Note: All participants MUST be logged into the webinar INDIVIDUALLY to receive CPE credit. CPE credit will be granted only in the name of the individual logged into the presentation. Crowe LLP is unable to grant CPE credit for groups viewing the webinar.

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