Track: Financial Accounting and Reporting

Escheatment Compliance Today and Tomorrow

Monday, October 20, 2008
10:30 a.m. - 12:00 p.m.
Room: 502 A

This session will cover unclaimed property compliance basics and then delve into changes in state legislation and policy that were inspired by the seminal Taylor vs. Westly case that are impacting business compliance on the national level. Other hot button issues to be discussed include: gift card and certificate exemptions and escheatment, rebate escheatment, and privacy issues related to the transfer of escheatment legislation.

Speakers:

• Karen L. Anderson
  Business Development and Project Manager
  Abandoned Property Services

• Dana S. Terry
  Senior Regulatory Compliance Analyst
  DST Systems, Inc.

Objectives

• Understand escheatment compliance requirements
• Analyze the impact the Taylor injunction inspired new compliance requirements
• Consider the future ramifications of possible decisions that may result in the Taylor and tangential lawsuits
• Understand gift card restrictions, B2B exemptions, tax exempt plan account reporting and escheatment data privacy

Pre-Requisites

• Basic understanding of business responsibilities relating to unclaimed property
• Basic understanding of legal proceedings

Take-Aways

• Listing of important, recent state statutory changes relating to unclaimed property compliance
• Escheatment resource listing

CPA Field of Study: ACCT