Finders, keepers? Unclaimed property

Citation

(1999), "Finders, keepers? Unclaimed property", The Bottom Line, Vol. 12 No. 2. https://doi.org/10.1108/bl.1999.17012baf.023

Finders, keepers? Unclaimed property

The following Anbar abstracts are a review of the most pertinent recently published literature. They are selected for The Bottom Line from Anbar Management Intelligence, available by subscription from Anbar Electronic Intelligence.

Licenced copies of these articles are available at a cost of £6.00 (plus VAT in EU countries where applicable), US$11.00 per credit from Anbar Electronic Intelligence, 60/62 Toller Lane, Bradford, West Yorkshire BD8 9BY, UK. Prepayment for this service is required and, when ordering, please submit a cheque made payable to Anbar Electronic Intelligence. When ordering please quote the reference number and the credit level given at the foot of each abstract.

Finders, keepers? (unclaimed property)

O.R. Gray, K. Frank, R.V. Calvasina andF. Juadines in Management Accounting (USA), Dec. 1998 Vol. 80 No. 6: p. 49 (7 pages)

Explains that the US law on unclaimed property (e.g. uncashed dividend or pay cheques), which varies from state to state, requires businesses to list it on an annual return and turn it over to the appropriate state agency. Reports that many states are stepping up their enforcement policies to increase revenue and considers how to improve compliance, explaining the relevant rules in general terms and providing a checklist. Discusses the use of computer software (with a real example based on a health insurance company/UPCS software); the "7 & 11" plan developed by a utility company; and how to minimize costs and maintain accounting records. Lists the factors which may trigger a state audit and telephone numbers to check the law for each state; and gives contact details for a group which aims to improve the understanding of unclaimed property laws.

Subject(s): Legislation, Regulations, Property

Style: Technical

Reference: 28AE989 (1 credit)