{"product_id":"unclaimed-property-isbn-9780470278246","title":"Unclaimed Property","description":"\u003ci\u003eUnclaimed Property: A Reporting Process and Audit Survival Guide\u003c\/i\u003e breaks the unclaimed property process down into manageable steps that you can either handle on your own or with the help of a professional in the field. Author Tracey Reid presents a thorough introduction to every aspect of unclaimed property laws, clarifying what unclaimed property is, how the escheat laws apply to your particular circumstance, and how you can bring your enterprise into compliance with the least amount of manpower and cash outlay possible. \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Four Myths of Unclaimed Property 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMyth 1: “We Don’t Have Unclaimed Property.” 1\u003c\/p\u003e \u003cp\u003eMyth 2: “Unclaimed Property Compliance is Voluntary.” 1\u003c\/p\u003e \u003cp\u003eMyth 3: “If I Don’t Have Records, the Auditor Can’t Determine Any Unclaimed Property Liability for My Company.” 2\u003c\/p\u003e \u003cp\u003eMyth 4: “I Am Only Liable for Reporting Unclaimed Property to States Where I Conduct Business (i.e., Have Nexus).” 3\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 What is Unclaimed Property? 5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePurpose of the Unclaimed Property Laws 7\u003c\/p\u003e \u003cp\u003eTerminology 8\u003c\/p\u003e \u003cp\u003eWhat Types of Property Can Become Abandoned Property? 9\u003c\/p\u003e \u003cp\u003eWhen Does an Item Become Unclaimed Property? 10\u003c\/p\u003e \u003cp\u003eStates’ Responsibilities 12\u003c\/p\u003e \u003cp\u003eHolder’s Responsibilities 12\u003c\/p\u003e \u003cp\u003eNotes 14\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Basics of Unclaimed Property Reporting 15\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy You Must Report Your Unclaimed Property 15\u003c\/p\u003e \u003cp\u003eDetermining Your Liability 16\u003c\/p\u003e \u003cp\u003eWhere You May Have a Reporting Obligation: Jurisdiction 18\u003c\/p\u003e \u003cp\u003eDue Dates, Due Diligence, Aggregates, and Dormancy Periods 19\u003c\/p\u003e \u003cp\u003ePreparing the Report 20\u003c\/p\u003e \u003cp\u003eNote 22\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Calculating Unclaimed Property Liability 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGather Your Records 23\u003c\/p\u003e \u003cp\u003eIdentify Your Company’s Unclaimed Property Types 24\u003c\/p\u003e \u003cp\u003eDetermining Your Liability 24\u003cbr\u003e\u003cbr\u003e You Do Not Have All of the Records for the Audit Period: Determining the Best Estimation Technique for Your Company 28\u003c\/p\u003e \u003cp\u003eDo Your Due Diligence 34\u003c\/p\u003e \u003cp\u003eComplete the Final Summary Report and Pay the Money! 34\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Preparing for and Managing an Unclaimed Property Audit 37\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAudit Targets: Are You Next? 37\u003c\/p\u003e \u003cp\u003eOffense—Contact the States for a Voluntary Disclosure Agreement 38\u003c\/p\u003e \u003cp\u003eBeware the Gift Horse 39\u003c\/p\u003e \u003cp\u003eWhere to Start 40\u003c\/p\u003e \u003cp\u003eDefense—Your Company Has Received Notification of an Audit: Do Not Ignore the Letter! 41\u003c\/p\u003e \u003cp\u003eFirst Contact 43\u003c\/p\u003e \u003cp\u003eRecruit Your Team 45\u003c\/p\u003e \u003cp\u003eKnow Your Enemy: Unclaimed Property Auditors 46\u003c\/p\u003e \u003cp\u003eAudit Timeline 49\u003c\/p\u003e \u003cp\u003eRecords Requests 49\u003c\/p\u003e \u003cp\u003eOpening Meeting 50\u003c\/p\u003e \u003cp\u003eSite Visit and Records Analysis 51\u003c\/p\u003e \u003cp\u003eClosing Meeting 52\u003c\/p\u003e \u003cp\u003eFinal Assessment 53\u003c\/p\u003e \u003cp\u003eAppeal Process 54\u003c\/p\u003e \u003cp\u003eAudit Best Practices 55\u003c\/p\u003e \u003cp\u003ePost-Audit Cleanup 56\u003c\/p\u003e \u003cp\u003eNotes 57\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Developing Unclaimed Property Policies and Procedures 59\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCompliance Timelines: Due Diligence, Aggregates, and Dormancy Periods 64\u003c\/p\u003e \u003cp\u003eContent of Due Diligence Letters 65\u003c\/p\u003e \u003cp\u003eTiming of Due Diligence Mailings 66\u003c\/p\u003e \u003cp\u003eAggregates 67\u003c\/p\u003e \u003cp\u003eDormancy Periods 69\u003c\/p\u003e \u003cp\u003eRecord Retention Policies 70\u003c\/p\u003e \u003cp\u003eManaging Your Exceptions and Exemptions 70\u003c\/p\u003e \u003cp\u003eInternal Controls: Checks and Balances 71\u003c\/p\u003e \u003cp\u003eInternal Audits 71\u003c\/p\u003e \u003cp\u003eHandling a Desk Audit or Fishing Call from a State Auditor’s Office 72\u003c\/p\u003e \u003cp\u003eNote 72\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Exemptions and Exceptions to Unclaimed Property Reporting 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBusiness-to-Business Exemptions 74\u003c\/p\u003e \u003cp\u003eCurrent Business Relationship 78\u003c\/p\u003e \u003cp\u003eGift Certificates\/Gift Cards 80\u003c\/p\u003e \u003cp\u003eGift Card Corporations 85\u003c\/p\u003e \u003cp\u003eDormancy Fees 86\u003c\/p\u003e \u003cp\u003eCustomer Credits\/Credit Balances 89\u003c\/p\u003e \u003cp\u003eTangible Personal Property 89\u003c\/p\u003e \u003cp\u003eNotes 91\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Special Industry Considerations 93\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInsurance 93\u003c\/p\u003e \u003cp\u003eOffers to Settle 94\u003c\/p\u003e \u003cp\u003eDemutualization of Shares 96\u003c\/p\u003e \u003cp\u003eBanking 97\u003c\/p\u003e \u003cp\u003eWhen is an Account Considered Dormant? 97\u003c\/p\u003e \u003cp\u003eWhat Fees Can Be Imposed on Dormant Accounts? 98\u003c\/p\u003e \u003cp\u003eSafe-Deposit Boxes 98\u003c\/p\u003e \u003cp\u003eMoney Orders and Traveler’s Checks 99\u003c\/p\u003e \u003cp\u003eHealth Care 99\u003c\/p\u003e \u003cp\u003eNot-for-Profit Medical Service Providers 103\u003c\/p\u003e \u003cp\u003eOil, Gas, Utilities, and Energy 103\u003c\/p\u003e \u003cp\u003eOil, Gas, Coal Mining, and Other Mineral Mining Industries 103\u003c\/p\u003e \u003cp\u003eUtilities 105\u003c\/p\u003e \u003cp\u003eUtility Co-ops 106\u003c\/p\u003e \u003cp\u003eRetail 107\u003c\/p\u003e \u003cp\u003eCustomer Loyalty\/Incentive Programs 107\u003c\/p\u003e \u003cp\u003eGift Certificates\/Gift Cards 107\u003c\/p\u003e \u003cp\u003eNotes 108\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Foreign Unclaimed Property Laws 111\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eU.S. Laws on Foreign Escheat 112\u003c\/p\u003e \u003cp\u003eIndian Reservations 112\u003c\/p\u003e \u003cp\u003eU.S. Territories 113\u003c\/p\u003e \u003cp\u003eOther Nations’ Laws 115\u003c\/p\u003e \u003cp\u003eCanada 115\u003c\/p\u003e \u003cp\u003eUnited Kingdom 118\u003c\/p\u003e \u003cp\u003eAustralia 119\u003c\/p\u003e \u003cp\u003eNew Zealand 124\u003c\/p\u003e \u003cp\u003eHong Kong 127\u003c\/p\u003e \u003cp\u003eNotes 128\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Selected Legal Issues in Unclaimed Property Audits 129\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLack of Nexus as an Audit Defense 129\u003c\/p\u003e \u003cp\u003eDormancy Fees and Service Charges 130\u003c\/p\u003e \u003cp\u003eExpiration Dates and Other Contractual Limitation Periods 131\u003c\/p\u003e \u003cp\u003eUnclaimed Employee Benefits 132\u003c\/p\u003e \u003cp\u003eUnclaimed Property of Bankrupt Holders 133\u003c\/p\u003e \u003cp\u003eMergers and Acquisitions: Successor Liability 134\u003c\/p\u003e \u003cp\u003eAsset Acquisitions 135\u003c\/p\u003e \u003cp\u003eNotes 137\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 How Not to Be a Victim of Unclaimed Property Fraud 139\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePsychology of Fraud 140\u003c\/p\u003e \u003cp\u003eTypes of Fraudsters 141\u003c\/p\u003e \u003cp\u003eMitigating the Risk of Unclaimed Property Fraud 143\u003c\/p\u003e \u003cp\u003eNote 146\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Trends in Unclaimed Property 147\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLegislative Trends 147\u003c\/p\u003e \u003cp\u003eNon-Legislative Trends 150\u003c\/p\u003e \u003cp\u003eConclusion 153\u003c\/p\u003e \u003cp\u003eAppendix A XYZ Corporation: Unclaimed Property Holder Questionnaire 155\u003c\/p\u003e \u003cp\u003eAppendix B Sample Policy and Procedure Manual 159\u003c\/p\u003e \u003cp\u003eAppendix C Sample Due Diligence Letter 171\u003c\/p\u003e \u003cp\u003eAppendix D State Unclaimed Property Office Contacts 173\u003c\/p\u003e \u003cp\u003eAppendix E Sample Audit Records Request 185\u003c\/p\u003e \u003cp\u003eAppendix F Summary of Current Gift Certificate Law 187\u003c\/p\u003e \u003cp\u003eGlossary 201\u003c\/p\u003e \u003cp\u003eIndex 203\u003c\/p\u003e \"The book demonstrates the need for complying with escheat laws, and can teach readers how to develop a compliance system, as well as how to survive a state audit.\" (\u003ci\u003eAccounting Today\u003c\/i\u003e, January 26th, 2009)  \u003cp\u003e\u003cb\u003eTRACEY L. REID, JD, LLM,\u003c\/b\u003e is President of Reid Unclaimed Property Services LLC. Her company helps businesses of all sizes become compliant with state unclaimed property laws. Prior to forming her own company, she was a manager with a Big 4 accounting firm where she concentrated on unclaimed property.   \u003cb\u003eUnclaimed Property\u003cbr\u003e A Reporting Process and Audit Survival Guide\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003eUnclaimed property law enforcement has recently become the darling of politicians across the country looking for ways to increase their states' revenues without instituting new taxes that alienate their voters. In order to speed up the collection of unclaimed property, state laws are changing rapidly every year. While it can be almost impossible to understand the intricacies of all of the different state laws, it is possible to bring a company into compliance with the escheat laws it is subject to.\u003c\/p\u003e \u003cp\u003eProviding the necessary tools for companies to be in compliance with state unclaimed property laws, Unclaimed \u003ci\u003eProperty: A Reporting Process and Audit Survival Guide\u003c\/i\u003e presents the fundamentals of unclaimed property laws and explains how they affect a company's bottom line. Insightful and highly readable, this landmark guide breaks down the process into manageable steps for the escheat beginner and refreshes the seasoned professional, who has a system in place, with a check-up to find areas that need improvement. Thorough and practical in approach, this book expertly discusses:\u003c\/p\u003e \u003cul\u003e \u003cli\u003e \u003cp\u003eWhat an organization should do when notification is received of an audit\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eThe myths of unclaimed property\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eCalculating unclaimed property liability\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eWhy the auditor CAN determine unclaimed property liability for a company, even if no records exist\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003ePreparing for and managing an unclaimed property audit\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eDeveloping unclaimed property policies and procedures\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eLegal issues in unclaimed property audits\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eTrends in unclaimed property\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eHow not to be a victim of unclaimed property fraud\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eKnowing the enemy: types of unclaimed property auditors\u003c\/p\u003e \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eEquipping readers with sample due diligence letters and a sample policy and procedures manual, \u003ci\u003eUnclaimed Property: A Reporting Process and Audit Survival Guide\u003c\/i\u003e is an authoritative guide filled with practical, immediately useful advice to handling unclaimed property audits, understanding the nature of escheat laws, and how they will affect a company's bottom line.\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eUNCLAIMED PROPERTY\u003c\/b\u003e \u003cb\u003eA Reporting Process and Audit Survival Guide\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eUnclaimed property law enforcement has recently become the darling of politicians across the country looking for ways to increase their states' revenues without instituting new taxes that alienate their voters. In order to speed up the collection of unclaimed property, state laws are changing rapidly every year. While it can be almost impossible to understand the intricacies of all of the different state laws, it is possible to bring a company into compliance with the escheat laws it is subject to. \u003c\/p\u003e\u003cp\u003eProviding the necessary tools for companies to be in compliance with state unclaimed property laws,\u003cb\u003e\u003c\/b\u003e \u003ci\u003eUnclaimed Property: A Reporting Process and Audit Survival Guide\u003c\/i\u003e presents the fundamentals of unclaimed property laws and explains how they affect a company's bottom line. Insightful and highly readable, this landmark guide breaks down the process into manageable steps for the escheat beginner and refreshes the seasoned professional, who has a system in place, with a check-up to find areas that need improvement. Thorough and practical in approach, this book expertly discusses: \u003c\/p\u003e\u003cul\u003e \u003cli\u003e\u003cb\u003eWhat an organization should do when notification is received of an audit\u003c\/b\u003e\u003c\/li\u003e \u003cli\u003e\u003cb\u003eThe myths of unclaimed property\u003c\/b\u003e\u003c\/li\u003e \u003cli\u003e\u003cb\u003eCalculating unclaimed property liability\u003c\/b\u003e\u003c\/li\u003e \u003cli\u003e\u003cb\u003eWhy the auditor CAN determine unclaimed property liability for a company, even if no records exist\u003c\/b\u003e\u003c\/li\u003e \u003cli\u003e\u003cb\u003ePreparing for and managing an unclaimed property audit\u003c\/b\u003e\u003c\/li\u003e \u003cli\u003e\u003cb\u003eDeveloping unclaimed property policies and procedures\u003c\/b\u003e\u003c\/li\u003e \u003cli\u003e\u003cb\u003eLegal issues in unclaimed property audits\u003c\/b\u003e\u003c\/li\u003e \u003cli\u003e\u003cb\u003eTrends in unclaimed property\u003c\/b\u003e\u003c\/li\u003e \u003cli\u003e\u003cb\u003eHow not to be a victim of unclaimed property fraud\u003c\/b\u003e\u003c\/li\u003e \u003cli\u003e\u003cb\u003eKnowing the enemy: types of unclaimed property auditors\u003c\/b\u003e\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eEquipping readers with sample due diligence letters and a sample policy and procedures manual, \u003ci\u003eUnclaimed Property: A Reporting Process and Audit Survival Guide\u003c\/i\u003e is an authoritative guide filled with practical, immediately useful advice to handling unclaimed property audits, understanding the nature of escheat laws, and how they will affect a company's bottom line.    \u003ci\u003eUnclaimed Property: A Reporting Process and Audit Survival Guide\u003c\/i\u003e should be in every business library. Written, by Tracey Reid, an unclaimed property expert, this book makes an almost unintelligible process, that of unclaimed property, understandable to the average business person. And as Reid explains, unclaimed property has become the darling to state legislators looking to balance their budgets. Whether your company has never filed and is wondering how to get started or, heaven forbid, the auditors are standing on your doorstep or you’ve been filing for years and want to make sure you are doing it correctly, this is one book you should not miss.\"\u003cbr\u003e —\u003cb\u003eMary Schaeffer\u003c\/b\u003e, Publisher \u0026amp; Editorial Director, Accounts Payable Now \u0026amp; Tomorrow; Author \u003ci\u003eController \u0026amp; CFO’s Guide to Accounts Payable\u003c\/i\u003e + 15 other business books  \u003c\/p\u003e\u003cp\u003e“I've been in search of good resource material on abandoned property. This book presents the information without a lot of legal lingo in an organized and easily read format.”\u003cbr\u003e —\u003cb\u003eMarie Misterka,\u003c\/b\u003e VP, Accounts Payable Manager, BNP Paribas RCC, Inc.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990425747685,"sku":"NP9780470278246","price":75.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470278246.jpg?v=1761787777","url":"https:\/\/k12savings.com\/es\/products\/unclaimed-property-isbn-9780470278246","provider":"K12savings","version":"1.0","type":"link"}