Our Unclaimed Property Team examines the potential adverse impacts on holders as Colorado joins the list of states updating their unclaimed property laws by adopting a version of RUUPA that repeals its existing $25 reporting deduction but preserves the state’s existing treatment of gift cards.
- Impacted holders should consider redomestication
- Will the state apply the repeal retroactively and attempt to claw back deducted funds?
- Gift cards and gift certificates – maintaining the status quo
Read the fill advisory here.
