Alston & Bird Tax Blog

Escheat

Bracing for the Next Wave of Delaware Unclaimed Property Reform: Review of SB 103 and SB 104

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Our Unclaimed Property Team examines a pair of fast-tracked Delaware bills that would reform a swath of the state’s escheat laws in response to ongoing litigation and other disputes over audits and voluntary disclosure agreements. Defining, reporting, and liquidating virtual currencyAdopting a permanent expedited audit programRescheduling statutes of limitation, audit periods, and dormancy periods Read the full advisory here. [...]Read more

Challenges With Escheatment of Tax-Deferred Retirement Assets, Part 2

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Holders of tax-deferred retirement assets must weigh and balance significant owner-facing risks against a clear set of state-facing compliance requirements and risks. In this installment of “UP Ahead” for Tax Notes State, unclaimed property partners Kendall Houghton and Matt Hedstrom continue their discussion of potential challenges of a holder’s escheat compliance process for traditional and Roth IRAs. To read part one, click here. To read part two, click here. [...]Read more

Special Challenges with Escheating Tax-Deferred Retirement Assets

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Holders and custodians of retirement assets, such as 401(k)s, IRAs, and Roth IRAs, face numerous challenges associated with the potential escheatment of these tax-deferred retirement assets. In this installment of “UP Ahead” for Tax Notes State, unclaimed property partners Kendall Houghton and Matt Hedstrom discuss the scope of federal preemption in this arena and the concept of voluntary escheatment of tax-deferred retirement assets. Read the full article here. [...]Read more

Unclaimed Property Challenges in the Health Care Industry

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States across the country are undertaking unclaimed property audit campaigns. These audits are targeting large national health care providers and insurance companies. Learn from Unclaimed Property partners Kendall Houghton and Matt Hedstrom why these audits raise HIPAA and unclaimed property concerns for the health care sector.

Click here to read the article.

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What Is the Future State of Unclaimed Property?

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Over the past two years, a series of sea-change developments in the unclaimed property compliance arena has impacted corporations in the U.S. As part of this series of articles produced by Duff & Phelps asking what's next, Kendall Houghton considers how investment assets will continue to generate audit disputes and litigation.

Read the articles here. [...]Read more