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. [...]Read more