Escheatment

Pro­grams

Pro­grams: Escheatment

State gov­ern­ment bud­get woes have resulted in increased pres­sure to find new meth­ods for rais­ing rev­enue from cor­po­ra­tions. Most states have begun focus­ing on enforc­ing escheat­ment laws, whereby the state takes pos­ses­sion of “unclaimed prop­erty.” This focus has recently turned on man­u­fac­tur­ing and dis­tri­b­u­tion com­pa­nies, with $10 of mil­lions at stake for larger com­pa­nies. The expo­sures for Credit Man­agers are the net credit bal­ances that exist for some cus­tomers – the states want that money. This pro­gram reviews the under­ly­ing the­ory, laws, com­pli­ance pro­ce­dures, risks of non-compliance, eval­u­a­tion of your company’s poten­tial lia­bil­ity, and strate­gies for reduc­ing this liability.