Advanced Issues in Dormant Accounts, Unclaimed Property & Escheatment
On-Demand Webinar
StreamedJan 4, 2023Duration90 minutes
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
Unique, complex, and overseen by state regulators. That’s what dormant accounts and unclaimed property are.
Every
financial institution should have a rock-solid procedure for dealing with these
accounts and escheatment to the state. This webinar’s scenarios will awaken you to the attendant challenges and
compliance issues.
AFTER
THIS WEBINAR YOU’LL BE ABLE TO:
- Distinguish when an account is deemed “dormant” for dormancy fee purposes versus escheatment purposes
- Create procedures to keep accounts from becoming abandoned property that must be escheated to the state
- Identify which unclaimed and abandoned property must be escheated to the state
- Understand your institution’s responsibilities under the uniform unclaimed property laws
- Determine in which states your institution is obligated to escheat property
WEBINAR DETAILS
The financial industry’s procedures and practices regarding
dormant accounts and unclaimed property have come under attack by state
agencies which claim they are entitled to the escheatment of these accounts and
property. Dormant accounts and unclaimed
property are subject to complicated laws which can cause administrative
problems for your institution. This
webinar will explain the Uniform Unclaimed Property Act and the tools needed
for financial institutions to evaluate their related procedures and
practices. There will be a quick review of the basic rules before focusing on more
advanced issues. Since escheat laws
vary, this webinar will not cover state-specific escheat laws. However, you will be able to find your
state-specific escheat laws by using the contact information provided.
WHO SHOULD ATTEND?
This informative session
is designed for staff involved with dormant accounts and unclaimed property,
including deposit operations personnel, safe deposit box staff, account service
representatives, compliance officers, auditors, and managers.
TAKE-AWAY TOOLKIT
- Contact information for the unclaimed property administrators in every state
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission,
or republishing of any webinar to other institutions or those not employed by
your institution is prohibited. Print materials may be copied for eligible
participants only.
Presented By
Spencer Fane LLP
© 2023 FINANCIAL EDUCATION & DEVELOPMENT, INC