State Unclaimed Property Compliance: California, New York, Texas, and More
Avoiding Escheatment, Establishing Policies, Jurisdictional Rules
Recording of a 110-minute CPE webinar with Q&A
This webinar will explore unclaimed property reporting and remittance requirements required by all U.S. jurisdictions with a particular focus on several key state programs. Our panel of unclaimed property experts will discuss the primary types of unclaimed property, dormancy and reporting deadlines, and strategies for reducing unclaimed property liability for businesses and their advisers.
Outline
- Unclaimed property: Introduction
- Examples of unclaimed property
- Rules of jurisdiction: Supreme Court cases
- Dormancy and Reporting deadlines
- Establishing written policies and procedures
- Best practices to limit exposure
- Voluntary compliance programs
Benefits
The panel will cover these and other critical issues:
- Types of property subject to escheatment
- When a business should consider filing a VCP/VDA
- California's newly created Voluntary Compliance Program, and other key state VCP/VDAs
Faculty
Nick Boegel
Tax Managing Director
BDO USA
Mr. Boegel has over 17 years of tax consulting experience. He has reviewed, researched and documented solutions for... | Read More
Mr. Boegel has over 17 years of tax consulting experience. He has reviewed, researched and documented solutions for complex state and local tax issues in the areas of income and franchise, sales and use, payroll and employment, and property taxes and unclaimed property. Mr. Boegel has expertise in identifying and serving multi-state client needs and performing creative tax and unclaimed property reviews to quantify potential savings via process improvements and prospective corporate restructuring projects. As the firm’s Midwest Unclaimed Property Practice Leader, he has established professional relationships with many of the state unclaimed property administrators in handling client matters, and has successfully negotiated voluntary disclosure agreements on behalf of clients and provided audit representation services. In addition, Mr. Boegel has significant escheat planning experience. Prior to joining BDO USA, Mr. Boegel worked with Arthur Andersen, PriceWaterhouseCoopers and Reinhart Consulting providing state and local tax compliance, consulting and planning services for public and private companies.
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Cherish B. Simmons
Managing Director
PwC US Tax
Ms. Simmons is a Managing Director with PricewaterhouseCoopers LLP (“PwC”) in the Abandoned and Unclaimed... | Read More
Ms. Simmons is a Managing Director with PricewaterhouseCoopers LLP (“PwC”) in the Abandoned and Unclaimed Property (AUP) practice. She has over twenty years of experience serving clients for unclaimed property issues in various industries. Ms. Simmons specializes in AUP and spends the majority of her time serving clients in this area. She rejoined PwC’s AUP practice in December 2015. At PwC, Ms. Simmons assists clients in a broad range of abandoned and unclaimed property services and directives aimed at minimizing exposure, reducing liability and managing compliance strategies. She has structured unclaimed property reporting and compliance programs for acquired businesses and new product developments, as well as, conducting third party and state directed unclaimed property audit defense engagements.
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Steven Swaigenbaum, CPA
Principal, CPA
Baker Tilly US
Mr. Swaigenbaum has extensive experience in unclaimed property consulting, with expertise in managing and... | Read More
Mr. Swaigenbaum has extensive experience in unclaimed property consulting, with expertise in managing and defending audits conducted by both third-party contract firms and states directly. He has developed proficiencies in the performance of comprehensive diagnostic reviews, quantification analysis including the use of statistical sampling, exposure remediation and annual compliance reporting. Mr. Swaigenbaum has spoken before organizations such as the California Society of CPAs, the Florida Institute of Certified Public Accountants, the Accounts Payable & Procure-to-Pay Network, and the Unclaimed Property Professionals Organization (UPPO), on the subject of unclaimed property.
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