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Unclaimed property can come in a variety of forms such as unused customer/client credits, refunds, unapplied cash, and uncashed vendor checks. While some may view this as free money for a company, the reality is quite the opposite. All unclaimed property must be accounted for to the appropriate state and eventually must be returned to those states. Not properly accounting for unclaimed property may result in state fines and penalties or even criminal penalties.
By taking this course, you will learn the basic information required to properly account for unclaimed property within your company and how to prepare for any state audits of your company’s unclaimed property.
This course is designed as a refresher for those with some knowledge and experience, as well as for the beginner on the topic of unclaimed property.
This course covers the following:
- A definition of unclaimed property – what specifically qualifies as unclaimed property.
- A definition of terminology used in the regulation of unclaimed property.
- Common examples of unclaimed property.
- Reasons for why you should be concerned about unclaimed property.
- The rules of jurisdiction regarding states’ unclaimed property laws.
- The four basic obligations to meet for compliance with unclaimed property laws.
- How to prepare for a state unclaimed property audit.
- The hot button issues of unclaimed property audits.
- An example of how accounts receivable professional Brad Komarek of Arizant Healthcare, complied with unclaimed property laws, how he has implemented policies and procedures to comply with these laws and how he has reduced the amount of unclaimed property held by his company.
This is an On-Demand Course, allowing students to work independently and at their own pace to accommodate the time demands of busy professionals. Upon concluding the presentation/course material, the participant is required to take a final exam. Those who receive a grade of 70% or higher will receive an electronic “Certificate of Professional Development” from the Credit Research Foundation.
Registration Fees - $150
CRF Members receive a 20% discount on the course registration fee. Please contact Angela McDonald to obtain the code to enter at checkout. To register, CLICK HERE or cut and paste this link: http://crf.digitalchalk.com If this is the first time you are registering for a CRF On-Demand Course, please create a new account. Click on the “Catalog” tab and make your course selection.Back to the complete listing of CRF Courses