Advanced Issues in Dormant Accounts, Unclaimed Property & Escheatment

Compliance Frontline & New Accounts IRA & HSA Operations

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

See Registration Options

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 agency is prohibited. Print materials may be copied for eligible participants only.

TESTIMONIALS

"The speaker was awesome and very clear in the delivery of the content."

-Sergio, Shaw-Ross Employees CU

"The presenter really knew her stuff and explained things in an easy to understand manner. She used real world examples that helped support her explanations."

-Marc, Summit CU