Advanced Issues in Dormant Accounts, Unclaimed Property & Escheatment
On-Demand Webinar:
StreamedApr 2, 2024Duration90 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 best
practices.
AFTER THIS
WEBINAR YOU’LL BE ABLE TO:
- Distinguish between when an account is deemed “dormant” for dormancy fee purposes versus escheatment purposes
- Create procedures to keep an account from becoming abandoned property that must be escheated to the state
- Understand when unclaimed and abandoned property must be escheated to the state
- Explain your institution’s responsibilities under the uniform unclaimed property laws
- Determine the states in which your institution is obligated to escheat property
WEBINAR DETAILS
Dormant accounts and
unclaimed property pose unique, and often complicated, problems for financial
institutions. Procedures and practices regarding dormant accounts and
unclaimed/abandoned property have come under attack by state agencies which claim they are entitled
to escheatment.
This webinar will explain the Uniform Unclaimed Property Act
and the tools needed to evaluate its procedures and practices regarding dormant
accounts and unclaimed property. It will quickly review the basic laws and then
focus 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.
TESTIMONIALS
"Elizabeth speaks with knowledge and in an engaging manner."
- Michelle, Homebase Federal Credit Union
"The presenter explained everything in great detail. After the webinar I felt validated in all the practices we currently do, and I personally haven't had to escheat a safe deposit box yet, but after this webinar I feel prepared to do so. The information about the inventory sheet was very informative and helpful."
- Theresa, ELGA Credit Union
Presented By
Spencer Fane LLP
© 2024 FINANCIAL EDUCATION & DEVELOPMENT, INC
