Advanced Issues in Dormant Accounts, Unclaimed Property & Escheatment

  • by ICBSD
  • Jan 30, 2020
  • 0

Date/Time
Date(s) - 01/30/2020
2:00 pm - 3:30 pm

Categories


Advanced Issues in Dormant Accounts, Unclaimed Property & Escheatment

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Don't miss this webinar.

Dormant accounts and unclaimed property cause unique – and often complicated – problems for financial institutions. Learn the dos and don’ts of escheatment.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

  • Understand your institution’s responsibilities under the uniform unclaimed property laws
  • Determine when an account is deemed “dormant” and when it is permissible to impose dormancy fees
  • Distinguish between unclaimed and abandoned property and which property must be escheated to the state
  • Identify when an active loan relationship can keep an account from becoming dormant
  • Select the best alternative for escheating cashier’s checks
  • Analyze the best procedures for escheating safe deposit box contents
  • Determine the states in which your institution is obligated to escheat property

WEBINAR DETAILS

Procedures and practices regarding dormant accounts and unclaimed property in safe deposit boxes have come under attack by both consumers and state agencies that are entitled to escheatment. This webinar will explain the Uniform Unclaimed Property Act and the tools that every institution needs to evaluate its practices regarding dormant accounts and unclaimed property. 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.

Attendance certificate provided to self-report CE credits.

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, service representatives, compliance officers, auditors, and managers.

ABOUT THE AUTHOR

ICBSD