Beginning for tax year 2021, California will require businesses that file certain California tax returns to report their California unclaimed property filing history.  Specifically, most 2021 California business tax returns filed with the Franchise Tax Board (e.g., Forms 100, 565, and 568) have been updated to ask whether the entity has previously filed an unclaimed property Holder Remit Report with the State Controller’s Office, and if so, the date of the last report and the…

The Delaware Department of State recently sent a new round of letters to companies they identified as likely not being in compliance with Delaware’s unclaimed property laws. The purpose of these letters is to invite the companies into the state’s unclaimed property voluntary disclosure program (“Program”). If the company decides to not enter the Program, there is risk of audit. Below is a high-level overview of the Program, as well as certain considerations that must be weighed in response to the invitation letter.