2020 Q4

Unclaimed

Property

The National Association of Unclaimed Property Administrators (NAUPA) is hosting a webinar - Fundamentals of Unclaimed Property Reporting for Holders - on Wednesday, December 2, 2020, from 2:00pm – 3:30pm ET | 1:00pm – 2:30pm CT | noon – 1:30pm MT | 11:00am – 12:30pm PT.

needed to file accurate reports. Key terms will be defined and core concepts such as dormancy periods, due diligence, and reporting requirements will be provided by a panel of experienced state administrators. Following the formal presentation, engage with state administrators in an exclusive Question & Answer session.

In this 90-minute webinar, participants will learn the essential unclaimed property fundamentals and skills

Learn more and register here.

North Carolina

landing page! The Holder Payment portal is a feature that allows holders to submit a payment if paying by ACH and their report is submitted via the Holder Reporting portal. Visit the Reporting Library to locate additional reference materials and guides to assist in compliance with North Carolina General Statute NCGS 116B. If you have questions, please contact us by email at: upre- ports@nctreasurer.com.

While North Carolina encourages holders to report and remit by November 1, the reporting deadline has been extended until January 31, 2021 for businesses directly impacted by the Coronavirus pandemic. Formal requests for an extension are not required. Visit our website at NCCash.com to find out more about the holder reporting process. The Holder Information and Reporting tab links to North Carolina’s 4 Step Reporting Process. Holders may submit their reports directly to North Carolina using the Holder Reporting portal found on the NCCash.com

Colorado SB 88 Update By: Gary Joseph, MBA, CIA

Colorado

CO SB 88 has gone LIVE!

Staying true to form, the unclaimed property landscape continues to evolve as states continue to pursue uniformity with their peers. In its latest attempt to achieve a uniform unclaimed property act, the Uniform Law Commission (“ULC”) finalized the Revised Uniform Unclaimed Property Act (“RUUPA”) in 2016. Since that time, some states have elected to limit the number of updates to their law, while others, such as Colorado, have introduced significant revisions. In this article, we’ll address the updates to Colorado’s unclaimed property statute that directly impact the energy sector.

With the enactment of Senate Bill 88 (“SB 88”), Colorado is the latest state to materially revise its unclaimed property statute. The revisions are heavily influenced by the Revised Uniform Unclaimed Property Act and primarily focus on shortened dormancy periods, reduced exemptions and deductions, and revised due dates.

CO SB 88 was enacted on April 16, 2019 and became effective on July 1, 2020. While a number of the

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