Industry News

<- Back


New York Reduces Unclaimed Property Look-Back Period for Voluntary Compliance Program

New York State has recently shortened the look-back period for most property from 20 years to 10 years for unclaimed property holders participating in the State's Voluntary Compliance Program. However, the look-back period in an audit situation still remains at 20 years. Participants in the Voluntary Compliance Program are less likely to be subject to data extrapolation procedures as a result of the shortened 10-year period. An eligible participant in a Voluntary Compliance Program is a holder of unclaimed funds who has not been contacted for audit and is a “first-time reporting organization.”

To learn more, click here 

<- Back