Navigating State Escheat Laws: Understanding and Managing Unclaimed Wages

Avoiding Compliance Pitfalls: A Comprehensive Guide to Unclaimed Wage Reporting

Unclaimed Wages or Escheat laws are those of each state that require employers to report and remit amounts for checks that are uncashed by employees.

Failing to adhere to each state's requirements for reporting and remitting unclaimed wages can create significant compliance issues for employers.

This webinar by payroll expert Dayna J. Reum, CPP, FPC, will cover the unclaimed wage laws for all 50 states. It will help participants understand the distinction between reporting and remitting, as well as clarify what is considered unclaimed and Eschea.

It will also discuss the complexities and challenges with unclaimed wages.

Webinar Objectives

• What are unclaimed properties
• Difference between tangible and intangible property
• Review of state law dormancy period
• Who must worry about unclaimed property?
• What companies are at higher risk of audit
• Record Retention requirements
• Review of the meaning of due diligence in relation to trying to notify the employee of pay owed.

Webinar Agenda

• What are unclaimed Properties?
• When is property considered abandoned?
• Employer/Company risk
• How to handle an audit?
• Unclaimed Properties Compliance
• Special Payroll Concerns
• Best Practices

Who Should Attend

Payroll and Tax Professionals

Credit(s)

IRS CPE Credits: 1 Tax hour