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Answer the following questions and submit through the assignment link in Canvas. 1. What is the Uniform Unclaimed Property Act? 2. What are the most
Answer the following questions and submit through the assignment link in Canvas.
1. What is the Uniform Unclaimed Property Act?
2. What are the most common types of property that is abandoned?
3. What types of organizations are required to comply with the Uniform Unclaimed Property Act?
4. What types of due diligence must a company exercise when property is unclaimed?
5. Describe some of the internal control measures a company should implement to manage unclaimed property?
6. What are the two major reports required and how do they differ?
7. How often does a company have to report to the state?
8. What penalties can be imposed on businesses for non-compliance with escheat laws?
