The Delaware Secretary of State (SOS) had previously indicated its intent to mail the latest round of VDA invitations on or about May 28, 2021. However, this date has changed to June 11, 2021.
Under Delaware law, the state cannot initiate an unclaimed property examination (audit) unless a company has first been notified in writing by the SOS that it may enter into the SOS VDA Program. Holders who do not enroll in the VDA Program within the 60-day notice period set forth in the letter will be referred to the Department of Finance for an unclaimed property audit.
As VDA invitations may be addressed to senior corporate executives, they often do not reach the person or group responsible for unclaimed property compliance in time to meet the 60-day deadline to prevent an audit.