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1/29/21 10:59 AM

Unclaimed Property Holder Alert: Delaware Updating Payment Instructions

by Heather Gabell

delawareDelaware’s Office of Unclaimed Property (OUP) has updated its payment instructions for wire and ACH payments, in advance of the upcoming March 1, 2021 Spring reporting deadline. 

 

Holders may contact Delaware OUP’s Receipts & Wires Unit to obtain the new payment instructions by email (preferred) or by phone:

Keeping up to date with the states’ reporting instructions can (and often will) change just prior to reporting deadlines and is one of the many challenging aspects involved in reporting unclaimed property to the states.  To stay in compliance with the unclaimed property laws, holders should also monitor legislative and regulatory changes that may impact their processes, including changes to dormancy periods, trigger dates, property types that are eligible to escheat, due diligence, and/or record retention requirements.

Contact MarketSphere for expert guidance and solutions. We partner with organizations to implement and maintain effective unclaimed property compliance programs and address critical issues of risk assessment, VDAs and audit situations with the subject matter expertise needed to obtain best outcomes .

Topics: Delaware, Reporting, Best Practices