Gain a clear understanding of what is encompassed under unclaimed property as it relates to payroll and how to avoid legal pitfalls of unclaimed checks.
When checks, payroll cards and other types of instruments provided to employees for the payment of wages, bonus-es, or reimbursements, or to other vendors as compensation for personal services, are not cashed, utilized or lost; the businesses responsible for the payments are required by the laws of all States to file reports and transfer the payments to the state unclaimed property administrators of the State of the last known address of the payees, or to the State of incorporation of the business if the addresses of payees are unknown. Depending on the applicable State laws, reports and payments to States are due within six months to two years after the date of payments may be claimed by employees or vendors. The failure to report and remit unclaimed employee and vendor compensation when due may result in the imposition of penalties and interest. The failure to report and remit unclaimed wages and vendor payments, may also expense business to audits of their compliance with state unclaimed property laws for all other types of unclaimed property, including audits be private contingent-fee auditors. This program will help manag-ers of payroll and human relations departments, and other company personnel and consultants understand the pur-pose of unclaimed property and escheat laws; what their obligations are under these laws; how to determine to which states reports must be filed and unclaimed property remitted; when reports must be filed, and payments made; and how to reduce exposure for liabilities under these laws.
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Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
What Are Unclaimed Property and Escheat Laws?
What Types of Property Are Subject to Unclaimed Property Laws?
When Do Unclaimed Wages and Vendor Payments Escheat to States?
What Obligations Do Unclaimed Property Laws Impose on Holders?
Which State Is Entitled to Take Custody Over the Wages, Vendor Payments and Other Property of a Holder That Is Presumed Abandoned?
How Do Unclaimed Property Laws Vary Among the States?
What Is the Impact of Regulation E and the Use of Payroll Cards on Unclaimed Property Reporting and Remittance Requirements?
What Best Practices Should Be Used to Avoid Penalties and Unclaimed Property Audits?
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on March 19, 2025.
Call 1-866-352-9540 for further credit information.
- AIPB 1.0
- This program is acceptable for 1.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
- AK CLE 0.75
- Alaska attorneys may receive 0.75 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.0
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.0 hours credit.
- Arizona CLE 0.75
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 0.75 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 0.75
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 0.75 CLE hours of participatory credit.
- CT CLE 0.5
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 0.5 CLE credit(s).
- IL CLE 0.75
- This course was approved for a total of 0.75 hours of MCLE Credit by the Illinois MCLE Board.
- MO CLE 1.2
- This course qualifies for self-study CLE credit in Missouri.
- ND CLE 0.75
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 0.75 hours of CLE credit.
- NH MCLE 0.9
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 56 Minutes.
- NJ CLE 1.0
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.0 hours of total CLE credit.
- NY CLE 1.0 including Areas of Professional Practice 1
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Education- Noggin Guru, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- WI CLE 1.0
- This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 1.2
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.2 MCLE hours.
HR Certification Institute 0.75
- This E-Learning program has been pre-approved for 0.75 (General) recertification credit hours toward aPHR®, aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM), and SPHRi(TM) recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
SHRM 0.75
- Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 0.75 PDC(s) for the SHRM-CP or SHRM-SCP.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
- Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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- AK CLE 1.0
- Arizona CLE 1.0
- CA MCLE 1.0
- CT CLE 1.0
- HI CLE 1.0
- MO CLE 1.3
- NJ CLE 1.3
- NM CLE 1.0
- VT CLE 1.0
- WV MCLE 1.3
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Raymond P. Pepe
K&L Gates LLP
- Of Counsel, K&L Gates LLP
- Has a wide-ranging state administrative law practice that includes state and local taxation, unclaimed property, and the representation of financial institutions
- He has been involved with unclaimed property issues throughout his career, including being engaged in amending Pennsylvania’s unclaimed property law when he served as Legislative Counsel to former Governor, Dick Thornburgh; serving as a member of the Drafting Committee of the Uniform Law Commission that revised the Uniform Unclaimed Property Law in 1995 and 2015; and by assisting clients with unclaimed property audits, evaluations of the impact of mergers and acquisitions on unclaimed property liabilities, and assisting in the modernization of state unclaimed property laws
- Member of the National Association of Unclaimed Property Professionals and has been a Pennsylvania delegate to the Uniform Law Commission since 1983
- Has served clients as a member of K&L Gates since 1991 as an equity partner, and more recently as Of Counsel
- Graduate, Georgetown University and the Georgetown University Law School
- Can be contacted at 717-231-5988 or [email protected]
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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