Delaware Voluntary Disclosure Program for Unclaimed Property

As states look for new ways to generate revenues, unclaimed property continues to be a target. The State of Delaware recently established a new disclosure program which allows companies registered in the State to voluntarily come forward to ensure they are in compliance with its unclaimed property laws. Companies that elect to participate in the program by June 30, 2013, and complete the process within two years, will benefit from the following:

• Ability to self-direct the review;
• Elimination of risk of a costly and time consuming audit;
• Elimination of potential penalties and interest;
• Reduced look-back period by fifteen years.

Duff & Phelps assists companies in meeting, but not exceeding, their unclaimed property reporting obligations. Our professionals have decades of experience helping companies navigate the myriad of requirements to identify, track and report their unclaimed property. The countdown is on! Don’t miss the opportunity to participate in Delaware’s voluntary disclosure program.