Over the past several years, a major controversy has erupted between the issuers of product rebates to consumers, the rebate fulfillment companies and 45 states who are seeking to collect hundreds of millions in uncashed rebate checks as unclaimed property. Duff & Phelps' Unclaimed Property and Tax Risk Advisory practice was pleased to host a webcast on Uncashed Rebate Checks: Whose Money is it? This webcast included a discussion on recent developments that increase pressure on companies issuing product rebates to be in compliance with the unclaimed property provisions and what they can do to minimize an adverse financial impact.
Duration is 1 hour
- Receive an update on the recent litigation between 45 states and both the companies that issue product rebates and Young American Corporation, one of the largest rebate processing firms
- Learn the history of uncashed rebate checks, or "slippage" and why it has been kept off the radar screen for many years, only recently reaching major visibility to the states and rebate sponsors
- Listen to both sides of the argument, including a state representative and an industry expert
- Gain an understanding of why the issue can result in material financial implications for all rebate sponsors, recently having driven at least one major rebate processor into bankruptcy
- Discover what responsibilities issuers of rebate checks have to contact property owners and report uncashed rebate checks as unclaimed property
- State's enforcement program (use of third party auditors), for those who may not be in compliance
- Receive an update on the broader implications for issuers on past, present and future rebate initiatives
- Learn how companies can plan to minimize or avoid an adverse result
- Learn about the implications for other consumer incentive programs including, gift cards, debit cards and loyalty programs
Companies that issue product rebates to customers can learn more about how a recent court decision can affect past, present and future rebate activities by viewing Duff & Phelps' Client Alert: Uncashed Rebate Checks are latest Controversy between the States and Corporate America.
- Bob Peters, Managing Director, Duff & Phelps
- Hal Stinchfield, CEO, Promotional Marketing Insights, Inc.
- Steve Larson, Deputy Treasurer, State of Iowa
Valuation and consulting for financial reporting, federal, state and local tax, investment and risk management purposes.Valuation Advisory
Property tax, site selection, transfer pricing, sales and use tax and unclaimed property advisory.Tax Services
Unclaimed Property and Tax Risk Advisory
Assistance to identify, manage and implement controls relating to transaction taxes and unclaimed property.Unclaimed Property and Tax Risk Advisory