Unclaimed Property Compliance for Financial Institutions

This webinar will focus on the complex state unclaimed property reporting requirements and the unique challenges facing financial institutions.

Recorded Wednesday,
August 24th, 2022
3 Presenters
1h 30m total length
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Accounting/Reporting
  • Auditing
  • Compliance
  • Deposit
  • Deposit Accounts
  • IRAs
  • Risk Management/Legal
  • Bank Legal Counsel
  • Compliance Officer
  • Controller/Accountant
  • Credit Analyst
  • Deposit Operations Manager/Specialist
  • Internal Auditor
  • Risk Manager

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Financial institutions face the unique challenge of complying with state unclaimed property law while managing customer relationships and protecting customer assets. Escheating a customer’s account timely is critical to maintain compliance, but can also yield negative results and organizational risks if the customer is not truly lost or inactive.

This webinar will focus on complex state unclaimed property reporting requirements and the unique challenges facing banks and other financial institutions. Learn best practices to mitigate risk proactively, efficiently track customer contact, and monitor recent legislative updates that could impact your organization.

What You'll Learn

  • Overview of unclaimed property reporting requirements;
  • Trends impacting financial organizations;
  • Handling of unique property types, such as IRAs, CDs, and Safe Deposit Boxes;
  • State dormancy periods;
  • Exemptions and deductions;
  • Owner outreach and due diligence campaigns;
  • Best practices for maintaining contact with customers; and
  • Costly pitfalls and reporting errors to avoid.

Who Should Attend

Anyone responsible for the oversight, management, and reporting of unclaimed property; such as bank operations managers, compliance officers, risk managers, and internal auditors.

Zach Robbins

Instructor Bio

Zach Robbins has been a member of Crowe?s State and Local Tax practice since August 2015. He provides consulting and compliance services related to unclaimed property, credits and incentives, and sales and use tax. Zach has 5 years of unclaimed property experience and focuses his time on assisting clients with multistate compliance, voluntary disclosures, audit defense and risk mitigation. Zach received his undergraduate degree from The George Washington University in Washington, D.C. and his juris doctor from Suffolk University Law School in Boston. He is a member of the Illinois bar and certified by the Unclaimed Property Professionals Organization.

Jeff Sustarsic

Instructor Bio

Jeff Sustarsic has been a member of Crowe's unclaimed property practice since 2014. His primary focus is assisting clients with annual compliance and navigating complex reporting requirements. He has also assisted clients through arduous multi-state unclaimed property audits, developing policies and procedures, as well as software management and technology implementations. Jeff has experience across a number of industries, but focuses primarily on the unique challenges for financial institutions. Jeff received his Master's in Data Science from Indiana University.

Kristen McClellan

Instructor Bio

Kristen McClellan has been a member of Crowe's State and Local Tax group since 2019. She provides consulting and compliance services related to unclaimed property. Kristen specializes in multistate unclaimed property compliance, voluntary disclosures, and audit defense. Kristen received her undergraduate degree from Indiana University in Bloomington, IN and is a licensed CPA in Illinois.