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.

Friday, September 6th, 2024
10:00 am - 11:30 am
3 Presenters
$299.00 or 1 Token

Includes: Live Access, 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 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.

Grant Faustino

Instructor Bio

Grant Faustino has been a member of Crowe’s State and Local Tax group specializing in unclaimed property since 2021. Prior to joining Crowe, he was a statistician at an unclaimed property audit firm specializing in statistical sampling and liability estimation. Outside of unclaimed property, Grant is a member of Crowe’s Tax Specialty Consulting Transformation Team where he focuses on process improvement and technology implementation both internally for teams at Crowe and for Crowe’s Tax clients. Grant received his Master’s degree in Economics from the University of New Hampshire.

Spencer Bray

Instructor Bio

Spencer Bray has been a member of Crowe’s State and Local Tax Group since 2023. He currently specializes in handling unclaimed property consulting and compliances services for Crowe’s Tax clients. Prior to joining Crowe, Spencer was a multistate tax professional at a Big 4 Accounting Firm specializing in State and Local Income Tax. Spencer received his Juris Doctorate degree from DePaul University School of Law and is a licensed attorney.