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On June 7, 2019, Nevada Governor Steve Sisolak approved Senate Bill 44 which incorporates certain provisions of the 2016 Uniform Unclaimed Property Act into the Nevada Unclaimed Property Act.

This Week in Unclaimed Property Uniform Act News -- Colorado recently became the latest state to adopt a version of the 2016 Uniform Unclaimed Property Act.

New Legislation, Which Reduces Many Dormancy Periods To 3 Years, Is Effective July 1, 2020 On April 16, 2019, Colorado Governor Jared S. Polis signed Senate Bill 19-088 into law, which adopts a version of the 2016 Uniform Unclaimed Property Act.

Nevada is considering a bill "providing that all property rights and legal title to, and ownership of" of U.S. savings bonds would "vest in this State" after three years.

Recently, we posted an article addressing the potential pitfalls to owners arising out of the states' identification and handling of "unclaimed" securities accounts.

IRS Holding $1.4B in Unclaimed Refunds -- According to CBS News the Internal Revenue Service has announced that it has approximately $1.4 billion in unclaimed tax returns for more than a million taxpayers.

New Law Changes Funding & Notice Provisions On March 12, the Governor of Nebraska approved Legislative Bill 406 which amends various technical and administrative provisions of that state's unclaimed property act.

A Roundup of Odds & Ends From the Week in Unclaimed Property GAO Issues Report on Unclaimed 401(k) Funds -- The Government Accountability Office, which is responsible for providing recommendations to Congress on the responsibilities of the federal government, recently issued a report concerning th

Why Unclaimed Property "Activity" Standard Doesn't Make Sense for Long Term Investments Jessica Gorst-Williams, the "Agony Aunt" of U.K. newspaper The Telegraph recently ran an help column relating to a U.K.

A Roundup of Odds & Ends From the Week in Unclaimed Property Ohio Oops -- The Ohio Division of Unclaimed Funds recently issued 1099 tax forms to those individuals who claimed abandoned property from the state during the prior year.

Earlier this year, in Revenue Ruling 2018-17 the IRS issued guidance stating that holders of traditional IRAs required to report IRA assets to a state as unclaimed property were required to withhold federal income tax upon such amounts and issue a 1099-R form indicating the owner as the recipient of

Recently, Ohio passed House Bill 353, which broadens the scope of the current exemptions for gift cards and gift certificates under the unclaimed property act.  Effective January 22, 2019 the bill will exempt certain "open-loop" prepaid cards, "closed-loop" prepaid cards, and rewards cards.  The rev

You may not have noticed, given that there was almost no news coverage of it, but this past Tuesday was Election Day in the United States.  While the consequences of that election on national policies are being hotly debated, there were several elections that may impact the future course of unclaime

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The office of the Illinois State Treasurer, Michael Frerichs, recently announced a new program called "Money Match" which is intended to reunite more Illinois residents with their unclaimed funds.  Under the new program, the state will send written notification to all apparent owners of property hel