Unclaimed Property Essentials

This course provides a practical framework for understanding and complying with unclaimed property laws, covering legal foundations, property types, dormancy rules, reporting obligations, and audit exposure. It provides clear operational guidance, with industry-focused examples, governance considerations, and directly applicable risk management strategies. The course helps participants reduce their compliance risk, withstand audits, and implement defensible unclaimed property processes with confidence.
Format

PDF Course

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Duration

6 Hours

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Course Information

Author: Steven Bragg
Course number: AC1182

Learning Objectives
  • Recognize the principles underlying unclaimed property laws.
  • Recall the main policy concern related to early unclaimed property laws.
  • Recognize the reasons why property laws are not federally administered.
  • Specify the constitutional clauses related to unclaimed property enforcement challenges.
  • Recall why transaction-location-based priority rules are not used.
  • Recognize the effect that priority rules have on multistate holders.
  • Recall why states of incorporation receive unclaimed property revenues.
  • Recognize the factors interfering with audit estimate challenges.
  • Specify the property types that can trigger large aggregate liabilities.
  • Recall why private contractual forfeiture clauses are usually overridden.
  • Recognize when an obligation becomes fixed for dormancy calculations.
  • Recall the level at which dormancy analysis is performed.
  • Recognize the reasons for shorter dormancy periods for some assets.
  • Specify the obligations remaining for a holder that has remitted property to a state.
  • Recall the reason for statutory due diligence requirements.
  • Recognize why notices sent too early do not satisfy due diligence obligations.
  • Recall the trigger for a certified mail due diligence requirement.
  • Recognize the risks associated with electronic due diligence.
  • Specify why an organization should document its outreach efforts.
  • Recall why standardized reporting increases compliance pressure on holders.
  • Recall the reason for negative reporting.
  • Recognize why exclusion decisions must be documented.
  • Specify the remittance error that can create reconciliation problems.
  • Recall why remittance confirmations are important for a long period of time.
  • Recall the role of internal governance in unclaimed property compliance.
  • Specify the risk of relying on historical assumptions in unclaimed property compliance.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: None
Latest Review Date: February 2026
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.