At a Glance...
For the second time this year, the Delaware Department of
Finance has published draft regulations governing unclaimed
property audits. As required by law, these regulations address
Delaware unclaimed property audit procedures, estimation, and
sampling methodology, as well as unclaimed property
record-retention requirements. To the extent your company is under
audit by Delaware and is eligible to convert the audit to the VDA
program pursuant to the provisions of Senate Bill 13, the 60-day
timeline for electing to convert has not yet begun to run, because
these regulations were published in draft form. Comments may be
submitted through August 31, 2017. The regulations would likely
become final no earlier than October 1, in which case, the earliest
likely deadline for conversion would be November 30.
