Overview
McDermott Will & Emery attorneys Eric D. Carstens and Diann Smith, together with BDO and the California State Controller’s Office Voluntary Compliance Program Project Director, participated in a webinar to explore California’s Unclaimed Property Voluntary Compliance Program (VCP) and the latest updates. Speakers provided a comprehensive overview of unclaimed property trends and recent changes to the state’s law establishing their VCP.
Discussion topics included:
- Overview of the VCP application filing, due diligence, and reporting process to be better prepared upon enrolling in the program.
- Frequently asked questions we receive from clients regarding the VCP.
- Review of legal cases and the importance of addressing legal considerations or positions in collaboration with the California State Controller’s Office.
- Interest abatement benefits of the California VCP along with multistate risk mitigation strategies.