Unclaimed Property: What is it and how does it apply to banks?

As part of our In the Vault with KPMG banking podcast series, Liz L’Hommedieu, Principal in Washington National Tax and a leader for KPMG’s Banking and Capital Markets Tax practice, moderated a recent discussion with Will King and Marion Acord from KPMG’s State and Local Tax Unclaimed Property practice. In this podcast, they provided a brief overview of Unclaimed property and explained the challenges banks face when complying with state Unclaimed Property requirements. Will and Marion discussed the audit risks for non-compliance and outlined the impacts of the ever-changing compliance landscape with an eye towards customer impacts and considerations.

Will is a Principal and Marion is a Managing Director in KPMG’s State and Local Tax Unclaimed Property practice.

We hope you find this informative and insightful.