Delaware: Changes to unclaimed property law
Many immediate and some retroactive changes
The governor on August 15, 2024, signed Senate Bill 267, which made many immediate and some retroactive changes to the Delaware unclaimed property law.
Some of the more significant changes include:
- Limitations on the reporting of property owed to those with foreign addresses
- Reporting property prior to it becoming dormant (“early reporting”)
- Eliminating reimbursement of businesses that file amended reports
- Requiring that property presumed abandoned be held in trust for the Delaware State Escheator
Read an October 2024 report prepared by KPMG LLP