With a multi-billion dollar pension crisis on hand, Illinois seeks to use unclaimed property to be a funder to pension obligations.
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Illinois Unclaimed Property Compliance & Enforcement Update: Part I

April 30, 2019
2:00 PM to 3:00 PM EST

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Sue Nissen
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  • Summary
  • Webinar Recording
With a multi-billion dollar pension crisis on hand, Illinois seeks to use unclaimed property to be a funder to pension obligations. Accordingly, Illinois has stepped out as one of the initial adopters of ULC RUUPA with certain modifications. The Illinois law creates a "taxing effect" on holders who in many cases did not have obligations reportable to the state under the previous law. But now, these holders have reporting obligations as a result of the retroactive elimination of the business to business exemption coupled with other transitional provisions. Join BDO’s SALT practice, HMB Law, and the Illinois Chamber of Commerce for a must see and hear webinar on Illinois updates.
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