New and improved
- We added a new Shortened Dormancy column to the Compliance Resources > By State/Province > Property Codes page. This column is populated for the following states that have a shorter dormancy period for deceased owners: DE, FL, ID, IL, ME, and VT. If you are providing a Date of Death with your property records, this new shortened dormancy will be used to calculate the due date for properties due to report to these states. You may be required to send Due Diligence letters and report sooner if the owner's Date of Death is known.
- With the addition of the new shortened dormancy for DE, FL, ID, IL, ME, and VT, we have added an import warning letting you know that the due date might be sooner than expected if you are importing a Date of Death for properties reporting to these states. The new import warning reads: “Shortened dormancy applied due to death of the property owner. Some states require certain property types be reported sooner if the property owner's date of death is known
Read more about shortened dormancy.