Delaware VDA Program Sets April 23th Webinar For Program Update

April 12, 2013


WHO:  Delaware’s Secretary of State, Jeffrey W. Bullock will conduct his fourth informational webinar to answer questions regarding Delaware’s new Voluntary Disclosure Agreement (VDA) Program for unclaimed property compliance. The Secretary of State will provide highlights from his March 27 appearance at the UPPO annual meeting. If you represent a Delaware entity that has received multiple letters from Secretary Bullock inviting participation in the new VDA program, this webinar is for you!

WHAT:  The Secretary of State is committed to maintaining an open dialog with Holders and Holder Advocates through a series of webinars. Prior sessions were held in December, January and February. Audio files and power point presentations of the two most recent webinars are posted at www.DelawareVDA.com.

WHY:  In July of 2012, Governor Jack Markell signed into law Delaware’s new unclaimed property voluntary disclosure agreement (VDA) program. This new unclaimed property voluntary compliance program, administered through the office of the Delaware Secretary of State, provides Delaware business entities with a unique, but narrow-window to come into compliance with Delaware’s unclaimed property laws.

WHEN:  Tuesday, April 23, at 3 p.m. eastern, 2 p.m. central, and noon pacific. Web conferencing details will be e-mailed to each registrant.  Please note, this webinar has been
rescheduled from April 24.

HOW:  Registration information for this webinar can be found on the VDA program’s website (www.DelawareVDA.com) under the Upcoming Events & News tab.

ADDITIONAL TOPICS TO BE ADDRESSED:

Nearly 1,000 companies have received three separate letters from Secretary Bullock inviting them to participate in the new Delaware VDA program. While participation is voluntary, Secretary Bullock will share important information for firms that fail to respond. Non-respondents will be turned over to the Department of Finance and could become subject to that department’s audit process for unclaimed property. Once a company receives an audit notice, it is no longer eligible to participate in the Department of State’s new VDA program and forfeits many potential benefits associated with such participation.

QUESTIONS/CONTACT:
John Faulkner
Project Coordinator – Delaware VDA
Drinker Biddle & Reath LLC
302-467-4208
John.faulkner@dbr.com