The Indiana Attorney General’s Unclaimed Property Division recently sent notices to companies throughout the state and beyond, requesting they perform a self-directed compliance review and report any past due property by November 18, 2025. Unclaimed property is generated by nearly all companies in the ordinary course of business and is comprised of financial assets that are dormant and owed to third parties. The compliance review includes examining a company’s books and records across a variety of different operational areas that could give rise to unclaimed property liability, including accounts payable, accounts receivable, payroll, checking and savings accounts, certificates of deposit, cashier’s checks, and more.
Unclaimed property laws can be complex, and expertise is needed to properly identify property that meets the state’s criteria to be considered due and owing as unclaimed. Participation in this program also provides an opportunity to report past due amounts without being charged penalties and interest. Failure to respond to the state’s outreach may result in further compliance action, including audit, which can often expand in scope to include additional states.
If you have received a notice, or would like more information, please contact us to schedule a conversation with our team of professionals who are well positioned to assist you through the process.
Why Ryan? Ryan’s Abandoned and Unclaimed Property (AUP) experts bring a deep understanding of Indiana’s laws that will assist your company in identifying and reporting only the property that is truly unclaimed. Our team is comprised of skilled accountants, attorneys, certified fraud examiners, statisticians, former AUP administrators and auditors, and other professionals that bring more than 900 years of collective unclaimed property experience.
Please contact our Ryan AUP professionals listed below for more information on the Indiana Unclaimed Property Compliance Review and how it may impact your company.
TECHNICAL INFORMATION CONTACTS:
Mark A. Paolillo
Principal
Ryan
857.288.1976
mark.paolillo@ryan.com
Jeff Pickel
Principal
Ryan
617.699.3723
jeff.pickel@ryan.com
Susan Han
Principal
Ryan
442.244.2447
susan.han@ryan.com
Jeff Henshall
Principal
Ryan
404.682.1200
jeff.henshall@ryan.com
Christopher Jensen
Principal
Ryan
469.399.4142
christopher.jensen@ryan.com
Julia Killinger-Colbus
Principal
Ryan
443.956.8555
julia.killinger-colbus@ryan.com
Sonja Roman-Molina
Principal
Ryan
954.740.6240
sonja.roman@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.