State Releases Proposed Unclaimed Property Audit Standards; Michigan Chamber the Only Group to Testify

March 1, 2015

Reform of Michigan’s Unclaimed Property Act (UPA) – and the way in which this obscure law is administered – has long been a focus of the Michigan Chamber. Compliance with the UPA is a significant hidden cost of doing business and Chamber members particularly dislike the state’s continued use of contingency-fee paid auditors!  

Last week, the Michigan Department of Treasury released proposed UPA audit standard rules and the Michigan Chamber was the only organization to testify and make suggestions. To read the proposed rules, click here. To view the Chamber’s suggestions, click here

For more information, contact Tricia Kinley at (517) 371-7669 or tkinley@michamber.com

Unclaimed Property Reporting Update webinar