It is the mission of the Unclaimed Property Department of the Kansas State Treasurer to return unclaimed property to its rightful owners or heirs, the people of Kansas. To ensure that unclaimed property can be returned to its rightful owners, it is necessary that holders remit abandoned property to the Kansas State Treasurer once the statutorily defined dormancy period has concluded. Most businesses that possess abandoned property are compliant with unclaimed property laws, but some do not remit the property in a timely fashion or at all. Due to this, it is sometimes necessary for the Kansas State Treasurer to order an independent audit of a business that does not appear to be in compliance with Kansas unclaimed property statutes.
While independent audits are sometimes necessary, it is the goal of the Kansas State Treasurer to be as transparent as possible in this process. The Kansas State Treasurer currently contracts with Xerox State and Local Solutions Inc. for unclaimed property audits. The contract between the Kansas Treasurer and Xerox can be found online here. It is very important to note that the Kansas Treasurer retains control of the audit process. All audits must be approved by the Treasurer before they may begin. The Kansas State Treasurer’s office will maintain a working relationship with the holder that is being audited throughout the audit process. This is part of our effort to balance making the auditing process as nonintrusive as possible with our mission of returning unclaimed property to its rightful owner.
Finally, the Kansas State Treasurer understands that many times violations of unclaimed property reporting statutes are not done intentionally. To this end, we have implemented a Voluntary Disclosure Program. If a business has failed to file a report of unclaimed property and is out of compliance they may contact Jessica Schleif via e-mail at Jessica@treasurer.ks.gov or via phone at 785-291-3173.
Byron J Harden
Unclaimed Property Director
"Holders" are businesses which hold property rightfully belonging to another and whose duty it is to report and remit that property as determined by applicable state law.
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