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Amnesty (Kansas Unclaimed Property)
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The intent of the Voluntary Compliance Program offered by the Kansas State Treasurer is to bring businesses into compliance with Kansas Unclaimed Property Laws.
A business must agree to report and remit all unclaimed property due to the State of Kansas for years covered in the "look-back period" (generally 10 years). Also, the company must develop procedures to ensure future compliance with Kansas Unclaimed Property Laws.
To that end, the business must examine its records, perform due diligence as required by law, prepare a report and deliver unclaimed property to Kansas within one year from the date of the voluntary compliance agreement.
In return, the state will waive penalties and interest.
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Added: Thu Jul 20 2006
