Sunday, January 29, 2012
Reminder: Michigan Voluntary Compliance Program Application Deadline is January 31
As we mentioned last month, the State of Michigan is sponsoring Voluntary Compliance Program for holders of unclaimed property that may owe unclaimed property to the state. The program is open to both holders who have never reported unclaimed property and those who have reported (but underreported unclaimed property) to the state. If you are interested, better act fast. Pursuant to the program, interested holders must enroll by January 31, 2012, and will have until July 1 to file a report for the current report year and the four previous report years. In return, the state will agree to waive the interest and penalties that may otherwise be assessed for the late reporting or remittance of property.