Thursday, July 19, 2012
Breaking News: Delaware Secretary of State VDA Process Signed Into Law
Last week, we mentioned that Delaware was considering a second voluntary disclosure process, separate from the one run by the Department of Finance. That legislation was approved, and was signed by the Governor yesterday. A copy of the legislation can be found here, but the highlights are as follows: holders who come forward by June 2013 (and pay outstanding amounts by June 2014) will only have to review records back to 1996. Holders who come forward by June 2014 (and pay by June 2015) will only have to review records back to 1993.