Colorado Revised Uniform Unclaimed Property Act (RUUPA) Update

When:  Oct 21, 2020 from 2:30 PM to 3:30 PM (MT)
Associated with  Denver - Centennial Chapter
While many industry professionals are aware of unclaimed property and how it arises, many lack a clear understanding of the standard processes and procedures associated with it. Participants will learn more about how unclaimed property arises, the best methods of identifying and remediating risk associated with it, and steps to resolving and reporting it correctly. We will also provide updates on changes enacted by the Revised Uniform Unclaimed Property Act, (RUUPA) that will affect your 2020 reporting.

Garth Farrend and John Olson with the Colorado Unclaimed Property Division will be joining us on October 21st at 2:30 PM MT to present a 1 hour CPE (Specialized Knowledge) on RUUPA with additional time at the end for questions. 

Learning Objectives

  • Examine the definition and purpose of unclaimed property, due diligence and reports
  • Learn about shorter dormancy periods under RUUPA and the elimination of the Colorado deduction .
  • Discuss recent legislative changes and new rules for expressions of interest.
  • Changes in 2020 when filing your unclaimed property reports.

Biographies:

GARTH FARREND

Garth is the Audit Manager at the Unclaimed Property Division.  He has enjoyed over 20 years of conducting and managing audits in public accounting, internal auditing, and in his current position in unclaimed property.  Garth is responsible for monitoring compliance and contacting noncompliant companies in order to bring those companies into compliance.  He leads field examinations, reviews voluntary disclosures and negotiates reasonable settlements.  Prior to working for the State, Garth was an internal auditor for Coastal Corporation. 


JOHN OLSON

John has been an auditor for the Colorado Unclaimed Property Division since April 2012, conducting desk and field audits.  Prior to joining the Unclaimed Property Division he was employed by the State of New Mexico’s Revenue Department as a Tax Auditor and Examiner for four years.  John also has previous experience as a residential mortgage underwriter.