Call NDB today at 404-483-8485 to discuss your organization’s needs for unclaimed property audits for Georgia. As a nationally recognized PCAOB CPA firm specializing in compliance and audit services, the unclaimed property audit experts for Georgia businesses at NDB can assist you in many ways.
Under the Georgia Unclaimed Property Act, when someone is a holder of property, for which that actual property belongs to somebody else (owner), but contact has been lost or severed with such owner for a specific period, that applicable property must be remitted to the state of Georgia. In essence, the state now serves at the chief custodian, thus allowing the owners an opportunity to lay claim to such property. For an ounce of clarity, just remember that when property is not in the hands of the rightful owner and it has not been abandoned, then it may be considered as Unclaimed Property. The most common types of Unclaimed Property for which the relevant laws apply are the financial assets, not real or personal property.
NDB Accountants | Unclaimed Property Audits Georgia | Auditors, Consultants | 404-483-8485As for the state of Georgia, anyone holding abandoned property is required by law to remit to the state once it exceeds the actual “holding” period. For Georgia, the “holding” period for many common unclaimed property goods is the following: