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Forbes Warns Future Retirees About Unclaimed Property Laws

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In a recent article published in Forbes, state unclaimed property laws relating to certain retirement accounts like IRAs, 401(k)s and the like were scrutinized as potentially dangerous to the investing public. This article highlighted the recent legislative change in Pennsylvania and the administrative guidance that the Commonwealth had to publish because of the uproar caused by its new law. In PA this guidance is still viable, yet the statute remains on the books lurking in the background. The article contains good general information about managing and maintaining an ‘interest’ in your consumer retirement accounts, in order to avoid an account being turned over to the state and possibly liquidated.

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Tagged: ira escheat, 401k escheat, irs escheat, pennsylvania unclaimed property