Catalogers’ Legal Challenges ’07 (and Beyond)

In order to limit their exposure, catalogers/multichannel marketers that haven’t been targeted for audit should consider entering into voluntary disclosure agreements (VDAs). Where available, VDAs usually permit companies to avoid interest and penalties and to limit the number of years they must “look back” in reporting unclaimed property. Generally, however, in order to qualify for a VDA, a company must approach the state before it receives a notice of audit.