What Is an Outstanding Check? Outstanding Checks 101
In some jurisdictions, uncashed checks may be classified as unclaimed property, requiring compliance with escheatment laws. These laws mandate businesses to remit unclaimed funds to the state after a specified dormancy normal balance period. Non-compliance can result in penalties, underscoring the importance of staying informed about state-specific obligations. Although the check clears the bank at …
What Is an Outstanding Check? Outstanding Checks 101 Read More »