Unclaimed Property: Viewing Recent Prepaid Card Policy Changes From an Unclaimed Property Perspective

Daily Tax Report: State provides authoritative coverage of state and local tax developments across the 50 U.S. states and the District of Columbia, tracking legislative and regulatory updates,...

Closed and open loop cards, gift cards, merchandise return cards, promotional cards—these are all types of prepaid cards that can be considered unclaimed property under state law. Unfortunately, there is very little consistency among the states and how they apply unclaimed property law to prepaid cards. In this article, author Michael Giovannini discusses how several states handle this complicated issue.