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Escheating a payment made to a foreign vendor
February 3, 2023
Q. I have a check that we issued a few years ago to a vendor in Canada but we paid in USD. What’s the process for Canadian checks? Do we have to complete our due diligence or escheat to the state?
A.
(Answered by Jim Sadik, a Principal in the Unclaimed Property Solutions practice with the CPA firm of Baker Tilly US, LLP. Baker Tilly offers experienced and practical help for unclaimed property compliance and consulting. You can learn more about Baker Tilly…
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