Delaware is attempting to collect almost $1.4 million from a Tennessee company that failed to properly direct a single unclaimed paycheck worth all of $147 into the state coffers.
Generally, employers must remit unclaimed property such as paychecks to a state treasurer. Paychecks become unclaimed after they’re outstanding for a statutory holding period, customarily one year. Say you can’t locate a payee. If you have the person’s last-known address, you remit to that state. If you don’t, you remit to the state in which you are incorporated.