As states more aggressively push the limits of unclaimed property laws as a means to generate revenue, it's becoming more difficult for organizations to keep up with rapidly changing requirements.
To help them stay current and avoid escheatment and associated audits, organizations are increasingly looking to experts to assess their compliance and make recommendations for mitigating future risk.
To meet this growing demand, our sister company Georgeson has established an in-house consulting firm to help companies navigate the complexities of managing unclaimed property activities in all 55 U.S. jurisdictions (50 states, D.C., Puerto Rico, Guam, Virgin Islands and Northern Mariana Islands).
This team of dedicated unclaimed property professionals provides a range of services to guide and support clients through all aspects of managing unclaimed property. Here is a quick overview:
The practice offers a number of services to fit your company's particular needs:
- Unclaimed property compliance checkup – We provide a high-level assessment of the potential risk of noncompliance with appropriate state unclaimed property laws.
- Comprehensive compliance review – We preform a detailed risk assessment to quantify the potential risk.
- Remediation – We ensure only actual unclaimed property is reported.
- Compliance/voluntary disclosure agreements – We discuss options for becoming compliant with state unclaimed property laws are provided and discussed.
- Audit assistance – We help you navigate the unclaimed property audit process, which varies by both industry and auditor.
- Policies and procedures – We'll work with you to create a roadmap to remain compliant with future unclaimed property reporting obligations
Check out our website for more information on these services or to set up a meeting to discuss your unclaimed property needs.