An effective compliance process helps ensure that an organization will remit only funds that “truly” represent unclaimed property. Abandoned Property Services has a well-established turnkey process for assisting organizations in meeting their unclaimed property obligations. Abandoned Property Services’ cost effective service enables organizations to better allocate their internal resources, while leaving the compliance process to fully dedicated unclaimed property professionals.

Abandoned Property Services will analyze an organization’s data and communicate exemptions and specific positions that can be used to reduce the apparent exposure; thus, reducing the risk of over reporting.

Due Diligence

Abandoned Property Services will draft and generate due diligence letters and additional jurisdiction correspondence to satisfy jurisdiction requirements.

Report Preparation

Abandoned Property Services will prepare timely reports in the jurisdiction required formats that include cover sheets, cover letters, electronic reports, and “negative” reports for jurisdictions where no property is reportable.

Annual Reconciliation

Abandoned Property Services will prepare a detailed reconciliation that includes data provided, reductions taken, amounts reported, and amounts not yet reportable. The information is prepared in a format that can be used to assist an organization with their accounting as well as support any future jurisdiction inquiries.

Dedicated Assistance

Abandoned Property Services will address report inquires from the jurisdictions (off-season as well as compliance season) and assist an organization in identifying and understanding the critical elements for a successful compliance process through identifying the necessary points of contact, developing a compliance calendar, establishing critical steps and assigning key dates.