LoginCOMPLIANCE AND ANNUAL REPORTING
Fewer than 50% of all companies file unclaimed property reports and are compliant with state regulations. Our compliance specialists can help relieve the burden with:
- Customized service from unclaimed property specialists
The professionals at Thomson Reuters keep you up to date with compliance reporting requirements that vary from state to state. We team with you to develop a seamless approach to your unclaimed property reporting responsibilities by selecting service options that best fit your needs.
- Preparing due diligence mailings and provide call center support to handle responses
We can assist with the due diligence mailings, including unique "last contact" requirements mandated by some states. In addition to applying the state guidelines, preparing, and mailing the due diligence letters, our national call center is available to handle all inquiries generated by the mailings. Management will have transparency into the process through reports designed to provide status updates as well as archive documents that will be useful during future audits or negotiations with state officials.
- Preparation of unclaimed property reports, including special forms and diskettes/CDs, for all jurisdictions
We can prepare your state unclaimed property reports for all jurisdictions. In addition to any special state forms, we provide a management report to be used for reconciliation.
- Issue of payments to states, checks or EFT
We can issue payments to the states on your behalf for unclaimed property due including electronic funds transfers.
- Development of policies and procedures
We can assist in the development of customized written unclaimed property policies and procedures, as well as provide in-house staff training. Our specialists can help your company customize and implement its unclaimed property reporting procedures to ensure compliance with the states' unclaimed property laws.
As unclaimed property reporting requirements become more and more complicated and non-standard from state to state, now is the time to consider outsourcing the responsibility to a team of experienced professionals. Few companies have the dedicated resources necessary to research and stay abreast of unclaimed property reporting requirements to appropriately comply with the respective states' annual filings.
Staff turnover and downsizing creates an environment that leads to noncompliance with state unclaimed property laws and regulations. Outsourcing this function ensures consistency in compliance reporting from year to year while controlling costs and complying with states' unclaimed property laws.
Trust Thomson Reuters to assist you with your unclaimed property compliance requirements so that you can focus on what matters: your customers, your employees, and your core business functions.
Contact the ONESOURCE Unclaimed Property team today to see how you can reduce your unclaimed property risk and save time, resources, and money.
