Navigating the Top Unclaimed Property Reporting Challenges for Businesses
Unclaimed property reporting is an essential yet complex aspect of business operations. The intricacies of state-specific regulations, administrative burdens, and evolving compliance requirements can present significant challenges for businesses striving to achieve compliance. Thus, companies must be aware of the most common unclaimed property reporting challenges and the strategies for resolving them to ensure they […]
Mastering Unclaimed Property Compliance: Combining People, Processes, and Technology
Achieving unclaimed property compliance is no easy feat for companies. With rapidly changing laws that differ for each state, it is no wonder many holders struggle to report their unclaimed property correctly and on time from year to year. However, unclaimed property, can be manageable with proper training, documented procedures, technology and some help from […]
You Just Acquired a Company and a Huge Unclaimed Property Liability. What Now?
Acquiring a new company is an immensely exciting time for the business doing so. It is a time of expansion and opportunity, allowing that business to serve more consumers over a greater distance. However, many businesses fail to realize when they acquire another company this is not the only type of growth they may exhibit. […]
Unclaimed Property Correspondence: It Cannot be Ignored
Most businesses will have to go through the process of reporting unclaimed property at some point in time. Despite this being a shared experience for almost all business owners and their employees responsible for assisting with the process, many still dread the time they finally have to do so. Whether businesses have reported unclaimed property […]
How do unclaimed property experts help streamline compliance responsibilities?
Navigating unclaimed property compliance is a complex and ever-evolving process for businesses. With varying regulations across states and evolving reporting requirements to fulfill, staying compliant can be challenging. Ensuring compliance requires expertise and strategic planning. Thus, unclaimed property experts play a pivotal role in assisting businesses in streamlining their compliance efforts by offering specialized knowledge […]
Just Because You’re Reporting Unclaimed Property Doesn’t Mean You’re Doing It Correctly
When it comes to reporting unclaimed property, things, unfortunately, are rarely as simple as they may seem. With constantly evolving rules and regulations, it is hard to determine exactly what one must do to complete the process successfully. This confusion, unfortunately, is only compounded by the fact that each state has different procedures holders must […]
Holders of Unclaimed Property Can Be Owners Too
When it comes to the world of unclaimed property, holders are any companies that report unclaimed property. In fact, the states they report unclaimed property to are the ones that refer to them by this term. However, many may not realize that holders can actually also be owners of unclaimed property. Owners are the individuals […]
Our Company Received an Unclaimed Property Audit Notice – Now What Do We Do?
In the world of unclaimed property reporting compliance, receiving a notice that the company will be subject to an audit is not only stressful but also often scary. However, these notices cannot simply be overlooked and ignored to deal with these unpleasant feelings. Instead, companies must take these audit notices seriously and do everything in […]
Online Gaming Creates a New Kind of Unclaimed Property
With the legalization of online gaming and sports betting across the country, a whole new type of unclaimed property has been generated that companies need to be aware of and understand. This new type of unclaimed property is referred to as an online account. Online accounts are where online gamers and sports bettors have their […]
Delaware Ramping Up Enforcement Efforts with Verified Report Process
The state of Delaware recently made a significant changes to its unclaimed property law. It is important for all companies that report unclaimed property to this state to be aware of these changes, so they can remain compliant with the reporting process. According to 12 Del. C. § 1170(a), the state of Delaware is now […]
