Is Your Unclaimed Property In-house Program Good & Compliant?
What makes a good Unclaimed Property Program successful and good?
Is your program one of them?
It is if it:
– Reduces any UP exposure to the various States;
– It is compliant with all of the State reporting laws, regulations and
requirements;
– Allows you to keep relationships with all account Owners over the
years;
– It reunites lost/unclaimed funds with its true & rightful Owner(s);
– It reduces the risks related to non-compliance, including:
• Possible fines & interest penalties
• UP audits and reviews;
– All employees understand UP & know where to turn with questions.