Whenever you inquire about Holder and their unclaimed property reporting, their responses are normally:
– We don’t have any unclaimed property to report or remit.
– We already file our unclaimed property reports, but they are normally negative/zero reports (reports showing nothing to report).
– Our outstanding checks list have been reviewed and none of them reflect any outstanding checks.
– Any small dollar amount outstanding checks (ie. < $5.00) are written off.
Any of these myths can increase your risk of an unclaimed property audit.
For further clarification on any unclaimed property compliance issues, please reach out to a professional at PEACC.com at 410.303.5510 or email us at info@peacc.com
