A successful unclaimed property reporting process includes these important steps:
– Identify all unclaimed intangible property.
– Determine which State the property is reportable to.
– Calculate the proper dormancy period for each property type.
– Review for any property that may be exempt under current State law.
– Perform all State required Due Diligence/Search Letter functions.
– Review, generate & submit State reports & the remittance in the required formats and timeframes.
– Update/document all records related to property reported.
For further clarification on the State unclaimed property reporting process please reach out to a professional at PEACC.com by calling 410.303.5510 or email us at info@peacc.com
