Complying with the myriad of abandoned and unclaimed property (“AUP”) laws is increasingly complicated. All fifty states, the District of Columbia, Puerto Rico, Guam, and the US Virgin Islands continue to increase their scrutiny of regulatory compliance of companies to ensure they are in compliance with such laws. The result is that many organizations are experiencing an increase in audits and stricter escheat reporting requirements. Many companies struggle to establish a lasting process to maintain ongoing compliance. Businesses need to proactively search for unclaimed property - a process that can be time consuming, nuanced and costly.
Our proprietary unclaimed property technology, aupHOLDER, coupled with our experienced specialists and proven process, provides companies an end-to-end AUP compliance solution, saving time and money. We can work with you to custom-configure aupHOLDER and help transform the way you navigate the unclaimed property reporting process.
Our proprietary unclaimed property recovery technology, Corporate Asset Recovery System (CARS), automates the unclaimed property search process, maximizing and expediting the identification and recovery of unclaimed assets, including global unclaimed money. Automation is paramount to delivering unclaimed property recovery and reporting services.
A comprehensive corporate asset recovery program has the following components:
Identifies and recovers unclaimed property from all classifications
Uses powerful technology to maximize efficiencies and significantly increase search results
Understands the idiosyncrasies, processes and procedures to competently recover unclaimed property from thousands of sources
Maintains a library of up to date frequently used documentation to support claims and regularly track claim progress through payment
Maintains relationships with sources
Performs regularly scheduled and systematic searches of unclaimed property