Managing a company’s unclaimed property is a major undertaking. Beyond keeping an up-to-date inventory of both tangible and intangible property, there is the challenge of staying compliant with the rules and regulations of 54 separate U.S. jurisdictions and 3 Canadian provinces. Since regulations change frequently, constant vigilance is a necessity.
The fines and settlements for not complying with unclaimed property laws can amount to hundreds of thousands, if not millions of dollars. Is your organization at risk?