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 keeping compliant with the rules and regulations of 54 separate U.S. jurisdictions. 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?