Unclaimed Property Reporting

Unclaimed Property

On-time reporting, with all of the necessary data elements and the correct formatting, doesn’t have to be overwhelming.

Creating and submitting the required reports for unclaimed property compliance on-time, with the necessary property and owner information, and in the correct format for multiple jurisdictions, let alone on-time, is a big challenge that requires strong attention to detail.

Instead of wasting time processing and keeping track of all of this information across all applicable jurisdictions by your own in-house methods, you need to automate these activities; it’s the more reliable way to ensure that your reporting is compliant, complete, and on-time.

Trintech’s Unclaimed Property Compliance System® (UPCS) can help you make sure you never have to worry about this time-consuming reporting process. The solution automatically creates all the required reports for the 50 states, District of Columbia and U.S. territories using the property records in the UPCS system. The comprehensive reports, both paper and electronic, for each jurisdiction are fully compliant with applicable laws and regulations and securely housed to prevent fraud. For internal management reporting purposes, UPCS also creates reports with both pre-developed templates and custom design options.

UPCS automates the escheatment process from start to finish, saving time and eliminating errors, noncompliance, and opportunities for fraud.

Data Management & Reporting

Your unclaimed property data can be imported from any source, and each record will be automatically evaluated to determine the potential owner, applicable jurisdiction, reporting requirements, and any other applicable jurisdictional rules.

Exemption Identification

Property that is exempt from unclaimed property laws in each jurisdiction is automatically recognized at the time of state report creation. Thus, you can eliminate any errors or confusion when it comes to keeping property that rightfully belongs to your company. UPCS identifies all jurisdictional exemptions, including gift cards, business to business payments, payroll, etc.

Deadline Compliance

To prevent manual errors and other types of costly oversight, rules for each jurisdiction are automatically applied to each property. Your data is automatically classified at the time of import and record creation and consistently applies those rules, including key deadlines, from start to finish.