How do I protect my company
and minimize exposure?
You protect your company by being proactive. Although an auditor may examine the last twenty-five years of your company's financial records, if your company undergoes voluntary compliance, some states may examine only the last five years. Consequently, ignoring the problem and waiting for a state to raise the issue could be extremely costly.
Can I solve my abandoned property problem in-house?
The laws are enormously complex.
- No two state unclaimed property laws are alike.
- There are over 100 types of abandoned property.
- Each state has its own set of schedules and filing requirements and forms.
- The process of auditing for endless years of abandoned property requires complex methodologies.
- Negotiating with state abandoned property departments requires knowledge and expertise.
APS offers companies "Big 4" expertise at lower cost.
An at-risk company needs a firm that specializes in abandoned property compliance especially one that:
- Understands compliance reporting requirements
- Understands voluntary compliance negotiation and representation
- Has a reputation for expertise, credibility, and integrity
- Has long standing business relationships with state administrators throughout the country
| Key Industries |
|---|
| Banks |
| Broker Dealer |
| Credit Unions |
| Finance and Securities |
| Healthcare |
| Insurance |
| Manufacturing |
| Mortgage |
| Mutual Fund Companies |
| Retail |
| Services |
| Telecommunications |
| Transfer Agents |
| Service |