Unclaimed Property

Q. We are currently evaluating our unclaimed property processes to review areas of opportunities in a shared service environment. Are there any best practices that can be shared? A. This is a very… Read More

Q. What is the best practice for U.S. companies handling unclaimed property with countries such as China, which I can't find guidelines for? A. (Answered by Jim Sadik, ([email protected]), a… Read More

Q. Is it okay to report abandoned property under the DBA of the owner of a property? A. (Answered by IOFM third-party unclaimed property advisor) It is best to report property to the state under the… Read More

Q. Currently we use an unclaimed property filing system to assist with compliance with unclaimed property. When we import properties into the filing system we have an issue with the same owner having… Read More

By Jim Sadik Trends, Challenges, and Opportunities People often ask me about the top trends I am seeing in unclaimed property in both accounts payable (AP) and accounts receivable (AR). In this… Read More

Q.  I am wondering what is common best practice out there when it comes to which group owns the unclaimed property escheatment process. Currently, this responsibility lies within our General… Read More

Q. California's dormancy period is three years; however, the funds we need to escheat belong to other states. My question is, when filing a holder report do we use the 3 years for CA or that… Read More

Q. I have been thinking about the current way we issue 1099s/unclaimed property and wanted to ensure we were correct as we have recently acquired additional companies that handle processes… Read More