Annual unclaimed property compliance is a statutory obligation that all companies are required to meet. JMS provides our clients with peace of mind through our various services and support. This can range anywhere from general inquiries about unclaimed property to facilitation of the entire compliance process.
Our professionals assess client data to determine unclaimed property reporting liability based on various state requirements such as: property type, abandonment period, due diligence, and statutory exemptions.
In an effort to return unclaimed property to its rightful owners, JMS personnel facilitate statutory due diligence activities following the initial data assessment. These activities include drafting and mailing due diligence letters to owners, tracking responses, and reissuing funds to eligible holders at the client’s request.
JMS can reduce client reporting obligations by taking advantage of various exemption and deductions resulting from B2B transactions, property type thresholds, and the exclusion of certain property types from state unclaimed property law language.
Reporting, the final step in the compliance process, is where JMS truly shines. JMS will ensure all documents are complete, executed, and sent to the states along with remittances in a timely manner. Clients will also enjoy ongoing support in the event states have any questions or concerns regarding previously filed reports.
Our staff has filed 1,000s of annual unclaimed property reports on behalf of countless clients for over 10 years.
We can defray costs across a wide spectrum of clients – saving them money, time and other important resources.
Our software allows us to efficiently process state reports and is constantly updated with the latest unclaimed property legislation and other developments.
Our TEM® service facilitates all unclaimed property compliance activities from start to finish. If you would like more information regarding TEM® Click Here.