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Maximum results, Minimal impact

Abandoned and unclaimed property, by some estimations, seems like a minor concern for tax, finance and accounting departments. However, as most unclaimed property professionals now know, it can sometimes be a sleeping giant. States continue to ramp up enforcement, and audit frequency is increasing. Significant penalties, interest, elevated escheatment amounts—even damage to a company’s reputation—are very real concerns.

Not the least of those concerns is management of the compliance and reporting process. The legwork is time consuming, costly and complicated: capturing stale-dated records, keeping up with state statutes, making sure due diligence letters meet regulations, dealing with sometimes-irate customers, identifying exposure to fraud.

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    The right people

    Our professional team tracks state statutes so you don’t have to. We masterfully manage the entire gamut of Due Diligence tasks, so you can avoid hiring specially-trained staff and paying hefty software licensing fees. MarketSphere experts know how to finesse even the most difficult customer communications and help you report and escheat accurately, with fewer headaches and better results. Our secret is digging deep to reveal and fix underlying issues using innovative solutions tailored to your situation.

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    The right tools

    Tested MarketSphere processes ensure Just Right Compliance® to avoid under- and over-complying. The unique MarketSphere Exemption Analysis can reduce escheatment by uncovering commonly missed exemptions. Using our unique Compliance Enhancement program, we can assess your unclaimed property functions end-to-end and recommend changes that plug holes, create efficiencies and save time and money.

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    The right approach

    MarketSphere compliance experts provide customized, consultative services to uncover and implement innovative unclaimed property and escheatment solutions. Let us help you reduce the impact of unclaimed property on your company.

We Can Help You:

  • Avoid having to keep up with ever-changing, varied state statutes
  • Prepare and send account owner letters, then skillfully manage inquiries
  • Transfer records and manage documents securely using our technical expertise
  • Manage complex compliance tasks using proven proprietary software
  • Save time and money by addressing underlying causes of unclaimed property issues
  • Avoid in-house costs related to personnel and software
  • Build relationships with state administrators and third-party auditors
  • Create a comprehensive program to manage compliance successfully into the future
  • Find peace of mind with 100% accuracy, access to consulting staff anytime, transparent accounts and insured escrow

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Read the blog: 5 aggressive U.P. tactics to help your company come out on top

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Facing an audit? Protect your company’s reputation.

MarketSphere offers consultative audit and advisory services to help you maximize results.

Learn More

Are you overcomplying? Undercomplying?

Are you reporting and escheating too many dollars? Or are you reporting too little and risking huge penalties? Take  two minutes to take the JustRight Compliance® quiz to find out!

Money

The review reduced ConAgra's unclaimed property payable by nearly 50% and allowed ConAgra to include the difference in its taxable income.

Randall D. Harvey, Vice President, Tax, ConAgra Foods