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Exemption Analysis

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Don’t just escheat—excel.

The ultimate goal of abandoned and unclaimed property business functions for a holder, other than to follow the law, is to save money—to keep from having to pay it out in penalties, fees, interest, and over-escheatment. You can take steps to reduce escheatment amounts legally, without risking an audit and associated penalties. If your company processes large amounts of unclaimed property, taking those steps could recover significant funds you might otherwise escheat unnecessarily, which amounts to 100% positive P&L impact.

MarketSphere’s proprietary exemption analysis software tool and the accompanying proven process for reducing escheatment amounts has added millions of dollars to our clients’ budgets since we began using it in 2003. Using this tool and process, your organization could identify savings that impact your bottom line right now.

Uncover unclaimed property accounting errors and statutory exemptions

MarketSphere professional consultants use proven proprietary processes and specialized software to analyze your records to identify items that pose accounting errors, duplications or allowed exemptions. Removing these items from your escheatment calculations reduces the amount you must escheat to the states. We review all items identified by the software, then further analyze stale-dated records to discover additional items. You receive a comprehensive report outlining each potential reduction in your escheatment amount, along with a recommendation for final escheatment.

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How much can exemption analysis lower escheatment?

The amount an organization can save through legal exemptions, errors, duplications and other reductions in escheatment depends on how much unclaimed property is processed. In some cases, we’ve uncovered past items escheated by mistake, resulting in return of those amounts by the states. We draw on many years of experience with hundreds of clients to assess your situation and determine whether the effort is worthwhile. 

No matter what the size of your company and unclaimed property burden, you are likely to save much more than you would earn using the same effort to sell product! Here’s an example that assumes we find $100,000 in savings through exemption analysis:

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We Can Help You:

  • Recover money and realize savings to offset the cost of other abandoned and unclaimed property consulting services, including due diligence administration and audit and VDA advisement
  • Ensure you are leveraging all possible advantages to escheat only what you are required to pay by law
  • Use the power of automation to uncover errors, duplications and exemptions that might be missed by the human eye
  • Take advantage of legal exemptions, such as the business-to-business exemption, which assumes businesses don’t need to be protected as consumers do
  • Proactively reduce the amount you are required to escheat using a unique analysis tool only available from MarketSphere

Whitepaper: The Financial Impact of Unclaimed Property

Read the blog: Balancing the risks & costs of unclaimed property

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 project not only helped us to clean up our processes and data, but additionally provided immediate return on investment as promised.

Controller in the Mortgage Banking industry