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Just Right Compliance® Services

Unclaimed Property/Escheatment Reporting & Due Diligence

Avoiding under- or over-escheatment

There’s a debate in the abandoned and unclaimed property industry about the way holders should determine amounts to be escheated to the states.

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Two keys to finding the proper balance:
1.

You have to have enough knowledge of the compliance process and audit procedures to thoroughly understand the law and the way auditors interpret it.

2.

You have to remediate issues with your organization’s stale-dated records, compliance processes and reporting habits to prove you are following the law.

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*Many companies over-escheat on purpose...

...either because they are too busy with other important business functions to dig for what they perceive to be inconsequential overages or because they just don’t want to take a chance they would be charged penalties.

Fortunately, MarketSphere has the knowledge and processes you need.

Our unclaimed property professionals have worked with hundreds of clients to analyze records, understand state statutes, identify ways to legally reduce escheatment and recommend courses of action to prove and reduce the burden of compliance. Many of our expert consultants have actually worked as state administrators and auditors with some of the nation’s largest and most respected recognized firms. They know what states and auditors look for, so they can confidently guide your compliance efforts. 

It’s not uncommon for reductions and exemptions to exceed MarketSphere fees.

Just Right Compliance® services allow you and your staff to focus on other important business tasks, knowing we are managing your abandoned and unclaimed property functions just right.

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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 Just Right Compliance ® quiz to find out!

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We Can Help You:

  • Resolve audits quicker, while reducing liability and costs
  • Negotiate fair Voluntary Disclosure Agreements (VDAs)
  • Develop comprehensive risk mitigation strategies
  • Create a documentation plan and regular reviews
  • Train staff, set up records and keep up with changing laws
  • Minimize the burden on staff and resources
  • Find peace of mind: 100% accuracy, transparent records, continuous access to staff, secure records and backups, insured funds

Whitepaper: 6 Most Important Ways to Avoid a U.P. Audit

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I would recommend MarketSphere to any company who would like to ensure “just right compliance” efficiently and effectively.

Director of Accounting representing a major Electronic, Components, and Accessories organization