When you’ve been asked for evidence to justify your organization’s unclaimed property and escheatment efforts, one of the most important pieces is cost calculation. No one can figure it out exactly because there are so many variables, but you can clear the fog by identifying potential cost triggers and calculating different scenarios. Then it’s just a matter of balancing cost with risk.
Understand the questions, before you look for answers. What costs are involved in managing unclaimed property and escheatment efforts? What are potential penalties if a state says your organization has willingly ignored unclaimed property statutes? Are there ways to reduce costs? Can hiring an outside consulting company have a positive impact on price? This white paper will help you ask the right questions about financial impact and give you clues to the answers.
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