UP Policies & Procedures


Solve Unclaimed Property Problems at their Root

It’s important to be able to address unclaimed property issues expediently, so you can identify solutions and assure your company’s compliance as soon as possible, whether it’s to support an audit or the current reporting cycle. However, once immediate issues are solved, it’s advisable to dig deeper and capture procedural efficiencies at the root of your unclaimed property processes.

Addressing policies and procedures to create a solid foundation for your unclaimed property functions helps your organization:

  • Save money
  • Save staff time
  • Prove your compliance effort
  • Explain the big picture to leaders
  • Preserve your company’s reputation
  • Focus on more important business functions
  • Prepare you for an audit and potentially improve results
  • Integrate UP functions smoothly with other company processes

Tightening policies and procedures is one of the best ways to neutralize potential problems connected to unclaimed property—problems that can undermine your budget, corporate focus and reputation. 

unclaimed property policy manual

Unclaimed Property is not your Normal Accounting Process

Compliance and reporting of unclaimed property involves irregular cycles, multiple governances, higher stakes than other accounting processes, and higher visibility when things go wrong. For those reasons, to reduce costs and risks, specific unclaimed-property-centric policies and procedures are necessary.

MarketSphere’s professional unclaimed property advisors are experts in overcoming those challenges by analyzing client conditions, identifying best-practice policies and procedures, and helping your staff implement them to achieve specific goals. 

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    Process Analysis

    We gather information, review your current unclaimed property methods and interview key representatives from each functional area of your company to help us understand your situation clearly and better meet your needs.

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    We create a customized document using industry best practices and build a centralized compliance function into your own operational infrastructure. It’s transferrable, so anyone can take it over after operational changes.

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    We work with you to incorporate the new policies and procedures into your company, including performing a comprehensive unclaimed property training seminar for any staff impacted by the new processes.

We Can Help You:

  • Thoroughly review and analyze your unclaimed property situation, including business units, documents, methodologies, accounting procedures, record retention habits and more to determine best practices for better results
  • Formulate and document clear policies and processes, so no effort is wasted and you don’t have to keep reinventing the wheel
  • Provide a clear map of your unclaimed property management efforts, so company leaders can gain visibility and confidence in your success
  • Maintain consistency among participants in the processes to achieve efficiencies and prevent mistakes
  • Provide written procedures that can be followed by anyone, even after personnel turnover or changes in infrastructure and operations
  • Streamline UP functions, so you can reduce the potential negative impact unclaimed property has on your company
  • Establish a record of your company’s efforts to comply and your willingness to follow the law, which could work in your favor if you are audited

Blog: How to Tame a Wild U.P. History

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Let us help you gain the advantage of better unclaimed property policies and procedures for audits and compliance, so you can focus on more important things.

armored  audit How to protect your organization from the risks & liabilities of abandoned & unclaimed property audits

MarketSphere clearly has a high-level of expertise in Unclaimed Property issues. You dealt directly with our various third-party agents and helped us reduce unnecessary involvement from our employees.

Deputy Group Company Secretary, Global Communications Leader