Many companies like to report unclaimed property as soon as it shows up as abandoned on their books. I understand the desire to get the records reported to the state and out of your hair, but you may wish to slow down and let those records age. Why is this important? One reason is that […]
We get this question almost every day through our support line. Nearly every state requires relationship code values on the records you are reporting. I’ll explain what they are, how to find them, and how to use them. NAUPA has a list of standard relationship code values. They can be found here on page 23. States have […]
States continue to move away from paper reporting in favor of electronic reporting. First, let me describe the true difference between the two types of filings as I know many holders are confused. Paper reporting means you enter all of your owner detail into forms approved by the state. Electronic reporting means you enter your […]
Article written By Bill Dadmun, Records and Receipts Manager; State of Virginia How many of you use the aggregate function when reporting? Does it make your life easier? Listen to this scenario and tell me if it sounds familiar. You get a call from someone that is due $49.95 from a credit balance. You know based on […]
In these modern times, security of sensitive data is at the forefront of everyone’s minds. Clients, vendors, and employees should be able to trust that their sensitive data such as social security numbers and account numbers are safe in your hands. You most likely have protocols in place within your company to maintain data security. […]
Due Diligence is the act of sending out letters to your lost owners or publishing their names in newspapers. Almost every jurisdiction has laws that require companies to perform due diligence. The most common requirement is to send letters 120 days to 60 days before your filing is due. You’ll definitely want to meet each […]
Reciprocal or exchange filing means reporting records to a state even though the last known addresses for the records are not in that state. For example, you are incorporated in Georgia so you send all states’ records to Georgia with the expectation that Georgia will forward them on to the appropriate states. I know firsthand […]