Massachusetts Unclaimed Property Self Review Invitations

Sovos
April 8, 2021

MA Self Review Invitation Letters Update: April 2021

Pursuant to The Massachusetts Unclaimed Property Law (M.G.L.c. 200A), the Commonwealth of Massachusetts, State Treasurer’s Office (the “Commonwealth”) issued a wave of letters inviting companies to participate in their Self-Review Program.

The Commonwealth mailed notices to holders believed to be noncompliant with Massachusetts unclaimed property reporting laws and are holding property due to the state. Holders have 30 days from the receipt of the letter to respond by submitting accurate contact information to the state website. This timeline is shorter than other states, such as Delaware, who offer a 60 day response window. Upon response to the letter, holders may be contacted by a representative from Kelmar Associates, LLC (“Kelmar”) as the Commonwealth has contracted with them to assist with the administration of this outreach process.

If you receive one of these invitations, Sovos’ Unclaimed Property Consulting Team has extensive experience assisting organizations as a Holder Advocate, ensuring that all requirements of the Massachusetts Self Review program are completed in an efficient and compliant manner.

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Author

Sovos

Sovos is a leading global provider of software that safeguards businesses from the burden and risk of modern transactional taxes. As VAT and sales and use tax go digital, businesses face increased risks, costs and complexity. The Sovos Intelligent Compliance Cloud is the first complete solution for modern tax, giving businesses a global solution for tax determination, e-invoicing compliance and tax reporting. Sovos supports more than 7,000 customers, including half of the Fortune 500, and integrates with a wide variety of business applications. The company has offices throughout North America, Latin America and Europe. Sovos is owned by London-based Hg. For more information visit www.sovos.com and follow us on LinkedIn and Twitter.
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