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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Sovos

Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.
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