For All Corporations, Not Just Insurers
Unclaimed Property Audits: No Laughing Matter
In recent months, unclaimed property audits have resulted in multi-million dollar settlements—most notably four 2012 insurance company settlements ranging from $7.2 million to $40 million. While probes have typically targeted large entities, legal alerts have pointed out that probes have expanded to medium and small organizations as well. Audits can be disastrous—and expansion of state government auditing staff indicates there will be a push to audit more. If your compliance is in question, you may want to alert your compliance or legal department.
StoneRiver solutions include unclaimed property software and services that work together to protect you from non-compliance penalties. Still learning about these unique reporting requirements? Unclaimed property includes items such as uncashed checks, unclaimed dividends, insurance benefits, security deposits, and overpayments that were never received by (or returned to) the owner. Read more about unclaimed property reporting.
There are several convenient paths to unclaimed property compliance, designed to meet every need.
- Outsource unclaimed property reporting to StoneRiver experts
- Install TRACKER® Unclaimed Property software on your network to streamline compliance
- Use TRACKER over the Internet as a hosted application (SaaS)
- Rely on StoneRiver unclaimed property compliance services