Unclaimed Property

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When a check goes uncashed, the money isn’t immediately yours. Unclaimed property, or escheatment, still belongs to whomever you were trying to pay – and every state and US territory has different requirements for what you do next. Failure to adequately document your search for the payee can result in massive fines. (In many states, these penalties are one of the largest sources of revenue for states, behind only income, property and sales taxes.)

The more than 100 articles below can keep you current on those due diligence laws to prepare you for your next Unclaimed Property audit.

To begin, we recommend: An Escheatment Primer Managing Unclaimed Property Risk State

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This template provides an example of an escheatment policy for unclaimed property handled by the AP Department. Format Microsoft

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This template is an example of a letter sent to a vendor addressing unclaimed property. Microsoft Word

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