Unclaimed Property

Q. If we receive a response back from a due diligence letter that the person/company has determined they are still owed the unclaimed property, are we able to send that payment via EFT rather than… Read More

Q. We have a customer that has an accounts receivable credit balance, which has come to one of our facilities, but as a transporter for another company, not their own company. For example, XYZ… Read More

Q. Can you advise if we are required to put an ad in the newspaper in regards to unclaimed funds for the state of New York? A. (Answered by Jim Sadik, a Principal in the Unclaimed Property Solutions… Read More

Q. We are a holder of an accounts receivable credit balance for Company ABC. Based on research with applicable Secretary of State business searches, we learned Company ABC changed its name and later… Read More

Q. I would like to know if other panelists within their job functions have outsourced escheat functions either the whole process or some of the processes and any feedback you all have on this such as… Read More

Q. I am reaching out to inquire about the specific process and accounting procedures for escheatment. Our organization is looking to ensure full compliance with the escheatment requirements, and we… Read More

Q. I was asked this question regarding unclaimed property. I work at a reinsurance company that deals a lot with insurance type payments, etc. We are entering into the PRT business (pension risk).… Read More

Q. We have instances where we are in contact with the payee of an uncashed check. The payee refuses to cash the check because they may not be happy with the settlement amount or that a lienholder is… Read More

Q. We are currently evaluating our unclaimed property processes to review areas of opportunities in a shared service environment. Are there any best practices that can be shared? A. This is a very… Read More

Q. What is the best practice for U.S. companies handling unclaimed property with countries such as China, which I can't find guidelines for? A. (Answered by Jim Sadik, ([email protected]), a… Read More