For Companies That Hold Unclaimed Assets of Current and Former Customers
CEDAR RAPIDS, IA--(Marketwire - Jan 31, 2012) - ETM, developer of UPExchange for unclaimed property reporting -- and Wings Plus for financial reporting and tax compliance -- has created a blog to address the varied needs of holders of unclaimed property. Fifty-four jurisdictions, including all US states and the District of Columbia, have unclaimed property programs. Each determines its own dormancy periods, due diligence requirements, aggregate thresholds, property codes, relationship codes, filing dates, and reporting formats.
"Regulatory requirements are unique for each state in mandating what to report and when," said Larry Kane, ETM's president. "There are 54 different processes in place for filing reports, attesting to their accuracy, and transmitting the associated payments. NAUPA's exclusive endorsement of UPExchange for free holder reporting gives us unique insight into state-specific unclaimed property initiatives. Working with more than 10,000 holders gives us constant feedback on ways to streamline reporting. And applying the newest and most relevant technology to transfer information from holder to state gives us a one-of-a-kind perspective on where reporting stands and where it is going. The blog is the forum for those who want to get and stay in the know."
The blog will include things such as:
- Upcoming filing due dates for states and other jurisdictions
- Tips on unclaimed property reporting and escheatment requirements
- Interviews with authorities on specific aspects of unclaimed property reporting for particular states
- Little-known laws and requirements; e.g., reciprocal reporting and TX vs. NJ
- The benefits of electronic filing formats
- Interactive discussions between users and states in a moderated comments section.