As many of you may know, November 1st is the filing deadline for unclaimed property reports in 45 U.S. jurisdictions.  Many companies are likely preparing now for this pending filing season, and would likely appreciate an extra set of expert eyes on those returns prior to the final filing (at no cost to the company).

The premise of our review is simple: obtain the current dataset of items about to be reported from the company, and review to ensure accurate reporting.  We want to make certain that the company does not over-report, and all exemptions, deductions and exclusions are properly applied and maximized by the company prior to reporting.  The value here is obvious:

  • It requires very minimal resource allocation from the company
  • We typically turn around results in 3-5 business days (complete with full statutory citations)
  • We get paid a success fee based on what we identify & the company agrees to take to the bottom line

JMS Client Successes from Fall 2010:

  • Fortune 150 financial institution – review yields $600,000 savings
  • Fortune 50 manufacturing company – review yields $470,000 savings
  • Forbes Private 100 manufacturing company – review yields $140,000 in savings

In addition to the obvious fiscal benefit derived from this service, we also provide a written analysis outlining our thoughts on the company’s overall compliance processes, for purposes of making adjustments for future reporting.  JMS can also fully outsource the reporting function if desired.

Contact Tim Goodyear or James Santivanez for more information.

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