Frequently Asked Questions
Should I just start filing unclaimed property reports if my company has never done so?
Likely not – your company’s decision to comply should not be taken lightly, as questions could arise from those jurisdictions in which filings are made for the first time. These questions should be anticipated (or preempted entirely) and responses planned in advance. More importantly, the company may be missing out on important benefits (including the waiver of interest and penalties) on the first filing pursuant to the negotiation of a voluntary compliance agreement – an opportunity which is forfeited if reports are simply sent in without forethought.
