JMS provides a full complement of services to meet your unclaimed property needs. Our exclusive practice in the unclaimed property arena allows our clients to achieve maximum results. Click on any of the headings below for a printable brochure (requires Adobe .pdf reader)
Analysis & Quantification
We will review your financial information in order to assist in determining the types of property and extent of unclaimed property exposure to all states. Our approach is formulated from these core principles:
- Cost-effective assistance for the client with its unclaimed property compliance processes; with the objective to be as thorough as possible by leveraging our experience and technological resources; and
- Proactive minimization of the client's unclaimed property reporting obligations through an aggressive, yet legal, application of statutory exemptions and generally accepted accounting principles.
Our professionals also remain cognizant of our clients' daily business activities, and work to minimize disruption.
State Voluntary Disclosure Negotiation
Once exposure is identified and accurately quantified, we will assist with negotiating with the states to voluntarily report and remit past due amounts - under the most favorable of terms. This may include - complete or partial waiver of interest and penalties, limitation of lookback periods, limitation of reported property types, and, limiting a state's right to audit your company or organization in the future for the same periods.
- Our professionals have experience negotiating and completing voluntary disclosures in every jurisdiction
- Our success rate for interest and penalty waivers is over 95%
Audit Defense
Unclaimed property audit activity is on the rise. Our firm has vast experience handling these audits for clients. Click here to see how we manage audits in greater detail.
Complete Compliance Outsourcing
Complete transfer of all aspects of the filing and due diligence processes. For a more comprehensive description of outsourcing services, view our Total Compliance Outsourcing Page.
Recovery of Unclaimed Property
Your company or organization may have assets owing to it that can be rightfully claimed. Through this service, we identify, quantify and ultimately recover these assets on behalf of our clients. We utilize proprietary technology that enables us to search a multi-jurisdictional database - resulting in maximum recovery of funds. For a more comprehensive description of asset recovery services, visit our Asset Recovery Page.
Policy & Procedure Development
Many companies have limited, if any, unclaimed property policies and procedures that can result in inefficiencies and the potential for overreporting. We are frequently engaged to design specific controls and processes for a particular organization's needs in this area that result in accurate reporting, enhanced personnel productivity, and direct financial benefit. These services typically include:
- Perform assessments of present internal controls
- Coordinate processes across various functional lines
- Work with department managers to manage unclaimed property early and increase compliance
- Develop business performance and reporting metrics for all departments affected by implemented processes
- Work with departments to drive policies and procedures to ensure compliance
- Conduct a post-implementation review to assess adherence to the implemented processes
- Coordinate requests from internal and external auditors
Typically driven by internal audit, Sarbanes-Oxley compliance, or some other external force - we can assist your company by creating and implementing a policy and procedure for effective unclaimed property compliance.
Other Services
Our clients benefit from a broad array of additional services that only dedicated unclaimed property professionals can deliver:
- Gift Card Consulting & Process Enhancement
- Litigation Support/Expert Witness Testimony
- General Consulting on Novel Issues