Unclaimed Property Services
Unclaimed property (also known as Escheat) statutes require companies to remit their customers’ or former employees’ property to the respective state controller’s office when certain assets go unclaimed and there has been no activity for a period of time (the dormancy period), which is generally three years. Common types of property include uncashed checks, wages, gift certificates, gift cards, and insurance benefits among other types of assets.
Fandl’s Unclaimed Property Services assist companies in navigating unclaimed property statutes and handles all aspects of the outsource engagement, including data management, owner search, owner redemption, state reporting, escheatment (to include an imprest account option), audits, appeals and management reporting.
Our secure on-line data warehouse gives client access to all of their unclaimed property documents including filings, notices, and compliance calendars.