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The Compliance Program:

The Compliance Program, which we administer, represents an initiative by state unclaimed property programs to greatly simplify the reporting process, encouraging companies that have not previously reported (or reported comprehensively) to achieve compliance.  The Unclaimed Property Clearinghouse takes in all types of records and prepares unclaimed property reports conforming to the respective requirements of each state.  Following review by the company, the Unclaimed Property Clearinghouse collects and reconciles the unclaimed property.  Property is then disbursed, and the state specified reports are delivered securely.

Preparing a company’s initial reports of abandoned property would be at no charge to the company.  We can also produce no-cost supplemental reports where a company previously failed to report all past-due property types, or report property to all states.

The states additionally promote compliance through granting relief from interest and penalties for late reporting.  Virtually all of the states contracting with the Unclaimed Property Clearinghouse will waive interest and penalties that might otherwise be due from companies that are late in filing, but agree to voluntarily come into compliance.

There are many benefits to compliance.  More than 18,000 corporate entities have worked with us to achieve compliance since our establishment in 1984.

For more information about the Compliance Program contact :

Janet D’Agostino
Email: Janet.dagostino@avenuinsights.com