Unclaimed Property Services

Each year, thousands of companies across the U.S. experience audits to determine whether they are in compliance with state laws regarding unclaimed property – defined as property (gift cards, uncashed payroll checks, customer credits, bank accounts, life insurance proceeds, shares and others) that has not been claimed by its owner for a specific period of time.

Unclaimed Property Services (PDF)

Failure to comply with these laws can have a direct effect on financial performance because of the substantial penalties and interest charges that may be assessed following an audit.

KPMG’s Unclaimed Property professionals assist organizations with understanding their compliance obligations, analyzing their compliance status and related risk issues, reducing potential liabilities, identifying process improvement strategies and ongoing compliance.

Our goal is to help organizations proactively manage their unclaimed property reporting responsibilities by cutting through the complexities of the state unclaimed property laws.

Contact:

Michelle Andre

Principal

mandre@kpmg.com

703-286-6049

© 2013 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.