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.

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:

Dennis Prestia

Principal

212-872-6891

dprestia@kpmg.com

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