Abandoned and unclaimed property

Audit defense, voluntary disclosure agreements, and compliance for corporate holders of unclaimed property


Corporate Unclaimed Property Solutions

Unclaimed property has been the hidden liability in your corporate books and records. As a corporate holder, you have responsibilities under the laws of all U.S. states and other jurisdictions to report unclaimed property.

If you do not comply with state escheat laws, you may be subject to audits. Unclaimed property audits are often conducted on a multi-state basis by contingency fee auditors and can last years.

Audit Defense
Voluntary Disclosure Agreements
Annual Compliance
Corporate Holders

Introduction to Unclaimed Property

If you are new to unclaimed property, it is probably because your company received an audit letter from a state. Or perhaps you heard an audit horror story and are looking to avoid the same fate.

But first, you need to know the basics of escheatment. Yes, we have three names for the same thing – unclaimed property, abandoned property, and escheat. Sometimes, you’ll even see it abbreviated as AUP (abandoned and unclaimed property) or UP (unclaimed property).

It’s all the same process, so let’s get you caught up on the basics of unclaimed property.

  • Historical basis of escheat
  • Unique Terminology
  • Annual Compliance Basics
  • Voluntary Disclosure Basics
  • Claiming Unclaimed Property

Remember, unclaimed property is not a tax and traditional notions of nexus do not apply. Instead, property rights attach and you may be subject to reporting in states that you would otherwise not have any connection to.

Horror Stories

Unclaimed Property Litigation

Read about the cases that have brought us to this point in unclaimed property audit defense and compliance. Unfortunately, most companies involved will call these the horror stories of unclaimed property.

When, Not If

Proactively Manage Unclaimed Property Liabilities

DeCarrera Law has three goals for your company:

  1. To reduce the risk of an unclaimed property audit.
  2. To minimize the impact of an audit when they do happen.
  3. To reduce the potential liability from an audit.

Now is time to proactively manage your unclaimed property liabilities and responsibilities with a comprehensive compliance program.

Unclaimed Property Owners

Instructions for unclaimed property owners and claimants that receive due diligence letters from DeCarrera Law on behalf of one of our client companies.