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Annual Compliance


True Partners Consulting’s Unclaimed Property Advisory Services Team has extensive experience and expertise in all facets of the complex and evolving area known as unclaimed property (UP). Of all the UP services that our team provides, outsourcing of the annual
compliance function is the most essential to assist our clients in maintaining good standing with their UP reporting responsibilities in all jurisdictions.

The Burden of UP Compliance

Our team understands the often daunting responsibility of annual UP compliance. We realize the rules and regulations in this ever-evolving area are inconsistent, complex, constantly changing, and sometimes appear ambiguous. Furthermore, in contrast to other state and local
compliance areas, knowledgeable resources are scarce. Through many years of experience in working with our clients, we understand these challenges and have established economical methods for identifying and processing UP.

Outsourcing of Annual Compliance

Navigating the uncertain terrain of UP compliance in more than 50 jurisdictions can be difficult and treacherous. Over and under reporting are common errors that plague many holders without resources dedicated to UP compliance. Our team utilizes our experience with hundreds
of holders to fulfill our clients’ annual UP compliance function efficiently and effectively. By employing our SSAE 16 Type 2 audited UP reporting processes, we constantly serve as your advocate by identifying and reducing risk and exposure. Our team’s primary focus is to deliver
best practices to our clients, maximize savings, and mitigate risk with proven expertise and commitment.

Annual Compliance Services

Our annual compliance process is a time-tested approach that provides the following advantages:

  • Identification and application of exemptions and deductions
  • Full service due diligence letter notification process
  • Preparation of paper and electronic annual reports
  • Maintenance of reporting history and database of property due in the future
  • Receipt and tracking of state notices, including interaction with state administrators in the event of a report related question
  • Reconciliation of the UP database

The Benefits of Outsourcing

In a perfect world you could do it all, including UP compliance. However, the reality is that a team of specialized professionals, working as your advocate, can help you achieve greater results
with fewer resources. Here are some reasons why:

  • Best Practices
  • Consistent Quality
  • Technical Expertise
  • Accurate Reporting
  • Credibility with Jurisdictions