We offer comprehensive consulting services for unclaimed property challenges, including audit and disclosure support, custom policy development, penalty reduction strategies, merger due diligence, legislative monitoring, and ongoing assistance for client initiatives.
Adapting to legislative shifts, administrative reinterpretations, and enforcement actions demands a proactive compliance strategy. H3 offers cutting-edge compliance services, harnessing advanced technology and automation. Our services encompass data collection, eligibility analysis, due diligence production, tracking, state report generation, and filing. Our electronic due diligence response portal enhances response rates and streamlines compliance. Clients benefit from dashboards, visualizations, and custom reports, delivering crucial insights into their compliance efforts.
Many companies have unclaimed property owed to them by states, which can represent significant funds that can be incorporated into income promptly. This can transform accounting and tax departments from cost centers into profit centers. We possess the resources and expertise to simplify the complex process of proving entitlement, helping our clients maximize their recoveries.
Three-Step Asset Recovery
Business-to-business transactions are often mishandled and left unaccounted. Our three-step business claims recovery process is meticulously designed to guarantee a risk-free experience for your business workflow and financial bottom line.
H3 database business license and address Search
Payments are located and presented in the Payment Discovery Report
Discovery Zoom Meeting
Business agreement and notary
Claims submission through the H3 Claims platform
Appeals and hearing (If necessary)
Weekly touchpoint until claim is recovered
Claim approval and payment check delivery
Risk Free - H3 will not be compensated unless payment is successfully recovered
Asset Recovery Numbers
Reimbursements recovered for mishandled claims
Average reimbursement recovered per client
Unclaimed Property FAQ
What is unclaimed property?
Unclaimed property is tangible and/or intangible property that has not been claimed by an “Owner” for a specified period of time (i.e. checks, credits, gift cards, deposits, virtual currency).
Who is considered the “Owner” of property that has not been claimed?
An “Owner” is the recipient (i.e. vendor, employee, customer etc.) of the property
What is escheatment?
Escheatment is the process of reporting unclaimed property to a state jurisdiction.
Is unclaimed property a tax?
Unclaimed property is not a tax.
What happens if a state jurisdiction is holding unclaimed property payable to our company?
If a state jurisdiction is holding unclaimed property, a company can submit a refund claim with the state jurisdiction(s) requesting a refund and recover the property.
Can my company ignore an unclaimed property audit notice or state notice?
Even if a company is not incorporated in the state(s) listed in the Notice, has no business in the state(s), has a filing history in the state, and/or has completed a VDA/audit in the state, unclaimed property notices should never be ignored.