QUESTIONS? 844.937.3268



Originally Published: August 2011

Don’t Let Lack of Knowledge Cost You: U/P Compliance for A/R

by Karen Anderson, Sr. Vice President – Compliance
Unclaimed Property Recovery and Reporting, LLC (UPRR)

In the difficult economic climate, state governments have intensified escheatment enforcement efforts costing some businesses millions of dollars in liability including non-compliance penalties. These enforcement efforts include increasing the number of audits, hiring more third-party auditors, expanding the types of transactions reviewed and scrutinizing annual reports for potential under-reporting. Accounts receivable items are often the target of review and scrutiny including returned merchandise credits, customer overpayments, unused refunds, and unapplied cash.

Click here for full article