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WebMar 16, 2024 · Hiring an outside vendor to handle unclaimed property compliance can reduce costs and reporting errors. Baker Tilly’s Cathleen Bucholtz and Michelle Moloian break down four factors—availability of resources, expertise, cost, and buyer stress—that can help companies decide whether to outsource the task or assign it to their tax department. WebEvery state has an unclaimed property program. The purpose of these programs is to return unclaimed property to rightful owners. Unclaimed property includes everything from jewelry, stock certificates, coin collections and cash. Property is considered unclaimed when there is a lack of activity generated by the rightful owner of the property. WebNov 1, 2024 · Outsourcing: The Benefits . There are many benefits when outsourcing the unclaimed property function to a UP Partner, as follows: A UP Partner is fulltime … carboxymethylcellulose safe for cats