Connecting businesses that are holding unclaimed assets (Holders) with businesses that are rightful owners of these assets (Owners)
HolderExchange
Benefits
Holder
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Reduce unclaimed property and escheatment compliance risk by reuniting property with business owners before escheatment is required.
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Free to join the HolderExchange and contribute pre-escheat unclaimed property data.
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Earn a portion of our contingency fee to offset costs related to contributing properties to the HolderExchange.
Owner
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Discover dormant and unclaimed property in months instead of years by leveraging the latest machine learning and artificial intelligence technologies.
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Technology-driven claims process to dramatically reduce claim processing times from months and years to weeks.
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Unleash the opportunity to offset unclaimed property escheatment compliance costs by maximizing property recovery.
How It Works
Businesses can serve as both Holders and Owners in the HolderExchange. Escheatify uses machine learning algorithms to facilitate matching and reconciliation. Owners are thoroughly vetted to ensure they are the right claimant for the property. Reconciliation happens prior to state-mandated due diligence periods.
Did You Know
Unclaimed Property Remitted Annually
In fiscal 2022 the National Association of Unclaimed Property Administrators (NAUPA) reported $4B returned to rightful owners. Using a historical 50% return rate, $8B was remitted in fiscal 2022. Based on this information, annual remittances have increased by 33% from fiscal 2019 to fiscal 2022. A sampling of unclaimed property data showed that up to 40% of remittances belong to businesses representing $3.2B in fiscal 2022.
Case Studies
Financial Services
Banking and investment accounts, stocks, insurance settlements, and premium overpayments can all be seamlessly reunited between members of the HolderExchange.
Vendor Relationships
During the course of regular B2B transactions, businesses can have outstanding checks, credits for goods/services, refunds, and miscellaneous items owed to each other. The HolderExchange allows businesses to regularly reconcile these items and prevent them from becoming unclaimed property.
Healthcare
The HolderExchange allows healthcare companies and other businesses they regularly transact with (like pharmaceutical companies) to true up debits and credits to ensure these properties do not become dormant.
Oil & Gas
Refiners, land owners, and subcontractors are able to better reconcile accounts and prevent costly penalties and interest from late unclaimed property reports.
Data Security
As custodians of your data, we adopt the latest security best practices to keep your data safe. Browser connections are protected by Secure Sockets Layer (SSL) with 128-bit encryption. Our applications and data are stored with reputable cloud infrastructure providers that are Systems and Organization Controls (SOC) 2 certified. All data is encrypted in transport and storage and company resources are protected by multi-factor authentication. Resources are regularly backed up and can be recovered in case of disaster. All company equipment has the latest software versions with critical patches, including anti-virus and anti-malware software.
Fraud
We minimize fraudulent claims by thoroughly vetting companies before allowing claims to be made. The onboarding process includes reviewing redacted past federal Internal Revenue Service (IRS) tax filing information (Form W-9, Federal Employer ID Number (FEIN), Form 851 for subsidiaries) and validating company status and filing history with state agencies. Joining the HolderExchange requires authorization from a signing officer of the company.
Join Our Growing Network
Join the growing number of businesses that are using the Escheatify HolderExchange to reconcile their pre-escheat unclaimed property.