Press Room

Ryan Launches Abandoned and Unclaimed Property Asset Recovery Service

Press Release Nov 01, 2013

Dallas, Texas – Ryan, a leading global tax services firm with the largest indirect and property tax practices in North America, today announced the launch of a new Abandoned and Unclaimed Property (AUP) Asset Recovery Service to provide clients additional value, improved profitability, and greater cash flow. The new service will expand the capabilities of one of the largest Abandoned and Unclaimed Property practices in the United States, while helping companies overcome the significant challenges of recovering AUP assets.

Most companies focus on the AUP requirement to report and remit property in the company’s possession belonging to another and often overlook significant assets held by states, counties, local municipalities, state and federal court systems, licensing and permitting agencies, and others. Companies that are focusing on identifying property and claiming it back are challenged by the complexity of the process. Although all jurisdictions maintain websites to search for AUP held on behalf of owners, not all transactions are statutorily subject to reporting. Consequently, to reclaim unreported assets, especially in cases where the jurisdiction does not require such reporting by holders of AUP, companies must subscribe to every state, local, and federal jurisdiction’s database, as well as hundreds of other sources to locate their property.

Ryan’s new AUP Asset Recovery Service will provide a single-source solution for asset recovery, which includes identification of the property being held and by whom, preparation of the claim documentation, filing of the claims, and working with the jurisdictions to ensure the return of client assets. The Firm will leverage a comprehensive, proprietary database of more than four-million records of assets that are not available online or through state searches to identify and capture lost client assets.

“We will continue to meet the growing client demand for additional abandoned and unclaimed property services and support,” said Mark A. Paolillo, Ryan Principal and Abandoned and Unclaimed Property Practice Leader. “Our new Asset Recovery Service will deliver tremendous value and results for our premier portfolio of abandoned and unclaimed property clients.”

About Ryan

Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes. With global headquarters in Dallas, Texas, the Firm provides an integrated suite of federal, state, local, and international tax services on a multijurisdictional basis, including tax recovery, consulting, advocacy, compliance, and technology services. Ryan is an 11-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan’s multidisciplinary team of more than 4,800 professionals and associates serves over 30,000 clients in more than 80 countries, including many of the world’s most prominent Global 5000 companies. More information about Ryan can be found at ryan.com.

MEDIA CONTACT

Melodie Elliott
Director, Content & Communications Marketing
Ryan
972.934.0022
melodie.elliott@ryan.com