Dallas, Texas – Ryan, a leading global tax services firm with the largest indirect and property tax practices in North America, today announced a new Abandoned and Unclaimed Property (AUP) Search and Location practice. This new practice will deliver customized support to companies across all industries to help reunite lost shareholders and dormant account owners with their rightful assets, thereby reducing escheatment liabilities that corporations are required to report to the state when the assets become dormant.
By reducing overall escheatment liability, Ryan’s Search and Location practice will help clients reduce the considerable time and expense associated with managing large volumes of unclaimed property. And by reuniting assets with dormant account owners, these clients will gain customer goodwill while reducing the opportunity for fraud.
Two critical components of Ryan’s new Search and Location practice are Pre-Escheat Asset Recovery and Corporate Action Asset Recovery. Ryan’s Pre-Escheat Asset Recovery (PEAR) program uses state-of-the-art technology to analyze and improve the quality of client data. With access to a multitude of public and proprietary data sources, Ryan’s PEAR program identifies current contact information for dormant account owners, including deceased account owners and locating next of kin. In addition, Ryan’s customized outreach program combines innovative mail outreach and call center support to reunite dormant account holders with their assets.
Ryan’s Corporate Action Asset Recovery (CAAR) program addresses potential unclaimed property liabilities stemming from a mandatory corporate action such as a merger and acquisition, where up to 20% of registered shareholders may have failed to exchange their shares. Ryan’s Search and Location team deploys proven methodologies to data mine, search, locate, and assist claimants in recovering their dormant assets prior to escheatment, thus mitigating client risk while protecting profitability.
“We have built a comprehensive end-to-end AUP solution, from software applications for managing compliance to asset recovery services that improve profitability and cash flow,” said Mark A. Paolillo, Ryan Principal and Abandoned and Unclaimed Property Practice Leader. “Our new Search and Location practice extends our integrated offering to provide additional client value and results.”
Ryan’s Abandoned and Unclaimed Property practice is the largest of its kind in the United States. Please click here for more information.
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 a 10-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 4,100 professionals and associates serves over 21,000 clients in more than 60 countries, including many of the world’s most prominent Global 5000 companies. More information about Ryan can be found at ryan.com. “Ryan” and “Firm” refer to the global organizational network and may refer to one or more of the member firms of Ryan International, each of which is a separate legal entity.
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