Boomerang Blog

Risk Considerations For Recovery

Date30 Dec 2025

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Risks of Claiming For a corporation, the risk is not just about the paperwork; it is about “poking the bear.” While recovering assets (like uncashed vendor checks or tax refunds) can improve the bottom line, it often signals to state regulators that the company is aware of unclaimed property laws but may not be fully compliant in its own reporting. The primary risks for a corporation fall into three categories: Audit Exposure, Operational Drain, and Successor Liability. 1. The “Audit Trigger” If Not Already In Compliance The single biggest risk of a corporation claiming its own property is that it...

Unclaimed Property Recovery Checklist

Date03 Oct 2025

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This checklist is designed to help your company determine if outsourcing the recovery of unclaimed property is the right strategic decision. By answering the following questions, you can assess your current situation, identify potential challenges, and understand the benefits that an outsourced recovery firm, like Boomerang, can offer. Company Operations and History Do you operate in multiple U.S. states or territories? Yes No Does your company have a long operating history (e.g., 10+ years)? Yes No Has your company been involved in mergers, acquisitions, or divestitures? Yes No Do you have numerous subsidiaries or “doing business as” (DBA) names? Yes...

Don’t Leave Your Company’s Money On The Table

Date04 Jul 2025

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Is your company leaving Its money on the table? In today’s intricate corporate world, managing unclaimed property—like old payroll checks, vendor payments, or customer credits—is a significant challenge. With each U.S. state having its own unique and ever-changing laws, businesses face a complex compliance burden that can lead to fines and missed opportunities. Many companies struggle with the time, personnel, and specialized knowledge required to effectively track and recover these assets in-house. The Recovery Maze: Why Companies Struggle While states hold billions, recovering your own company’s escheated property is fraught with challenges: Varying State Laws: Each state has different rules...

Outsourcing the Recovery of Your Unclaimed Property

Date04 Sep 2024

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Benefits of Outsourcing Asset Recovery Unclaimed property—such as forgotten bank accounts, uncashed checks, refunds or abandoned safe deposit boxes—poses challenges for businesses. Outsourcing the recovery process can be a strategic decision, and here’s why ROI matters: Cost Efficiency: Outsourcing allows companies to tap into specialized expertise without maintaining an in-house team and investing in requisite technologies and data. The cost of hiring, training, and managing staff is often higher than contingent outsourcing fees which are proportional to the value of the assets recovered, ensuring a win-win for everyone. Focus on Core Competencies: By outsourcing, organizations free up internal resources to...

Winning the Name Game in Asset Recovery

Date29 Oct 2023

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The purpose of any corporate asset recovery effort is to locate and retrieve all unclaimed property that is associated with a given company’s name. For that reason, a successful asset recovery might just be the ultimate answer for the age-old question, “What’s in a name?” But sometimes the unique characteristics of a company’s name can create a challenge when attempting to locate its assets through conventional approaches. Sometimes a name can get in its own way. Any corporate entity with a “complex” name commonly prone to spelling anomalies is especially at risk of having difficult-to-locate unclaimed property. Consider for example...

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