Boomerang Blog

For decades, unclaimed property compliance has been the silent administrative burden of thecorporate world. Traditionally, companies relied heavily on paper checks to fulfill obligations tovendors, employees, and shareholders. When those checks went uncashed, they inevitablyaged, eventually becoming reportable unclaimed property. However, as the financial landscapeshifts aggressively toward Automated Clearing House (ACH) transfers and digital paymentecosystems, the nature of this compliance is undergoing a fundamental transformation. The Erosion of the “Stale-Dated Check” The primary driver of unclaimed property in most organizations is the uncashed payroll oraccounts payable check. A paper check is an instrument that requires physical action—delivery,deposit, and processing. If... Read More →

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... Read More →

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... Read More →