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Avoid Interest, Fines, and Penalties with WolfePak’s Escheat (Unclaimed Property) Process…..

How are you currently handling the responsibility and complexity of tracking and distributing unclaimed property to your oil & gas owners? Using spreadsheets or paying a 3^rd party service to do it for you? The time and expense of undoing any mistakes is far costlier than getting it right the first time. With WolfePak’s escheat (unclaimed property) feature, the process is streamlined, retrieving data that already exists within the system, and walking you step by step until the process is complete.

• Based on the each owner’s last known address (state)
• Unknown address automatically go to your business’ state of incorporation
• Automatically selects from suspense
• Listing by due date – lists out the sequence of what needs to be done next
• Due Diligence Letters by Date – print Due Diligence Letters on/before the letter’s due date
• Electronic File Listing for State – for all 50 states in the U.S.
• Respects the different rules for the different states
• Respects cut-off dates, abandonment periods, etc.
• The system takes into consideration “current pay” states having rules that apply to all subsequent payments due
• System automatically excludes owners that have been contacted and starts dormancy period all over
• Ability to manually exclude owners if needed

For Future release: unclaimed property from accounts payable and payroll

 Web References

National Association of Unclaimed Property Administrators (NAUPA) http://www.naupa.org/ or http://www.unclaimed.org/

Unclaimed Property Professionals Organization (UPPO) http://www.uppo.org