Escheatment is one area commonly dealt with by those of us providing unclaimed property recovery services. The process can prove particularly beastly for owners of stock accounts. Fortunately, this beast can be tamed when individuals and businesses take certain preventative steps.
The first of these steps is actually something you do on a daily basis with friends and family – communicating. In the case of stock accounts, you’ll want to communicate regularly with your broker. Not every day, mind you. You just have to demonstrate a certain level of personal contact. This can be anything from withdrawing funds to logging into your online account. And be sure to keep records of all your interactions, as they may provide supporting evidence should your account ever be designated inactive.
The second step actually puts money in your pocket – cash your dividend checks. By redeeming these negotiable instruments at the local financial institution, you send out a clear signal of personal activity. And besides, dividend checks are valid for only six months in most states. Exceeding this time limit will force you to request a duplicate check when redemption fever finally takes hold. Thus, you have two excellent reasons for cashing in. Obviously, check redemption doesn’t apply to individuals enrolled in a dividend reinvestment plan, or a direct deposit of dividends.
If you or your business entity is subject to escheatment risk, The Argent Firm can assist you with a diversity of escheatment support services. Renowned for its expertise in escheatment services, Argent has the resources, expertise, and experience to investigate, negotiate, and resolve all unclaimed property matters with unsurpassed speed and precision. Whether you’re an individual seeking to recover unclaimed property, a professional requiring escheatment support services, or a business owner or manager in need of assistance to satisfy compliance regulations and reduce exposure, Argent can help.
For more information and answers to all of your unclaimed property questions, contact Argent at (800) 930-5933 or firstname.lastname@example.org. Our consultants will be happy to assist you any way we can.