Unclaimed property compliance is a regulatory obligation that affects virtually every business in North America, yet it remains one of the most overlooked and under-resourced areas of compliance. As companies face increasing scrutiny from state governments and a growing risk of unclaimed property audits, many are reevaluating how they manage this complex process—and increasingly, they’re turning to technology for support.
One such solution gaining traction is AUPTC (Abandoned & Unclaimed Property Total Compliance), an unclaimed property software platform developed by DuCharme, McMillen, & Associates, Inc. (DMA). Designed to streamline and automate the often-cumbersome tasks associated with unclaimed property compliance, AUPTC is changing how organizations think about risk, reporting, and efficiency.
The Unclaimed Property Compliance Burden: More Than Just Filing Reports
Unclaimed property compliance involves more than just filing a report once a year with each state. Businesses must track a wide range of business transactions —from uncashed checks, unused customer credits to account balances—and ensure they are properly managed through state-specific dormancy periods, due diligence outreach, and state reporting.
The challenge? These rules vary by state, change frequently, and require timely, documented communication with property owners. For many companies, especially those operating across multiple jurisdictions, this creates a significant administrative burden. Non-compliance can lead to penalties, or even multi-state audits.
Traditionally, companies have relied on spreadsheets, manual record-keeping, and general-purpose tools to manage these requirements. But these approaches are prone to errors and inefficiencies, particularly when volumes grow or state laws shift. As a result, organizations are seeking more reliable and scalable solutions.
AUPTC: A System Designed for Simplicity and Accuracy
DMA’s AUPTC software offers a centralized platform specifically built to manage unclaimed property compliance. It follows a clear, four-step workflow—property intake, owner outreach, check reissuance, and final reporting—each of which is automated and tracked within the system.
Rather than juggling multiple spreadsheets or systems, users work within a single interface that consolidates all unclaimed property activities, deadlines, and documentation. This approach not only saves time but also ensures compliance with current regulations.
Key features of AUPTC include:
- Automated Due Diligence: The system generates and tracks formal due diligence letters based on customizable templates, aligned with state-specific requirements. Emails can be sent automatically from AUPTC to unclaimed property owners, offering an efficient method of locating owners.
- Electronic Owner Response: DMA’s Owner Redemption Portal allows individuals to securely request reissuance of their property, significantly increasing reunification rates.
- Real-Time Notifications: Built-in alerts help users stay on top of upcoming compliance deadlines, reducing the risk of missed filings.
- Streamlined Reporting: AUPTC allows for one-click generation and filing of state-specific reports, complete with additional filing detail and audit-ready documentation.
Full-Service or Self-Directed: Flexibility for Any Team
A key benefit of AUPTC is its adaptability. Some companies prefer to integrate the software into their internal compliance workflows, while others opt to have DMA’s team of unclaimed property experts manage the process using AUPTC on their behalf. In both cases, the result is a simplified, more transparent compliance operation.
Clients who have transitioned from manual systems report time savings and increased confidence in their compliance posture. The software’s logic is grounded in DMA’s decades of regulatory expertise, which means users can trust that filings are aligned with the latest rules and standards.
How AUPTC Compares to Other Tools on the Market
While there are other compliance platforms available, AUPTC distinguishes itself through its speed, scalability, and ease of use. Users note that it handles larger volumes of data without compromising performance, and that its customizable templates and intuitive dashboards offer a level of flexibility not commonly found in competing tools.
Where other systems may require workarounds or additional tools to complete specific tasks, AUPTC integrates everything into one cohesive workflow. This not only reduces administrative friction but also helps teams focus on higher-value work.
Looking Ahead: Evolving Compliance Needs Demand Better Tools
As state enforcement becomes more aggressive and audit activity increases, companies can no longer afford to take a reactive or fragmented approach to unclaimed property compliance. Technology like AUPTC offers a way forward—one that combines automation, oversight, and adaptability in a single platform.
Whether handled in-house or through a trusted partner, unclaimed property compliance doesn’t have to be a burden. With the right tools, it becomes just another manageable part of financial operations—and AUPTC is leading the way in making that a reality.
Ready to Simplify Your Unclaimed Property Compliance?
Schedule a demo of AUPTC today and see firsthand how our software can automate tasks, reduce risks, and streamline your workflow. Take the next step toward effortless compliance.
| This website content should be used for general informational purposes only, and not as a substitute for consultation with professional tax, legal, or other competent advisors. Before making any decision or taking any action based upon information contained on this website, you should consult with a DMA professional. |