Forum Discussion
run100
Jul 02, 2017Explorer
The company the crate belongs to is probably not the one who tossed it on the side of the road. I agree, a simple phone call to the company should quickly answer what to do with it. They may even suggest a location to drop it off - possibly a store you normally visit anyway.
This makes me think about the amount of work our organization goes through with Unclaimed Property - uncashed checks we've issued. It's not our fault the payee's didn't cash the checks, but still we send them a letter asking if we should reissue the check (law requires we send written notice of the outstanding check). If they say "yes," we void and reissue. Many times, the reissued check isn't cashed either.
But, it doesn't end there, because after a dormancy period, we're required to gather all the information on the outstanding checks into a specific file format and send the file and the money to the state. To top it off, now we're being forced to use a 3rd party to submit the property and it could cost us over $1,000 to escheat unclaimed property to the state. All because the owners won't cash the stupid check. Sometimes doing the right thing is expensive!
This makes me think about the amount of work our organization goes through with Unclaimed Property - uncashed checks we've issued. It's not our fault the payee's didn't cash the checks, but still we send them a letter asking if we should reissue the check (law requires we send written notice of the outstanding check). If they say "yes," we void and reissue. Many times, the reissued check isn't cashed either.
But, it doesn't end there, because after a dormancy period, we're required to gather all the information on the outstanding checks into a specific file format and send the file and the money to the state. To top it off, now we're being forced to use a 3rd party to submit the property and it could cost us over $1,000 to escheat unclaimed property to the state. All because the owners won't cash the stupid check. Sometimes doing the right thing is expensive!
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