Spring is the perfect time to reassess your unclaimed property reporting process

Spring is in the air, and for many organizations, it’s also the season for a long‑overdue spring cleaning. Closets and garages may get the attention at home, but unclaimed property processes often get overlooked until fall deadlines start looming. 

By the time summer arrives, most companies are already knee-deep in data pulls, reconciliations, and due diligence mailings, leaving little room to step back and assess whether their reporting process is actually working as intended. That’s exactly why spring is the ideal time to reassess your unclaimed property reporting process: before weeds take root and small issues turn into bigger compliance headaches. 

Spring offers a rare window to clear out inefficiencies, identify gaps, and plant the seeds for a smoother fall reporting season. 

Why timing matters: Summer is when preparation begins 

Although unclaimed property deadlines for most states land in the fall reporting cycle, the heavy lifting starts much earlier. By summer, companies are usually already: 

• Extracting data from multiple internal systems 
• Applying dormancy logic across property types and states 
• Preparing and mailing due diligence notices 
• Reconciling reportable balances to the general ledger 
• Coordinating internal and external reviews 

Once this phase begins, teams are focused on execution, not pulling weeds or redesigning the garden. Spring is often the last opportunity to step back, evaluate what’s working (and what isn’t), and make thoughtful adjustments before timelines tighten. 

A spring review helps surface issues early 

Organizations that take time in the spring to reassess their unclaimed property processes often uncover recurring issues that are difficult, or even impossible, to fully address once summer timelines pick up speed. In practice, the same themes tend to pop up year after year when teams finally pause to take a fresh look. 

From Kodiak’s experience working across industries, we’ve seen that many of these challenges stem from the complexity and lack of uniformity across state unclaimed property laws. Differing dormancy periods, due diligence requirements, reporting formats, and enforcement approaches make it difficult to maintain a consistent, compliant process, especially as systems evolve and responsibilities shift. 

Left unattended, these small cracks can widen over time. Spring is when those issues are most visible and when it’s easiest to clean them up before they spread. 

10 common unclaimed property reporting mistakes 

A spring review often surfaces familiar problems, including: 

1. Applying incorrect dormancy periods or NAUPA (National Association of Unclaimed Property Administrators) codes. Using the wrong dormancy periods by state or property type, or applying a one‑size‑fits‑all approach, can result in under‑ or over‑reporting. 
   
   
2. Incomplete or inaccurate owner information. Missing names or outdated addresses limit the effectiveness of due diligence and increase audit and claim risk. 
   
   
3. Failure to perform proper due diligence. Late mailings, missed state‑specific requirements, or unmet thresholds remain a common and costly gap. 
   
   
4. Improper aggregation of owner balances. Aggregating balances incorrectly, especially above state thresholds, can trigger state follow‑up. 
   
   
5. Over-filing properties that qualify for filing exemptions. Failure to account for state filing exemptions can lead to more money going out the door than is required by the states. 
   
   
6. Losing data during system conversions or M&A activity. System changes and acquisitions often cause owner details to fall through the cracks if not addressed early. 
   
   
7. Assuming escheat responsibility without verification. Relying on third parties without clearly documented responsibility can leave companies exposed. 
   
   
8. Insufficient reconciliation to the general ledger. Weak reconciliation increases the risk of missed or duplicated reporting. 
   

Why spring is the best time to fix these issues 

Most reporting mistakes aren’t caused by negligence. They’re usually the result of limited time, evolving systems, or unclear ownership. Spring provides breathing room to: 

• Review prior filings without deadline pressure 
• Address documentation or policy gaps 
• Align stakeholders across finance, legal, and compliance departments 
• Evaluate whether existing tools and processes are still pulling their weight 

Companies that wait until summer often find themselves working around problems rather than fixing them. 

How Kodiak helps companies get (and stay) on track 

Kodiak helps organizations at every stage of unclaimed property compliance, from tidying up year‑over‑year filings to tackling historical exposure or preparing for audits and VDAs. 

Our support spans the full compliance life cycle, including: 

• Unclaimed property reporting and process support 
• Due diligence coordination and optimization 
• Audit defense and voluntary disclosure assistance 
• Technology solutions such as Kodiak Gateway and Unite, designed to streamline workflows, improve data visibility, and eliminate unnecessary manual work 

Most importantly, we help companies build a repeatable and defensible process—so what you put in the ground this spring continues to pay off year after year. 

Spring is about fresh starts. If unclaimed property compliance feels chaotic every fall, now is the time to clean house, rethink your approach, and set yourself up for a smoother season ahead. 

Kodiak is here to help organizations clear out the clutter, get back on track, and move forward with confidence before the summer rush begins. Reach out to our unclaimed property experts today to get started.