Cloud-based software
Our software is always up to date with the latest state requirements and reporting information. You don’t need to install or maintain anything yourself.
Multiple users
Invite up to three team members to your account with an email registration process.
Compliance resources
Find up-to-date information on the latest regulations and filing requirements for each state directly in our software. Sovos has a dedicated team of compliance specialists monitoring changes to unclaimed property law in every state. They make timely updates to apply state statutes and review all compliance documentation twice a year.
The compliance resources include:
- Codes
- Property codes
- Relationship codes
- Country codes
- NAUPA codes
- State, territory, and province codes
- Tangible codes
- Filing dates
- Address information
- Links to each state’s unclaimed property website
- Standard exemptions
- Due diligence information
- State reporting requirements, including filing instructions and coversheet information
- Negative report requirements
- Payment information
Bulk upload and bulk edit properties
Upload a lot of properties at once with our import template. If you want to edit many properties already in the software, you can also use the import feature. Use the same import file to add new properties and update existing ones.
Data validations
The properties go through a comprehensive validation process. We’ll identify missing or incorrect data so you can fix them before you start reporting.
We check for the following:
- Duplicate properties
- Missing required fields
- Missing state-specific fields
- Invalid required fields
- Field formatting, such as abbreviations and character limits
Manage properties
On the Properties page, you can add properties, track them, and change their status. Configure your own advanced filter or use any of the following quick filters to find and update what you need:
- Current, archived, or all properties
- Properties that are due
- Primary owner state
- Property code
- Status
Dormancy period calculation
Dormancy periods begin on the date of the last activity by the property owner and vary by business type, state, and property type. We’ll use this information to automatically calculate due dates for your properties.
Due diligence template and archive
When the dormancy period has passed, you must try to contact the owner of the property to inform them that you are holding their property. You can use our due diligence template to create letters to send to the property owners.
The requirements for due diligence vary by state. Some states require it if the owner has a valid address, while others require it depending on the property's value. The Compliance Resources page has all the due diligence information you need.
We’ll also automatically save all your due diligence letters on the Letter History page for future reference.
Deadline reminders
We’ll send you email reminders as peak filing seasons approach. The Dashboard also includes a timeline with important upcoming dates.
Reporting
On the Properties page, use the Due filter to check which properties are reportable next.
On the State Report page, we’ll guide you through creating state reports. Our software creates reports for all states as well as Quebec, Puerto Rico, and the U.S. Virgin Islands, including preliminary reports where required. You can submit your reports to more than 30 states directly from our software. For all states, the software creates the required documents, including cover sheets, and the NAUPA file, which you can download to self-file on the state websites or by mail.
Sovos has all the required state information you need for proper reporting. The Compliance Resources page includes all the necessary links and instructions for self-filing.
Escheatment information
If you can’t reach the owner, you must hand the property to the state. The Compliance Resources page contains all payment methods accepted by the individual states for this purpose.
Reporting history
On the Properties page, you can keep track of your reporting history. Use the Archived filter to see which properties were reported and when. If you get audited, each property has a detailed Audit trail that shows when it was mailed and reported. We also automatically save all your state reports on the Report History page for future reference.
If you have historical data from another system, you can import it as archived to maintain a single source of truth in our software.