Unclaimed property might seem like just another administrative detail, but for many organizations, it represents a hidden drain on resources.

Over $50 billion in unclaimed assets remain unnoticed across the United States, buried in financial records, lost in transactions, and overlooked by businesses and individuals alike.

The challenge?

Most companies don’t have the time or internal expertise to track down these funds, leading to missed opportunities and unrealized financial gains.

At apexanalytix, we specialize in uncovering these hidden assets—not just to recover money, but to help organizations strengthen their financial health and compliance processes. We’ve seen firsthand how businesses struggle to navigate unclaimed property regulations, often unaware of just how much they could recover.

That’s why we’re excited to introduce Tracey Reid, our new Unclaimed Property Director here at apex.

With over 25 years of experience in finance and compliance, Tracey brings a deep understanding of how unclaimed property accumulates and, more importantly, how to recover it. Her mission is to help businesses like yours reclaim what’s rightfully theirs—turning overlooked assets into valuable financial wins.

We asked Tracey seven key questions to gain insights into the unclaimed property recovery process.

Question 1: Tell us a little about your background and current role.

I’m a nontraditional tax attorney—not an accountant. I hated math and never expected to go into finance, but in law school, I took a Tax 1A class, got the highest grade, and won an award. That’s when I realized tax law is about concepts, not math, which drew me in.

After earning my law degree, I pursued a master’s in taxation to build a solid foundation. Instead of joining a law firm, I was hired by an accounting firm—something I didn’t even know lawyers did. While working in state and local taxation, a client received a letter from Kentucky about unclaimed property. No one knew what it was, but I did, thanks to a single law school class.

Unclaimed property laws require businesses to turn over lost funds to the state. When I explained this, my team put me in charge. I researched, got clients into compliance, and launched my career in unclaimed property.

Coming from a non-accounting background, I saw opportunities others missed, which shaped my success in this field. If you had asked me in law school, I never would have guessed this path, but my career has taken an unexpected and rewarding journey. I’ve been in this field since 1997—which is quite impressive.

Question 2: How would you explain your job to someone who’s never heard of unclaimed property or the recovery process before?

People move often and forget to update their address with banks, employers, or utility companies. They may leave behind small balances, like a utility deposit or an unused bank account. Since mail forwarding lasts only six months, these funds can easily be lost.

Unclaimed property includes these forgotten financial obligations. Companies can’t keep the money and must hold it for a set time—usually one to five years—before turning it over to the state. Most amounts are small, like a $35 utility deposit, so people don’t always search for them.

We help companies comply with unclaimed property laws and report funds properly. Audits ensure businesses don’t hold onto money that should be reported. The states list unclaimed funds on missingmoney.com, but individuals must search for their own money.

Beyond compliance, we also help businesses recover lost funds, especially after mergers or financial changes. Our work ensures both individuals and companies reclaim what’s rightfully theirs.

Question 3: What types of organizations can benefit from an unclaimed property recovery audit?

Companies with multiple divisions and over five years in business can benefit from an unclaimed property review. As a company grows, tracking transactions becomes harder, and internal staff are often too busy to handle these audits. This is why $50 billion in unclaimed property remains uncollected.

Unclaimed property isn’t just an issue for individuals—businesses lose track of funds too, especially during mergers and acquisitions. When companies merge or shut down subsidiaries, financial records can get lost, and funds owed to them may end up with the state instead of the rightful owner.

Larger companies with frequent mergers or multiple divisions are most at risk. A professional review helps uncover lost funds, ensuring businesses reclaim what’s rightfully theirs.

Question 4: What kind of problems/challenges do unclaimed property recovery audits help solve?

We find money for companies they didn’t know was owed to them—a welcome surprise that boosts finances without disrupting operations. With a third party handling the process, internal staff stay focused on their primary work instead of tedious financial searches.

While some paperwork is needed, like proving an address for claims, we handle most of the work. Companies don’t need to incorporate this into daily operations—an annual or biannual review is enough, making it ideal to outsource.

We charge nothing upfront, so there’s no risk in letting us conduct a review. Beyond recovering funds, we identify compliance issues and help companies avoid costly state audit penalties. Ultimately, we help businesses reclaim lost assets and protect against financial risks.

Question 5: How do you ensure the security and confidentiality of sensitive financial data during the audit?

At apex, we apply the same strict safeguards to unclaimed property data as we do to all sensitive information. Our secure servers ensure only the minimum necessary data is shared with the state to process claims. Confidentiality is a priority, and we limit requests to essential details only.

Unclaimed property is public record, so we request only what’s needed to file claims, minimizing disruptions to daily operations. Most requested information, like addresses of relocated entities, is not confidential. Many unclaimed property issues arise simply because mail forwarding expires before financial correspondence arrives.

We do not request personal data. Instead, we work with a company representative, and only an officer can authorize claims with a photocopy of their state-issued ID, which is public record but shared only with the state. We also use corporate EINs, not Social Security numbers, since we don’t file claims for individuals.

With these safeguards, company representatives face little risk. We prioritize security, minimize data requests, and ensure all information remains protected.

Question 6: What advice would you give to companies that are hesitant about initiating a recovery audit?

If a recovery firm offers a free review to check for unclaimed funds, there’s no reason not to let them—it’s no-risk and no-obligation. Reviewing findings takes just minutes, and the process requires little effort.

For those worried about complexity, a quick conversation can clarify how simple it is. At Apex, we send claims in bulk batches, so company representatives only need to sign documents occasionally—typically 10-15 minutes a month.

If legitimacy is a concern, businesses can verify claims on missingmoney.com. Since each state has its own process, companies often find it easier to let experienced professionals handle filings. Any reputable firm should provide references and a track record. If a legitimate firm finds potential claims, it’s worth considering—it’s minimal effort and could result in a financial gain.

Question 7: What’s it like partnering with apexanalytix for an unclaimed property recovery audit?

apex has extensive experience handling unclaimed property claims across all jurisdictions. They streamline the process, requesting additional details only when absolutely necessary, minimizing disruptions.

When paperwork is needed, everything is organized with clear checklists. If notarization is required, apex helps find local or mobile notaries to simplify the process. Their focus is efficiency, making it seamless for clients.

The best part? Companies receive checks in the mail. Unlike state audits that result in unexpected bills, this process is a financial win. apex’s expertise ensures all paperwork is double-checked, so clients only need to sign before funds start arriving.