Escheatment Specialist (Jacksonville)
Corps Team, Jacksonville, FL, United States
Our client, a diversified financial services company providing banking and investing services, is seeking an Escheatment Specialist for a 7+ month contract role located in Jacksonville, FL. This role is fully onsite.
Overview
Perform duties related to daily and month-end reconciliation of unclaimed general ledger accounts, managing dormant accounts and unclaimed property filings, supporting account status updates, handling IRS backup withholding processes, and managing state and federal withholding payments for IRA withdrawals. This role is responsible for accurate processing of 1099 corrections and the administration of Nonresident Alien (NRA) and Resident Alien (RA) accounts. This role ensures compliance with IRS regulations, supports regulatory reporting accuracy, and partners with internal teams to resolve tax-related issues. Additionally, this role oversees and distributes tasks within the team's queues. While working under limited supervision, this job supports other banking professionals to ensure that critical tasks are completed on time.
Duties
Communicates and corresponds with account owners regarding questions regarding unclaimed property laws and regulations, while ensuring compliance with said laws and regulations.
Processes state and federal withholding and backup withholding payments in compliance with IRS and state regulations.
Reconciles unclaimed property general ledgers and internal accounts to ensure accuracy of all financial records and identifies and resolves discrepancies.
Identify unclaimed property (e.g., dormant accounts, outstanding checks, credit balances).
Perform account research to determine owner eligibility and dormancy status.
Conduct due diligence outreach to property owners as required by law.
Prepare unclaimed property reports to state agencies accurately and on time.
Provides solutions to client, branch, and banking inquiries, and escalates issues when necessary.
Research, review, and process 1099 corrections (e.g., name/TIN changes, amount adjustments, reclassifications).
Ensure timely and accurate submission of corrected forms in compliance with IRS deadlines and requirements.
Investigate discrepancies related to 1099 reporting and coordinate resolutions with internal business partners.
Maintain documentation and audit trails supporting all corrections and adjustments.
Apply appropriate withholding rates and exemptions based on residency status and tax treaties.
Monitor account changes that may impact tax reporting or withholding requirements.
Qualifications
2+ years of relevant experience in unclaimed property, tax operations, accounting, banking, or compliance related roles.
Unclaimed Property Compliance & Regulatory knowledge
State Escheatment Knowledge: Working knowledge of state escheatment laws, reporting timelines, due diligence requirements, and remittance processes.
Audit & Documentation Experience: Internal financial and reporting systems.
Strong Excel Skills - Reporting and data analysis, including functions such as VLOOKUP.
Nice to have - SOVOS (unclaimed property reporting and research) tax and regulatory compliance software platform.
Pay Rate: $25.40 - $27.40 per hour
Overview
Perform duties related to daily and month-end reconciliation of unclaimed general ledger accounts, managing dormant accounts and unclaimed property filings, supporting account status updates, handling IRS backup withholding processes, and managing state and federal withholding payments for IRA withdrawals. This role is responsible for accurate processing of 1099 corrections and the administration of Nonresident Alien (NRA) and Resident Alien (RA) accounts. This role ensures compliance with IRS regulations, supports regulatory reporting accuracy, and partners with internal teams to resolve tax-related issues. Additionally, this role oversees and distributes tasks within the team's queues. While working under limited supervision, this job supports other banking professionals to ensure that critical tasks are completed on time.
Duties
Communicates and corresponds with account owners regarding questions regarding unclaimed property laws and regulations, while ensuring compliance with said laws and regulations.
Processes state and federal withholding and backup withholding payments in compliance with IRS and state regulations.
Reconciles unclaimed property general ledgers and internal accounts to ensure accuracy of all financial records and identifies and resolves discrepancies.
Identify unclaimed property (e.g., dormant accounts, outstanding checks, credit balances).
Perform account research to determine owner eligibility and dormancy status.
Conduct due diligence outreach to property owners as required by law.
Prepare unclaimed property reports to state agencies accurately and on time.
Provides solutions to client, branch, and banking inquiries, and escalates issues when necessary.
Research, review, and process 1099 corrections (e.g., name/TIN changes, amount adjustments, reclassifications).
Ensure timely and accurate submission of corrected forms in compliance with IRS deadlines and requirements.
Investigate discrepancies related to 1099 reporting and coordinate resolutions with internal business partners.
Maintain documentation and audit trails supporting all corrections and adjustments.
Apply appropriate withholding rates and exemptions based on residency status and tax treaties.
Monitor account changes that may impact tax reporting or withholding requirements.
Qualifications
2+ years of relevant experience in unclaimed property, tax operations, accounting, banking, or compliance related roles.
Unclaimed Property Compliance & Regulatory knowledge
State Escheatment Knowledge: Working knowledge of state escheatment laws, reporting timelines, due diligence requirements, and remittance processes.
Audit & Documentation Experience: Internal financial and reporting systems.
Strong Excel Skills - Reporting and data analysis, including functions such as VLOOKUP.
Nice to have - SOVOS (unclaimed property reporting and research) tax and regulatory compliance software platform.
Pay Rate: $25.40 - $27.40 per hour