By Emily Greenhalgh
PBN Web Editor
PROVIDENCE – ETM, the developer of UPExchange for unclaimed property reporting, has announced that the Office of the R.I. General Treasurer is using UPExpress, the industry’s first standardized, online system for creating and submitting unclaimed reports.
“Treasury is committed to finding innovative ways to provide better, more efficient services to taxpayers,” R.I. General Treasurer Gina M. Raimondo said in prepared remarks. . “Implementing this program streamlines Rhode Island’s efforts for collecting and distributing unclaimed property to its rightful owners.”
According to a company release, UPExpress simplifies the process of collecting and distributing unclaimed property into one Web-based report, allowing the state to customize the information it receives. Customization options include upload requirements, holder agreements and reporting and remittance options.
“The more UPExpress catches on, the more we’re learning,” Layton Olson, ETM’s senior vice president said in a statement. “Since it works with any reporting software holders might have, it gives them all the flexibility they need. Since it reduces paper and other materials, as well as handling and processing time, the states are finding it an asset, too, as evidenced by the number of them that are adopting UPExpress.”