Sovos, a company specializing in tax compliance, has introduced ReportMyUP, a new product suite designed to simplify unclaimed property management and reporting for businesses. The ReportMyUP suite offers a flexible, self-service platform intended to provide businesses with instant access to unclaimed property management, allowing them to pay for only the features they require. This expands Sovos’ existing portfolio in unclaimed property. The suite includes two distinct solutions: ReportMyUP, which covers core unclaimed property management functionalities such as property tracking, dormancy calculations, due diligence, state reporting, and escheatment; and ReportMyUP Plus, which builds upon these features by offering additional flexibility and support for more complex property types. Both solutions ensure NAUPA-compliant reporting across all 50 U.
S. states, the District of Columbia, Puerto Rico, Guam, and the U.
S. Virgin Islands. Sovos highlights its position as the only provider offering one-click electronic filing to over 30 states. This feature aims to enable instant reporting, potentially saving businesses time compared to traditional manual reporting processes. Ryan Buma, Vice President, Marketplace & eCommerce at Sovos, stated, “With ReportMyUP, businesses no longer need to struggle with complicated, manual processes for unclaimed property reporting. We’ve built solutions that offer incredible value, are simple to use, and powerful enough to handle everything from due diligence to reporting for every state and jurisdiction with requirements.” This product launch contributes to Sovos’ expanding portfolio of eCommerce-focused compliance solutions, which also includes offerings for 1099 reporting and tax identity management. These solutions collectively support Sovos’ objective of delivering accessible, reliable, and compliant technology to businesses of all sizes. ReportMyUP and ReportMyUP Plus are currently available through ReportMyUP.com, with annual subscriptions beginning at $299. Sovos provides the Sovos Compliance Cloud platform, which assists businesses globally in identifying, determining, and reporting tax obligations. The platform processes over 16 billion transactions annually across nearly 200 countries. The company serves more than 100,000 customers, including half of the Fortune 500.
