Uncashed Checks

Check distribution, reissuing, tracking, and reporting.

Uncashed checks are a burden.

Every year, millions of checks go uncashed which in turn increases plan costs, complicates plan management and administration, and prevents fiduciary responsibilities from being met. PBI Research Services has extensive experience in check distribution, reissuing checks, tracking/reporting, and communication for audit purposes.

Remove Liabilities

Uncashed checks are a liability to an organization and can increase the chance of being audited, requires organizations to meet additional regulations, and increases the opportunity for fraud.

Improve Data Quality

Inaccurate data is a common problem. With PBI, you receive validated addresses, phone numbers, and documented efforts of communication to verify you have the most updated information.

Full Audit Trail

PBI documents each effort to connect and communicate. A full report is provided to you in case of a DOL audit.

Minimize Required Resources

Sending communication, managing returned mail, identifying a new address, verifying correct fund holder, and cutting the check requires significant resources. PBI removes that work. Taking care of every step along the way.

PBI is here to help.

PBI streamlines the entire process for you by establishing a non-interest-bearing account to hold assets attributed to uncashed checks, conducts analysis to locate and communicate with missing owners, manage incoming inquiries, issues replacement checks, facilitates the transfer of funds, and provides a full audit report.

Minimize resources, eliminate risk and liability to your organization, and improve participant experience.