Unclaimed Property
Each year USANA is obligated by law and various state statutes to file an unclaimed property return. Each state has a different set of laws about unclaimed property, the holding periods, and property types. USANA has a third party company (JMS Advisory Group) that will contact every Associate and Preferred Customer who has unclaimed property with a due diligence letter that is mailed out as good corporate governance, though not every state requires a due diligence letter. Please note that Associates and Preferred Customers who have a Balance on account less than $20.00 may not be contacted, as this is the standard minimum amount.
The Associates or Preferred Customers have 30 days to respond via mail or fax to claim their funds; a phone call or e-mail (compliance@jmsadvisors.com) will not suffice, as JMS Advisory group may not process a request without written documentation. If Associates respond to the letter mailing, the JMS Advisory Group will reissue their funds with a check for both commission checks and Balance on account as well as Associates who do not have any Business Centers or Preferred Customers on behalf of USANA.
JMS Advisory Group on behalf of USANA has up to eight weeks to process the refund and reunite the owner with the property. Once the deadline has passed, JMS Advisory Group on behalf of USANA will prepare the unclaimed property reports and return the property to the state no later than the yearly deadline. Once funds are returned to the state, USANA no longer has the property nor the obligation to the Associate or Preferred Customer; the Associate or Preferred Customer must then contact the state directly. Depending on the state, it could take weeks to process USANA’s report, while other states could take months. Most states will publish a listing of unclaimed property in the local paper. The state may not contact the Associate or Preferred Customer directly.
When USANA has sent the funds to the state, one can look up every states website from the following link to research the unclaimed funds. http://www.unclaimed.org/
It may take from eight to ten weeks to process Unclaimed Property requests based upon the volume of responses
Last modified: December 1, 2023
