Unclaimed Property Audit Services

The Michigan Department of Technology, Management & Budget is requesting proposals for unclaimed property examination and audit services under RFP 260000001881, with proposals due August 6, 2026 at 3:30 p.m. Eastern and written questions due July 15, 2026. This is a multi-awarded contract pool.

The scope encompasses examinations of unclaimed property holders—companies, governmental entities, and other organizations domiciled in or operating significantly in Michigan, as well as entities located elsewhere in the United States—to identify overdue and unreported unclaimed property subject to the Unclaimed Property Act. Examinations include Standard Examination, Streamlined Examination, and Contractor Assisted Self-Examination offerings. Work is performed at holders' offices or the contractor's offices when electronic records are provided. The contractor must adhere to Generally Accepted Audit Standards, complete examinations within three years of Non-Disclosure Agreement signing (unless extended by the State Program Manager), provide preliminary findings to holders at least every 30 days, and deliver identified property to Treasury within 30 calendar days of final determination. Monthly work-in-progress reports are due by the 15th of each month in National Association of Unclaimed Property Administrators format. One Key Personnel member assigned to Michigan accounts must respond to State inquiries within two business days and is subject to State approval and interview.

The contract term runs October 1, 2027 through September 30, 2032, with up to five additional one-year renewal periods at the State's sole discretion. Pricing is firm and fixed for the entire contract term and must comply with Michigan Public Act 22 of 2025, Section 919. All costs including setup fees, shipping, handling, per-piece pricing, and palletizing must be included in pricing submitted on a contingency fee basis in modifiable Excel or Word format. Payment is via Electronic Funds Transfer within 45 days of receipt of accurate and complete invoices. Liquidated damages of $5,000 plus $100 per day apply for late or improper completion; service-level credits of $100 to $500 are assessed for non-compliance with kick-off and bi-annual meetings.

Proposals scoring 80 or more points advance to pricing evaluation. Evaluation weights 60 percent on technical criteria (Statement of Work Sections 1–11 and Key Personnel Attachment), 15 percent on Sections 12–19, and 25 percent on the Vendor Questions Worksheet. All vendors must execute a Confidentiality Agreement (Form 3337) establishing mandatory compliance with the Revenue Act, City Income Tax Act, and IRC Section 6103(d), with violations carrying felony penalties up to $5,000 in fines and five years imprisonment. Insurance requirements include Commercial General Liability ($1,000,000 each occurrence / $2,000,000 aggregate), Professional Liability ($3,000,000 each occurrence and annual aggregate), and Privacy and Security/Cyber Liability ($1,000,000 employee theft), all with the State named as additional insured. Contractors must complete annual SOC 2 Type 2 security audits at no cost to the State and notify the State of security incidents within 24 hours. Contracts valued at $250,000 or more require State Administrative Board approval. Proposals are irrevocable for 180 calendar days and become public records immediately upon receipt; bidders may request confidential treatment for trade secrets or proprietary financial information via the Confidential Treatment Form. Answers to written questions will be posted by July 24, 2026.