Funds & Taxes

Settlement Administration Financials, Funds, and Taxation

Simpluris provides financial settlement fund management services, including specific financial institution investing where applicable. Simpluris captures and securely stores all Federal and State W-2 and 1099 data, as well as Qualified Settlement Fund (QSF) annual reporting and tax filings, submitting to governmental agencies on time, every time. Simpluris handles all of the printing and mailing of class member W-2 and 1099 forms across the United States and perform TIN/SSN matching and verification processes to ensure accuracy and prevent duplications. Our staff is diligent in observing 100% accuracy, tracking down all settlement recipients and works to make escheating to state a non-issue. If it does come to turning monies to the state, we make all required attempts to notify the class member before doing so. Simpluris complies with every state’s laws throughout the escheating to state processes. With every case, Simpluris does a self-audit to reassure we are meeting each state and federal fund distribution and tax reporting law. Not every case is the same, so it is important to us to remain flexible to the needs of our clients and the progressive nature of laws and statutes. On occasion a settlement case will escheat funds to the state. Settlement awards escheat to their parent state when a class member does not receive or cash their settlement check after all contact attempts have been completed. Simpluris abides by each state’s guidelines for escheating, and we keep accurate contact information on each class member via class member provided data, skip traces and other services used to locate members. It is our goal to get settlement awards into the hands of the rightful recipients.

Fund types include:

• Qualified Settlement Fund (QSF)
• Specialized Distribution Funds
• Third Party Tax Payout Funds

Tax filings include:

• W2
• 592-B
• 1099-MISC
• 1099-INT
• W9
• etc