While you may view filing unclaimed property reports as a hassle that comes up once or twice a year, trying to finish the task more quickly by filing to only your state of incorporation could cost you in the long run.
Reciprocal filing is something that many states have allowed, with the idea that if you file largely to your state of incorporation but have one or two extra records that need to go to another state, you can force those additional records onto your report. Then the state will send the records, and the money, to the appropriate state.
Keep in mind though that if your report is due on October 31st, even if you send it in a couple of days before that, it will take some time – often months – for the report to be processed. Only then will your record(s) and money be forwarded to the appropriate state(s), by which time it could be late. The state that those records get forwarded to go by the date they received the records, and this could result in late reporting fees and penalties.
Your unclaimed software provider should allow you to report to all states for which you have records at the appropriate time. With a few extra clicks of your mouse, you remain compliant, which means getting records and payment to the appropriate state(s) before their due date. The best way to ensure that happens, is to see to it yourself with direct filing to all states in which you have a property owner on the date that those records are due.