SB-185 FAQs

Q: When do I need to have my SB-185 review performed?
All reviews for the period September 1, 2009 through August 31, 2010 must be completed by December 31, 2010. If the review has not been completed as of this date, you risk losing your license.

Q: How much will a review cost?
The cost varies based on the number of closings and average number of transactions your company performs per month.  Having three-way reconciliations completed and appropriate documentation in place impacts the cost of your review..

Q: Can I consolidate my IOTA accounts?
Yes.  If this makes sense for you to reduce your costs, you may want to consider this option.

Q: Who can perform my review for me?
Your agreed-upon procedures report must be signed by an independent Certified Public Accountant.

Q: What do I need to provide my CPA for the review?
When the time approaches to review your escrow account, we will provide a list of documents necessary to complete the review. Making sure that you provide all the documents needed in a timely manner will ensure that your review is completed properly and on time.

Q: Why should I use Schneider Downs for my SB-185 compliance review?
As specialists in SB-185 compliance, Schneider Downs professionals will guide you through the process, rather than learn at your expense.

Q: What do I need to do now to ensure that my review is completed on time?
By scheduling your SB-185 review with Schneider Downs now and submitting all necessary information prior to November 30, 2010, we commit to providing the required report prior to the December 31, 2010 filing due date.

Q: How do I schedule my SB-185 compliance review?
Contact Brad Tobe at Schneider Downs by phone at (614) 586-7274 or by email at btobe@schneiderdowns.com and request the review sign-up forms, or you can simply complete the online scheduling request form found under the “Schedule a Review" page.  Once we receive your request, we will call or email you within one business day.