Hey New Yorkers! There might be some unclaimed funds out there that are rightfully yours and you don’t even realize it. If this is the case, the State is holding the monies right now so you better claim it quick. Also, this isn’t just for individuals, this is for companies too!
How Could This Happen?
This frequently occurs when residents move without notifying businesses, forget about savings accounts, interest on security deposits, unclaimed final paychecks, and other similar instances. The same is true for businesses.
The State requires banks, insurance companies, utilities, and other businesses to turn these inactive holdings (2-5 years without activity) over to the State. There are attempts to notify the owners of the funds by mail but sometimes it never gets to the recipient and thus goes to the State Comptroller’s general custodial account.
How Do I Check If I’m Owed Money
It’s very easy. Go to the New York State Comptroller website and search the database by entering your full name or company name. This is very important. Make sure that you search multiple times with various derivations of your name, especially if you own a company. If the company name has multiple words just search under the first part of the name. Sometimes the database lists the company name slightly different from what it should be. You can also call the number 1-800-221-9311 to double check if you don’t see unclaimed funds with your name in the database.
How to Claim the Funds
If you are entitled to unclaimed funds then simply complete the form online or if you are not eligible to claim online, simply print the mail claim form & send it to the State.
Additional Interest Due to You
You will also benefit from additional interest due to you should you have unclaimed funds. The State is required by law to remit the funds with interest based on the date they received the property & when the claim was made.
What About Unclaimed Money in Other States?
The National Association of Unclaimed Property Administrators (NAUPA) allows you to conveniently search for unclaimed property throughout each state in the country. So be sure to tell your friends and family members with interests in other states.
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