New Yorkers Can Get Unclaimed Funds Faster Under New Law

Dec 4, 2024 at 10:54 AM
New Yorkers are set to experience a significant improvement in accessing their unclaimed funds. State comptroller Thomas DiNapoli's proposed legislation was signed into law last week, bringing about a quicker process. For certain unclaimed funds payments of $250 or less, the need to submit a claim is eliminated if validation is possible. According to DiNapoli's office, the average claim payout ranges between $50 - $100, and the office returns over $1.5 million daily.

Unlock Your Unclaimed Funds with Ease in New York

How to File a Claim for Your Unclaimed Funds in NY

This year, as of Nov. 27, over $450 million has been returned to New Yorkers. Here's a step-by-step guide on how to file a claim for your unclaimed funds. Firstly, enter your name in the Search for Individual box on the state comptroller's Search for Lost Money page of their website. If filing online, choose the item you want to claim first and then follow the onscreen directions and prompts. When filing by mail, fill out the information on the "Mail Claim Form" page after selecting a name from the search results or clicking the "Mail Claim Form" link. Print and sign the form, have it notarized by a licensed notary public, attach the required documentation, and send it to the Office of the State Comptroller, Office of Unclaimed Funds at 110 State Street in Albany, New York 12236.

Once you receive your check, the state comptroller's office advises cashing it as soon as possible. If not, it will be reported as unclaimed funds again, and you'll need to file a new claim. You have until December 31 of the following calendar year to cash it.

How much in unclaimed funds does each region in NY have?

New York County holds the highest amount of unclaimed funds in the state, with $2,678,545,599. Across upstate New York counties, Erie County has the most, with $202,648,726. Here's a detailed look at the total amount of unclaimed funds in each New York region as of October:

In the Adirondacks region (Clinton, Essex, Franklin, Fulton, Hamilton, Herkimer, Lewis, Warren and Washington counties), the amount is $63,410,370. In the Capital-Saratoga region (Albany, Rensselaer, Saratoga and Schenectady counties), it is $198,748,083. The Catskills region (Delaware, Greene, Sullivan and Ulster counties) has $80,356,890. In the Central New York region (Broome, Chenango, Madison, Montgomery, Oneida, Otsego and Schoharie counties), the total is $118,436,797. The Chautauqua-Allegany region (Allegany, Cattaraugus and Chautauqua counties) has $35,528,546. In the Finger Lakes region (Cayuga, Chemung, Cortland, Livingston, Monroe, Onondaga, Ontario, Schuyler, Seneca, Steuben, Tioga, Tompkins, Wayne and Yates counties), it is $358,675,042. In the Hudson Valley region (Columbia, Dutchess, Orange, Putnam, Rockland and Westchester counties), the amount is $719,234,539. On Long Island (Nassau and Suffolk counties), it is $1,015,681,825. In the Niagara Frontier region (Erie, Genesee, Niagara, Orleans and Wyoming counties), the total is $253,193,038. And in the New York City region (Bronx, Kings, Queens, New York and Richmond counties), it is $5,302,731,059. In the Thousand Islands-Seaway region (Jefferson, Oswego and St. Lawrence counties), the amount is $40,055,089.

Emily Barnes, who reports on consumer-related issues for the USA TODAY Network's New York Connect Team, focusing on scam and recall-related topics, keeps us updated. Follow her on Twitter and Instagram @byemilybarnes. Get in touch at ebarnes@gannett.com.