If you reside in New York State, there’s a chance that you may have unclaimed funds waiting for you to collect. With billions of dollars in unclaimed funds currently held by the Office of the New York State Comptroller, it’s worth exploring whether any of that money belongs to you. Here’s a simple guide on how to reclaim your unclaimed funds:
Understanding Unclaimed Funds: Unclaimed funds refer to money that has been abandoned or forgotten by its rightful owner. Each year, businesses such as banks, insurance companies, corporations, and the New York State courts are required by law to report dormant accounts to the State Comptroller. These accounts could include old bank accounts, dividends, estate proceeds, insurance benefits, stocks and bonds, utility deposits, and apartment security deposits.
How to Check If You Have Unclaimed Funds: Businesses are mandated by law to make efforts to notify individuals about their dormant accounts through mail and newspaper publications. However, if you suspect that you may have unclaimed funds, you can conduct a search on the official website of the Office of the New York State Comptroller. The website provides a simple and user-friendly search tool where you can enter your name to see if you have any unclaimed funds waiting to be collected.
Steps to Claim Your Unclaimed Funds:
- Visit the official website of the Office of the New York State Comptroller.
- Navigate to the unclaimed funds section or use the search tool provided on the homepage.
- Enter your name or the name of the individual you’re searching for.
- Review the search results to see if there are any unclaimed funds associated with the name.
- If you find unclaimed funds linked to your name, follow the instructions provided to initiate the claim process.
- You may be required to provide supporting documentation to verify your identity and claim ownership of the funds.
- Once your claim is approved, you will receive your unclaimed funds.
Amount of Funds Returned: New York State takes proactive measures to return unclaimed funds to their rightful owners. On average, the Office of the State Comptroller returns approximately $1.5 million to residents across the Empire State every day. In the year 2023 alone, New York State has already returned over $133 million in unclaimed money to rightful owners.
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Don’t let your money sit idle in unclaimed funds. Take a few minutes to search for any unclaimed funds that may belong to you and follow the simple steps to reclaim what’s rightfully yours.