New York is Returning Unclaimed Money to Citizens
The state of New York is home to one of the largest unclaimed money pools in the country. The New York state treasury is taking all the measures to relocate the rightful owners of the unclaimed money. At current count, the state of New York currently holds nearly $10 billion in unclaimed funds. Most of these unclaimed funds come from come from 25 million inactive bank, business, and government accounts unclaimed by their owners and are currently in the care of the state controller’s office.
As a result of the aggressive reclaim program of New York, the volume of claims have increased drastically in the last 6 months, and awareness about the unclaimed money and claim process is increasing by the day. The newly launched Online Claim program of The Office of Unclaimed Funds is extremely easy to navigate and an extremely secure way to reclaim the lost money. New York department of unclaimed funds also enables you to post your claim if the name is absent from the online list.
A new outreach program has been initiated by the New York State Comptroller’s Office of Unclaimed Funds (OUF) to increase awareness about the unclaimed funds process. This has resulted in a very positive response from the citizens of New York and has also seen a boost in the number of claims across the state. The outreach program effectively conveys the message across the state of New York by participating in a variety of public events. The New York State Comptroller’s Web Site can be accessed at www.osc.state.ny.us.
The state of New York also publishes an “Abandoned Property Supplement” of the New York State Register, which contains a list of abandoned property. This supplement is published by – New York State Department of State, 162 Washington Avenue, Albany, NY 12231
New York State has also been successfully reuniting the heirs of original property owners who could not be located. The outreach program of the state along with the National Association of Unclaimed Property Administrators (NAUPA), a nonprofit organization affiliated with the National Association of State Treasurers has managed to spread widespread awareness about the state government’s unclaimed funds initiative.
