► NY Data: See our full list of databases, including real estate transactions and public employee salaries Banks, insurance companies, corporations and the courts are among the many organizations required by law to report dormant accounts to the comptroller. How do I get my money?
► Check here to search for unclaimed funds Returning that money isn’t a simple task. The accounts have gone unclaimed in the first place because a company has lost contact with an account holder.
Sometimes it’s because a person moves and doesn’t leave a forwarding address with their insurance agency. Sometimes a utility company needs to refund a security deposit but can’t find the customer. Sometimes, believe it or not, folks just forget about savings accounts they’ve opened or stock they’ve purchased. But the burden is on individuals to determine whether their name appears in the unclaimed funds database and to undertake the steps required to recover that money.
There are then a few ways to claim your money: Visit the Comptroller’s website at: https://www.osc.state.ny.us/oufMake a claim through the mail: The New York State Comptroller’s Office of Unclaimed Funds, 110 State St., Albany, NY 12236.Call (800) 221-9311Other tips to knowThere is no fee to reclaim funds.More than 10 million searches are conducted annually.Interest on interest-bearing accounts is provided for five years, currently at 1%.If the money isn’t claimed after several years, it goes into the state’s general fund to pay for programs and services.Facts and figures about unclaimed funds45% of the money comes from old bank accounts. Financial institutions are required to send the money to the state once they sit dormant for years.With 42 million accounts, the Comptroller’s Office said it returns more than $1.5 million a day.The largest returned? $5.2 million from a stock claim.The largest amount still unclaimed is approximately $8 million for an estate70% of claims are less than $100.The Comptroller’s Office offers answers to other frequently asked questions about unclaimed funds at its website: https://www.osc.state.ny.us/ouf The USA TODAY Network’s database will show you if you are owed as little as $3 since 1985. The state Comptroller’s Office also has its own site, which shows money as little as $20.
Type in a name and it will show any matches. Each year, the USA Today Network in New York creates its own unclaimed funds database from the data provided by the Comptroller’s Office.
The News Highlights
- The New York database allows you to search for unclaimed state funds by name
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