Savings Accounts
Checking Accounts
Uncashed Checks
Telephone/Utility Deposits
Rental Security Deposits
Wages
Insurance Benefits/Policies
Safe Deposit Box Contents
Mortgage Insurance Refunds
Stocks and Dividends
Mutual Funds
Certificates of Deposit
Trust Funds
Estate Proceeds
"How do accounts become unclaimed?"
Did you ever...
Move without notifying everyone with whom you do business of your new address?
Open a school savings account as a child or for your own child and then forget about it?
Move without getting your utility deposit refund?
Forget to cash a health insurance check?
Neglect to cash interest or dividend checks on a security?
Leave a job and never go back to get your last paycheck?
In cases like these, your money is eventually turned over to the State.
"When do these accounts become unclaimed?"
State law requires banks, insurance companies, utilities, and other businesses to turn dormant savings accounts, unclaimed insurance and stock dividends, and other inactive holdings over to the State. If there has been no activity in the account for a set period of time, usually between two and five years, your money is considered unclaimed or abandoned.
Before unclaimed funds are turned over to the State, banks and insurance companies attempt to notify you by mail and are required to publish newspaper listings of names and addresses. Despite these efforts, many funds remain unclaimed and are turned over to the State Comptroller, who acts as custodian.
"Is there a time limit or fee for claiming unclaimed funds held by the state?"
No, there is no time limit and no fee for this service.
New York State holds unclaimed funds in trust - with the State Comptroller as custodian - until the funds are claimed by the owner or heir. The State never takes ownership of the money. It is held for you until you claim it. If at any time you can prove this money is yours, the Comptroller will return it to you without charge.
Please Note: If you are contacted by someone other than the State Comptroller's Office, the maximum fee they can charge you for helping you claim your money is 15%.
"How do I find out if New York State is holding money for me?"
Search for your name on our database
If you don't find your name, but think that you may have unclaimed funds, you may call our hotline at 1-800-221-9311 or 518-270-2200, Monday through Friday, 7:00 a.m. EST to 5:00 p.m. EST.
You may also write to:
Office of the State Comptroller
c/o Office of Unclaimed Funds
110 State Street
Albany, New York 12236
The Office of Unclaimed Funds is eager to help you find any of your funds on record. Remember, there is never any charge for this service.
"How can I claim funds held by the state?"
If you found your name on the list, click on the Account # (in blue text) for the item you are claiming. Also, please see How To File A Claim...
You can also write to our Office. Be sure to include your name, current and all previous addresses, and your social security number.
"How can I find out the dollar amount of the funds?"
By law, we can not disclose dollar amounts for unclaimed funds until we receive proof of entitlement.
"Will I receive interest on the funds?"
By law, we only pay interest on interest bearing items, such as savings accounts, for a period of five years from the date we receive the property. The interest rate is set by the New York State Department of Tax & Finance, and is updated quarterly.
"How long will it take to receive my funds?"
You will receive an acknowledgement letter within a month after we receive your claim. Due to a tremendous increase in claims activity and the significant work done to ensure that all funds are returned to the rightful owners, please allow six months or more for your claim to be reviewed and verified. If additional documentation is required, you will be notified in writing after our review is completed. Please note that all claims involving estates take considerably longer.
"How do I know if I am entitled to funds listed in my name?"
The easiest way to determine if the person listed is you is to check the address associated with the funds. Check to see if you lived or did business at the address. We can not list the Social Security Number because it is considered private under the law, and in many instances we don't know it. However, you must include your Social Security Number on the claim form to verify ownership.
"What if I can not prove the address of record?"
For examples of acceptable proof, please see How To File A Claim.
Please note, in almost all cases we require proof of the address on record. However, if you simply can not provide proof that you once used the old address, just mail in the completed claim form. Attach a note indicating that you don't have proof of the old address. We will advise you in writing of exactly what will be required to claim the account.
"What if I can not prove ownership?"
For examples of acceptable ownership, please see How To File A Claim.
Please note, not all items require proof of ownership. If you have the original document, (ex. check, passbook, bond) we recommend sending a copy of it. If not, just complete the claim form and attach proof of the old address. If further documentation is required, you will be advised in writing.
"What if the owner is deceased?"
The funds can be claimed by the court-appointed representative of the estate. If a representative was not appointed, the funds can still be claimed by a relative (next of kin) or a creditor. However, we will need confirmation of who is entitled to claim the funds, a photocopy of the death certificate, and proof that the deceased once used the address of record.
Open Estate - If the account owner is deceased, the court-appointed representative of the estate may claim the funds. We will need a completed claim form, a death certificate, an original Certificate of Letters Testamentary/Administration, proof of the account owner's connection with the address associated with the account, proof of account ownership if available, and the tax identification number for the estate.
Closed Estate - If the estate was closed, you should submit a statement to confirm that the estate is closed, when it was closed, and the basis for your claim (e.g., executor, surviving spouse, heir). Also send in a completed claim form, a death certificate; a copy of the most recent Letters Testamentary/Administration; proof of the account owner=s connection with the address associated with the account, proof of ownership if available, and the tax ID number for the estate.
No Estate Filed - If the court did not appoint an estate representative, and the value of the funds is below a certain dollar threshold, an heir (e.g., surviving spouse or the closest blood relative) may be able to claim the funds. However, we will need information on who else is entitled to the funds and their relationship to the account owner. We will also need a completed claim form, a death certificate, proof of the account owner=s connection with the address associated with the account, proof of ownership if available, and the social security number for the deceased if available.
Note: In all cases, if further documentation is needed, you will be advised in writing. Also, please confirm that we have an account on record before you pay for original documentation (e.g., death certificates, Letters Testamentary/Administration, etc.)
"Where can I find unclaimed funds in other states?"
You can get a list of all state unclaimed property programs from the National Association of Unclaimed Property Administrators. You can visit their website at NAUPA. You can also click here for links to other States.
"What is required to claim custodial accounts?"
If the child has not reached the age of 18, the custodian must claim the funds. The custodian should provide the standard types of documentation (e.g., claim form, proof of the address associated with the account, proof of ownership if available), along with a copy of the child's birth certificate and Social Security Number. If the child has reached the age of 18, then he/she may claim the funds by providing proof of age and the other required documentation.
"How are joint accounts or accounts with multiple owners handled?"
One of the owners may sign and submit a claim form and provide all of the necessary documentation in order to substantiate a claim. However, the refund will be made payable to all parties listed on the account. If there has been a change in circumstances (e.g., death, divorce, etc.) any available documentation confirming the change should be submitted with the claim.
"What is required to claim in-trust-for accounts?"
The named owner may claim the funds by submitting a claim form, along with documentation to prove ownership of the account and some connection with the address associated with the account. If the named owner is deceased, the person listed as the "In-Trust-For" may claim the funds by submitting the documentation noted previously, along with a death certificate for the owner.
"What is foreign interest withholding?"
If you do not reside in the United States (U.S.), and you do not have a U.S. Social Security Number, this office must withhold thirty percent (30%) of the interest payable on interest eligible refunds. Those funds are then to be turned over to the U.S. Internal Revenue Service, unless there is a tax treaty between the U.S. and your country of residence. To confirm your residency, and possibly qualify for a reduced withholding rate, you must complete and submit a W-8BEN form.
"What are the procedures if you have power of attorney for the account owner?"
You may submit a copy of a Power-of-Attorney, executed by an account owners. If the Power-of-Attorney was executed more than three years prior to you filing a claim, we will need an affidavit from the account owner confirming that it is still in effect. You should also provide the standard types of documentation (e.g., claim form, proof of the address associated, proof of ownership if available).
"How can I minimize problems in processing my claim?"
When submitting a claim, you can provide a brief written summary if there is anything different or unique about the circumstances of your claim. Also, before filing, it would be a good idea to call our Communication Center and speak to one of our agents. This will enable you to get some quick answers and perhaps resolve some issues in advance. The phone number for the Communication Center is 1-800-221-9311 or 1-518-270-2200. The Communication Center is open Monday through Friday, 7:00 am - 5:00 pm.
"Who are considered immediate heirs?"
Immediate heirs include a surviving spouse and blood relatives such as a mother, a father, siblings, children, nieces and nephews. A non- blood relative may also file a claim if appointed by the court as an estate representative.
"What if my name has changed?"
If your name is now different from what appears on our Internet list, you must provide some legal documentation to verify the name change (e.g., marriage certificate, divorce decree, court order, etc.).
"Are any of the funds I receive as a result of successful claim taxable?"
We are required by the Federal Government to report certain types of payments to the Internal Revenue Service (IRS). If your payment includes interest paid to you, you will receive an IRS 1099INT form. If you received cash as the result of securities claim, you will receive an IRS 1099B form. If your payment included any accrued cash dividends on securities, you will receive an IRS 1099MISC form. If you have any questions regarding your tax liability, please consult with an appropriate tax specialist. All IRS information tax reports are mailed during the month of January, following the end of the current calendar year.
