A new bill poised to simplify the return of unclaimed funds to New Yorkers is awaiting the green light from Governor Hochul.
Sponsored by Comptroller Thomas P. DiNapoli, this legislation could make the process of reclaiming small amounts of unclaimed money seamless by automatically returning sums under $250 to verified owners, skipping the lengthy claim process.
How It Works
Currently, New Yorkers need to search manually for their unclaimed funds through the Lost Funds Search page.
With nearly $19 billion in forgotten funds in New York—ranging from old bank accounts and insurance payouts to expired gift cards—the bill aims to help get money back into people’s hands faster.
Easy Access to Unclaimed Money
If approved, the law would roll out an expedited return program, starting with small claims in early 2025. Links for easy reference:
- Start Your Search: Lost Funds Search Page
- Steps to Claim: How to Claim Unclaimed Funds in NY
- Track Unclaimed Property: Unclaimed Property Overview
Starting January 1, new claims would qualify for automatic disbursement, with the potential to include larger sums after the program’s first year.
Governor Hochul will decide to sign, amend, or veto the bill, potentially changing how quickly New Yorkers receive their forgotten funds.
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