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July 18, 2015

New York State Comptroller is holding $14 Billion in Unclaimed Funds


New York State Comptroller is holding $14 Billion in Unclaimed Funds
[Click on text highlighted in colorto access the Comptroller "Unclaimed Funds website] 

New York State Comptroller DiNapoli has made it a priority to reunite rightful owners with their lost money. This year, New York again set a national record for paid claims, with more than $427 million returned. An overview report of the State's unclaimed funds program is available online at the Comptroller’s website.*

These monies are not simply those “forgotten” by individuals and businesses. State and local agencies, school districts, labor unions and law firms may also have “forgotten” funds being held by the Comptroller.

Listed below are some of the govenmental entities having funds being held in the Comptroller’s “Abandoned Property Fund:"

DEPARTMENT OF LAW Reported By YUM BRANDS RESTAURANTS SERVICE GROUP INC & AFFILIATES

SUNY DOWNSTATE Reported By STAPLES INC

COUNTY OF CORTLAND,  Reported By NATIONWIDE RETIREMENT SOLUTIONS

TOWN OF COLONIE Reported By ANTHEM INC

VILLAGE OF CANTONPOLICE DEPT Reported By GALLS LLC

SCHOOL DISTRICT OF ALBANY Reported By CDW LLC

UFSD-22 FARMINGDALE NY Reported By NATIONAL GRID

CSEA LOCAL 1000 AFSCM Reported By STATE OF CALIFORNIA

DEPARTMENT OF HOMELAND SECURITNSHIP Reported By NEW YORKSTATE DIVISION OF THE TREASURY

With the recent improvements to the Comptroller's online search function, the process is now easier than ever. The online search tool is compatible with mobile devices so users can check to see if there are any unclaimed funds in their name or in the name of their organization using a number of electronic devices such as a "smart" phone, a tablet, or a computer. On average, the Comptroller returns $1 million a day to rightful owners.

To get the process started is go to https://ouf.osc.state.ny.us/ouf/  and enter your name or the name of your organization in the appropriated space. However, finding a particular entity may require some imagination. For example, entering “SUNY Albany” and entering  “Albany Universityat Albany” as the name of the entity both returned different “hits” as indicated below.

SUNY ALBANY Reported By XEROX CORP and by COCA COLA REFRESHMENTS USA INC. and by ELRAC LLC

ALBANY UNIVERSITYAT ALBANY Reported By YOUNG & RUBICAM INC

* https://www.osc.state.ny.us/ouf/ouf_ar_sfy2014_15.pdf

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NYPPL Blogger Harvey Randall served as Principal Attorney, New York State Department of Civil Service; Director of Personnel, SUNY Central Administration; Director of Research, Governor’s Office of Employee Relations; and Staff Judge Advocate General, New York Guard. Consistent with the Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers and Associations, the material posted to this blog is presented with the understanding that neither the publisher nor NYPPL and, or, its staff and contributors are providing legal advice to the reader and in the event legal or other expert assistance is needed, the reader is urged to seek such advice from a knowledgeable professional.
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