And now for some good news.
DiNapoli is hoping New Yorkers take advantage of the states large amount of unclaimed funds -- $10.5 million to be exact.
“New York has $10.5 billion in unclaimed fund accounts. We want to return this money to its rightful owners,” DiNapoli said. “The money belongs to New Yorkers. We want to give it back.”
The money comes from banks, insurance companies, utilities, investment companies and many other businesses that are required by state law to surrender inactive accounts to the government. These accounts are considered “lost,” “abandoned” or “unclaimed” by businesses and the funds related to these accounts are handed over to the Office of Unclaimed Funds.
Once handed over the state comptroller’s office acts as the custodian for the unclaimed money. Until the moment the money is claimed, they are included and used in the State’s General Funds, according to the Unclaimed Funds website.
The entire process takes about 90 days from the time a New Yorker submits a claim to the time the state acknowledges and verifies it.
New Yorkers can check for unclaimed funds at www.osc.state.ny.us or by calling toll free at 1-800-221-9311.
For more personal service, representatives from DiNapoli’s office will be at the following local events:
Hudson Valley Region
Aug. 13 9am-12pm The Village of Scarsdale Village Hall 1001 Post Road Scarsdale, NY Westchester
Aug. 24-29 10am-10pm Dutchess County Fair Fairgrounds Rhinebeck, NY Dutchess
Aug. 19 10am-4pm Sunken Meadows August Picnic Sunken Meadows State Park Kings Park, NY Suffolk
Aug. 6 10:30am-12pm Van Cortlandt Senior Center 3880 Sedgwick Avenue Bronx, NY Bronx
Aug. 7 11am-4pm Asian Community United Society’s 59th Street btwn. 8th & 9th Ave. Brooklyn, NY Kings
Annual Street Fair
Aug. 20 11am-4pm Spring Creek Gardens Health Expo 903 Drew Street Brooklyn, NY Kings
Aug. 21 10am-4pm Senator Eric Adams Annual Cradle Prospect Heights High School Brooklyn, NY Kings
to College Parent Empowerment Campus 833 Classon Avenue
Aug. 21 12pm-6pm Assemblyman Peter Rivera’s Bronx 1270 Pugsley Avenue Bronx, NY Bronx