New York Unclaimed Property

For Businesses

Businesses in New York must report unclaimed property if it has been inactive for five years. This includes uncashed checks, unclaimed wages, and abandoned accounts. Businesses are also required to notify owners before reporting property as unclaimed.

Prior to reporting unclaimed property, businesses must conduct due diligence to locate the owners. This typically includes sending written notices to the last known address of the owner.

Companies must submit an unclaimed property report by March 10 each year, detailing all unclaimed property held. The report must include the names and last known addresses of the owners.

Non-compliance with unclaimed property laws can result in significant penalties and fines. The New York State Comptroller’s Office may audit businesses and require documentation related to unclaimed property.

Companies can reclaim unclaimed property by filing a claim with the Comptroller's Office and providing necessary documentation to prove ownership.

Businesses also do not have a time limit for claiming their unclaimed property, but they must comply with reporting and due diligence requirements to avoid penalties.

For Individuals

In New York, unclaimed property refers to financial assets that have remained inactive for a specified period, typically five years, and have not been claimed by their rightful owners. This includes bank accounts, stocks, insurance payouts, and other types of financial assets.

Financial institutions and other entities must report unclaimed property to the New York State Comptroller’s Office annually. They are required to make reasonable efforts to contact the property owners before reporting.

Individuals can search for unclaimed property through the New York State Comptroller’s website. If they find property belonging to them, they can file a claim by providing proof of identity and ownership, such as identification, account information, or documentation proving their claim.

After submitting a claim, the New York State Comptroller's Office reviews it and may ask for additional documentation. Claims are generally processed within 30 days, although some may take longer depending on complexity.

Individuals can claim their unclaimed property at any time. There is no expiration date, and the property remains available for retrieval until claimed.

Why Use Asset Reunite Partners?

We provide a hassle-free alternative to searching & filing claims independently and maximize your chances of claims approval. Our company is well-respected in the industry and has established strong connections with unclaimed property administrators, attorneys, and other key professionals.

Extensive & Ongoing Search

Our team is able to uncover assets from overlooked and often unknown sources by leveraging cutting-edge research tools, extensive agency partnerships, and our proprietary database. We provide isolated searches as well as ongoing audit coverage for individuals and institutions on the receiving end of unclaimed assets.

High Success Rate

Don't risk delays and legal expenses in claims that get rejected. Our team knows the in's and out's to get your money promptly without need for all the back and forth paperwork and associated costs.

Instant Payment

Our streamlined method ensures an accelerated claims process that delivers significant recoveries. However in certain cases/jurisdictions, there may be lag on the part of the government. Depending on the claim, you may have the opportunity to participate in our claims purchase program, where we buy the right to a claim in return for upfront cash.

At Asset Reunite Partners, our dedicated team works around the clock to promptly resolve problems and answer questions.

Dedicated Support

Let us help you simplify your asset recovery process.

Reach out for expert asset recovery assistance today.