ClaimNotify.org: Public Service Announcement
FOR IMMEDIATE RELEASE
New York State Comptroller's Office to Implement New Unclaimed Property System
Albany, NY – The New York State Comptroller’s Office of Unclaimed Funds has announced a significant transition to a new administrative platform, the Kelmar Abandoned Property System (KAPS), effective in 2025. This modernization effort is designed to enhance the efficiency and accessibility of the state's unclaimed property program for both claimants and reporting entities.
Starting July 1, 2025, the state will exclusively accept reports formatted in the National Association of Unclaimed Property Administrators (NAUPA) standard file format. This change will retire the previously accepted New York-specific reporting formats (Excel, NYCD, HDT). The transition to the NAUPA format is a crucial component of the KAPS implementation, aligning New York with a national standard and streamlining the reporting process for businesses and organizations.
In addition to the new reporting requirements, the Comptroller's Office will be rolling out several enhancements for the public. A new, improved system is scheduled for release on August 11, 2025, with enhanced features aimed at simplifying the process of claiming lost funds. During a brief maintenance period, which includes August 3, 2025, online documentation submission for claims will be unavailable.
This initiative is part of a broader effort to improve the return of unclaimed funds to their rightful owners. The state holds over $19 billion in unclaimed funds, and the new system is expected to increase the speed and ease with which these funds are reunited with their owners.
For specific questions regarding the transition, reporting organizations are advised to use the state’s Contact Us form and select “Subject: Reporter Question,” adding “NAUPA Conversion” in the comments section. Claimants should monitor the official website of the Office of the New York State Comptroller for updates on the new system and online submission capabilities.
Sources:
- Office of the New York State Comptroller: What's New
- Office of the New York State Comptroller: Electronic Reporting
- Unclaimed Property Professionals Organization (UPPO): New York Announces Move to KAPS, NAUPA File Format