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New York State Comptroller's Office Returns Record $633 Million in Unclaimed Funds

Albany, NY – The Office of New York State Comptroller Thomas P. DiNapoli announced a record-breaking year for the Office of Unclaimed Funds (OUF), with $633 million returned to rightful owners in State Fiscal Year (SFY) 2024-25. This represents a 25% increase over the previous fiscal year and an average of over $2 million returned every business day.

A key contributor to this success is a new law championed by Comptroller DiNapoli's office that expedites the return of some lost money. Beginning in January, the OUF started mailing checks for certain newly reported accounts of $250 or less directly to eligible individuals, without requiring a claim. In just its first few months, this program returned funds to over 30,000 New Yorkers.

"Reuniting New Yorkers with their lost money is one of the most gratifying parts of my job," said Comptroller DiNapoli. "Many people are unaware that these funds belong to them, and we are committed to making it as easy as possible to get this money back into their hands."

In SFY 2024-25, the OUF collected a total of $1.5 billion in unclaimed funds. The largest sources were:

  • Banks: 37%
  • Corporations: 29%
  • Insurance Companies: 17%

Unclaimed funds are turned over to the state after a period of inactivity, typically three years.

The OUF continues proactive outreach to raise public awareness. In the past year:

  • Staff attended 54 in-person events across the state.
  • A mailing campaign returned over $22 million to rightful owners.
  • Audits and compliance initiatives identified $127 million in unclaimed funds and returned an additional $92 million to owners.

The Office is also undertaking a System Modernization Project to replace its 25-year-old system with a next-generation platform in 2025, which will improve the administration and management of unclaimed property.

Comptroller DiNapoli urges all New Yorkers to search for funds that may be held for them:

"I urge all New Yorkers to visit the Unclaimed Funds page on our website to check the database and see if we are holding money for you."