Every year, millions of dollars are turned over to New York State simply because the rightful owner cannot be located. This “lost money,” known as unclaimed funds, comes from everyday sources: forgotten bank accounts and stock dividends, uncashed checks, utility deposits, or wages that were never collected. When companies are unable to reach the owner after a period of time, state law requires that money be transferred to the State Comptroller, where it’s held safely until claimed.
This is not an insignificant issue. New York State currently holds $13 billion in “lost money” and in Orange County alone, there are half a million unclaimed accounts, totaling over $104 million held by the state. Money that belongs to residents, families, local businesses, and even municipalities here in our community, many of whom are completely unaware it exists or assume it cannot be recovered.
The good news is that checking for unclaimed funds is simple, free, and only takes a few minutes. The Comptroller’s Office maintains an online search tool on their website (ouf.osc.ny.gov) where you can look up your name, the name of a business, or even a relative. If a match appears, the site walks you step by step through the claim process. There is no fee to claim your money, and no deadline! Once ownership is verified, the funds are returned directly to you.
I strongly encourage you to take the time to search. Reuniting your household with money that is rightfully yours puts resources back in your pocket, where it belongs.
