New York State residents should watch their mailboxes as checks for unclaimed funds are being sent out automatically. A new state law allows the Comptroller’s office to issue checks up to $250 without requiring a claim, pulling from dormant accounts, uncashed checks, and abandoned funds.
Comptroller Thomas DiNapoli revealed nearly $19 billion in unclaimed funds tied to over 11 million accounts. While much of it belongs to deceased individuals, heirs are encouraged to search their relatives’ names on the Comptroller’s website to claim eligible amounts.
Previously, claims were mandatory for all amounts, but now only sums exceeding $250 require filing. Verified smaller amounts will be sent directly to rightful owners.
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