Between the 2024 IRS Stimulus Check that accounted for a whopping $2.4 billion owed to New Yorkers and the Inflation Stimulus Checks that will award New Yorkers with up to $400, 2025 is the year of running us our money–and there’s more where that came from.
Millions of dollars are currently sitting unclaimed in New York, and though a recent update made to the state’s abandoned property law allowed the state comptroller’s office to automatically expedite certain unclaimed funds payments of up to $250 per individual, not having received a payment doesn’t necessarily mean you’re not entitled to some. Yes, that means some of that unclaimed money could literally be yours.
According to the New York State Comptroller’s Office, they’re currently in possession of over $20 billion in “lost money,” or unclaimed funds, and many people don’t even realize some of it could be theirs! Here’s everything you need to know:
What are unclaimed funds?
Unclaimed funds are essentially just money owed to individuals. The state holds the funds in a trust until the rightful owner or their heir comes forward to claim them.
Where do unclaimed funds come from?
Unclaimed funds comes from money left owed to individuals in resources such as utility deposits, trust funds, old bank accounts, investments, insurance policies, uncashed check, estates, and more.
Is unclaimed funds a trap?
No, NYS unclaimed funds is totally legitimate. In fact, New York State returns $2 million each day from lost financial assets going as far back as the 1940s.
How long does New York State hold unclaimed funds?
New York state holds onto unclaimed funds indefinitely, so there’s no time limit for claiming them once they’re reported to the state.
How much money in unclaimed funds has been returned so far this year?
As of the date of writing this article, the New York State Comptroller’s Office has returned $284,664,963 in unclaimed funds in 2025 so far.
How much money am I owed in unclaimed funds?
It depends per person, but the average claim typically totals between $50 and $100.
Do I have to pay taxes on unclaimed money?
Generally, unclaimed funds may not be taxable, but interest earned on those funds may be.
How do I find out if I have unclaimed funds in NY?
You can check to see if you’re entitled to unclaimed funds by searching your name on the state controller’s website.
Pro tip: if nothing comes up in an initial search try misspelling your name, just to be sure. NBC adds it’s also worth searching names of your relatives, especially those who have passed away, considering the accounts date back to the 1940s.