Can businesses also claim unclaimed funds?

Yes, businesses can claim unclaimed funds. If a business has unclaimed funds that belong to them, they can file a claim with the New York State Comptroller's Office of Unclaimed Funds. The unclaimed funds could be in the form of uncashed checks, forgotten bank accounts, or abandoned assets. To begin the process, businesses need to provide documentation proving their ownership and entitlement to the funds. This may include business records, identification, tax forms, and any relevant supporting documents. Once the claim is submitted, it undergoes a verification process, which typically takes several weeks. If the claim is validated, the business will receive the funds, allowing them to recover their unclaimed assets and put them to use in their operations.