What happens to unclaimed funds if they are not claimed?

If unclaimed funds are not claimed, they are transferred to the New York State Comptroller's Office of Unclaimed Funds. The office is responsible for safeguarding the funds until the rightful owners come forward to claim them. These unclaimed funds, which can include money from forgotten bank accounts, utility deposits, and uncashed checks, among other sources, are carefully recorded and maintained by the office. The Comptroller's Office makes diligent efforts to locate and notify the rightful owners through various outreach programs and online resources. If the funds remain unclaimed for an extended period, they are used for the benefit of the state and its residents, supporting a wide range of programs and services while ensuring transparency and accountability in the process.