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Long Island

Unclaimed funds total $550M for LIers, state reports

From left, Candyea Brown, of Elmont, Sen. Todd

From left, Candyea Brown, of Elmont, Sen. Todd Kaminsky, New York State Comptroller Thomas DiNapoli, Janet Pearsall, of Oceanside, and Barbara Fischkin, of Long Beach, encourage New Yorkers to check the state's unclaimed funds list on Thursday, Dec. 15, 2016, in Rockville Centre. Photo Credit: Howard Schnapp

Santa may be in cahoots with the state this holiday season: there’s more than $550 million in unclaimed funds that Long Islanders can recoup through the Comptroller’s office.

The unclaimed funds come from money left in bank accounts, as well as from corporations, insurance companies, state court funds and brokers and dealers, according to Comptroller Thomas DiNapoli’s office.

DiNapoli and state Sen. Todd Kaminsky (D-Long Beach) said at a Thursday news conference that more than $3.4 million has already been returned to 6,853 people in the 9th Senate District after the senator notified his constituents of their unclaimed funds over the summer.

“Government should always work for the people,” Kaminsky said in a statement. “I wanted to ensure that my constituents who had unclaimed funds not only knew it, but also knew how to recoup their money.”

Within the 9th Senate District, which stretches from Elmont south to Long Beach and Inwood east to Baldwin, more than $94 million remains unclaimed. In all of Nassau County, a total of $316.3 million is unclaimed, while $236.4 million is unclaimed in Suffolk County, DiNapoli’s office said. Statewide, $14.5 billion is unclaimed.

“This money has been turned over to my office for temporary safe keeping, and we want to return it as soon as possible,” DiNapoli said.

While the largest payout to one person was more than $4 million in 2008 from a stock claim, the Comptroller’s office said 53 percent of claims are less than $100. There is no state fee to claim the funds, though private companies may charge a finder’s fee.

For more information, contact Kaminsky’s office at 516-766-8383 or go to http://www.osc.state.ny.us/ouf/index.htm.

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