Abandoned Property Law Changes

New abandoned property law changes for NYS are effective immediately.  Notably, the escheatment period for deposit accounts has been reduced from 5 to 3 years, and the reduction in time period applies to other types of abandoned property as well.  The November report must reflect the new time period.  Other changes have been made in the law regarding preliminary reports and publication requirements.

Check back soon for updated information and news about updates to the abandoned property section of The Gold Book.