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Wednesday
Jun082011

What's New: Abandoned Property Chapter Updated

DateWednesday, June 8, 2011 at 10:09AM by AuthorBanking Spectrum
In addition to the change of inactivity periods which have been updated in The Gold Book, there are a few other notable changes to the NYS Abandoned Property Laws.

  • financial institutions are no longer required to file preliminary reports

  • financial institutions are no longer required to file negative reports

  • Form AC2709, VERIFICATION AND CHECKLIST FOR UNCLAIMED PROPERTY is updated as of May 2011

  • Form AC2709 no longer has to be notarized

  • Many of the contact addresses for unclaimed funds have changed


To see the new Form AC2790 click here: http://www.osc.state.ny.us/ouf/forms/ac2709.pdf

A new page summarizing the reporting process has been added to The Gold Book.
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