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NYS Comptroller

THOMAS P. DiNAPOLI

Voluntary Compliance Program


It pays to comply

Eligible organizations that hold unclaimed funds, but haven’t filed required reports, are invited to participate in the Office of Unclaimed Funds Voluntary Compliance Program.

Benefits of participation include:

  • Reduced reach back period - 10 years plus dormancy on general ledger items
  • Six months to file your report without interest or penalty assessment
  • Increased potential for your customers to be reunited with their lost funds

 

Who's Eligible

Eligible holders of unclaimed funds must:

  • Have not been contacted about an audit for New York State
  • Be a first-time reporting organization (in some cases companies who filed in the past may apply again if they failed to report a particular type of property and want to voluntarily correct the error)

 

How to Participate

1. Email the Voluntary Compliance Unit at NYSVCU@osc.state.ny.us:

  • Provide your contact information, company name(s) and tax identification number(s). We’ll reply with a reference number.
  • Review your company’s records and complete the Self-Audit Checklist online. The checklist makes it easier to determine if your company is holding unclaimed funds.

OR

2. Submit a Voluntary Compliance Agreement (VCA) if you know you have past due items to report:

  • Review VCA instructions online.
  • Submit an original signed copy.  We’ll review the information you provide and respond with further instructions.

Acceptance into the Voluntary Compliance Program or VCA is subject to approval.

 

What Happens Next

Submit your report and remit any past due unclaimed funds within six months from receiving your approved program enrollment or VCA to take advantage of the reduced reach back and interest /penalty free period.

 

Request Help

Contact us if you have questions about the Voluntary Compliance Program or if you need assistance.  We’re also available to provide training or speak at events such as seminars, webinars, or phone/video conferences.   

Subscribe to annual reminders and notices by emailing:  NYSVCU@osc.state.ny.us.  Provide the industry deadlines that apply to your company