Join now!   |   Subscribe   |   Pay an Invoice   |   Sign In
News & Press: State Legislative and Regulatory News

New York reduces voluntary compliance program lookback period

Thursday, February 9, 2017   (0 Comments)
Posted by: Emily DuToit
Share |


New York reduced the look-back period used in voluntary compliance program to 10 years. It was previously 20 years.


The reduced reach-back period applies only to the voluntary compliance program—not to audits. Companies participating in the voluntary compliance program before Jan. 1, 2017, also fall under the previous reach-back period. However, if a holder joined the program near the end of 2016 and identifies issues related to the reach-back period, New York’s Voluntary Compliance Unit will review the circumstances and work with them on a case-by-case basis, according to Kelly Kuracina, assistant bureau director for New York’s Office of Unclaimed Funds.


Holders are eligible to apply for the program if they have not been contacted about an audit in New York and would be first-time reporters or recently identified a property type that hasn’t been reported.


Questions? Contact the Voluntary Compliance Unit at

Membership Software Powered by YourMembership  ::  Legal