• Annual notification to Banks 04/2025
• Annual notification related to Consumer Credit Balances 04/2025
• Annual notification to Corporations 04/2025
• Annual notification to Courts 05/2025
• Annual notification to Insurance Companies 05/2025
• Annual notification to Utility Companies 08/2025
• Annual notification to Sales Finance Companies and Insurance Premium Finance Agencies 11/2025
• Coverage for Virtual Currency APL Section 1319

Coverage for Virtual Currency APL Section 1319

Effective November 22, 2022, legislation was enacted to amend New York State’s Abandoned Property Law (APL), adding Section 1319 Unclaimed Virtual Currency.  

• Virtual currency is defined in 23 NYCRR Section 200.2(p).
• Unclaimed units of virtual currency (coins) is subject to a five-year dormancy period (which begins on November 22, 2022 for the first report for this new type of property). Unclaimed balances in virtual currency wallets (fiat) continue to be subject to a three-year dormancy period with a December 31^st cut-off period and report due date of March 10^th under Section 1315.
• Holder due diligence, by mailing notices to the owners of record, is required under APL Section 1422.
• Identify unclaimed virtual currency using June 30^th as the cut-off date, and report and deliver unclaimed virtual currency by the following November 10^th.

Contact [email protected] for specific instructions to deliver unclaimed virtual currency.