Statutes, codes, and regulations
New York Codes, Rules and Regulations
Title 2 - DEPARTMENT OF AUDIT AND CONTROLChapter IV - Miscellaneous Rules
Part 123 - Forms And Procedures For The Reporting And Payment Of Abandoned Property
Section 123.7 - Delivery of securities

N.Y. Comp. Codes R. & Regs. tit. 2 § 123.7

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Current through Register Vol. 46, No. 50, December 11, 2024
Section 123.7 - Delivery of securities

All reported positions must be delivered at the time the abandoned property reports are filed. It is recommended that, where possible the delivery of abandoned securities to the State Comptroller be made by means of book entries via the Depository Trust Company (DTC). The following instructions relate to the reporting of abandoned securities whether the report is in an electronic format or on paper form AC 2686, Report of Abandoned Property, for securities physically delivered to the Office of Unclaimed Funds, transmitted via DTC to the Office of Unclaimed Funds' broker, or transferred to an account registered to the State Comptroller.

(a) DTC wire transfer.
(1) All regular securities information must be completed.
(2) Place the letter "D" in the method of transfer field.
(3) In addition to the regular security information all DTC wire transfers must contain additional delivery instructions. For the additional delivery instructions please call the Office of Unclaimed Funds at (800) 221-9311 in New York State, outside New York (518) 270-2200.
(4) Send all DTC wire notices with your abandoned property report.
(b) Physical delivery of securities.
(1) All required securities information must be completed.
(2) Place the letter "P" in the method of transfer field.
(3) The securities, Report of Abandoned Property, and payments must be addressed to New York State Comptroller, Office of Unclaimed Funds, 110 State Street, Albany, NY 12236-0001. Registered or certified mail is recommended.
(c) Account/journal transfer.
(1) All required securities information must be completed.
(2) Place a letter "A" in the method of transfer field.
(3) A copy of an account statement which confirms the transfer of shares into the Comptroller's Account should accompany the remittance and abandoned property report.
(d) Undeliverable positions.
(1) The Office of Unclaimed Funds should be contacted prior to using the letter "T" as a method of transfer.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 123.7