FAQs (Illinois Unclaimed Property) (Visit this site) updated

Illinois Unclaimed Property Frequently Asked Questions (FAQs)

What is unclaimed property?

Why does unclaimed property come to our office?

Who holds property?

How can I prevent my financial assets from being turned over to the state?

How does the Illinois State Treasurer locate the owners?

Where does unclaimed property go?

What will happen to the contents of my safe deposit box if I fail to pay my annual safe deposit box fees?

What about real estate, boats and cars?

Why can’t I find some of the unclaimed funds on the Internet?

What should I do if I think I may have unclaimed funds?

Is there a time limit for claiming funds?

Why should I provide my social security number?

Must a claimant pay a fee to get his or her money back?

Should an owner hire a fee finder or heir finder?

Where can I find a notary public?

How long will it take to receive my funds?

Is the information I send you protected?

Who must file unclaimed property reports and when should they file?

What is reportable property?

How does property become "abandoned"?

When is property considered abandoned?

Who administers the law?

How should remittance checks and securities (stocks & mutual funds) be made out?

Should a holder report and remit unclaimed property to other states?

Do Retirement accounts qualify as unclaimed property?

What is the aggregate amount for Illinois?

Do holders have to hold property for the full abandonment period?

What is Due Diligence?

Is there a minimum amount that shouldn't be reported?

What is the Business To Business Exemption?

Can I get the UPD601 reporting form on the internet?

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Added: Fri Jul 28 2006
Last Modified: Mon Jan 09 2012

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