Searchers who visit the website can expect to find information about unclaimed money, including the owner's name, physical address, amount unclaimed, the financial institution that reported the unclaimed funds, and the type of unclaimed funds. The Illinois State Treasurer's Office maintains an official searchable database of unclaimed money. ![]() As of December 2021, the Illinois State Treasurer's Office reports over 3.5 billion dollars worth of unclaimed property and unclaimed money, waiting for the rightful owners to submit a claim. These holders will assume temporary, non-owner custody of the unclaimed funds in perpetuity until a person submits a valid claim. State laws compel these financial institutions to turn over custody of the financial assets to the treasurer or an authorized private holder. If there is no response, the financial institution will attempt to contact the individual's relatives. When this happens, the financial institution with original custody of the money will reach out to the owner via the list means of communication, typically email, mail, or phone call. It is not unusual for Illinois residents to forget about these financial assets or intentionally ignore them for a long time. ![]() Illinois enacted the Uniform Unclaimed Property Act directing financial institutions to transfer the custody of unclaimed money to the State Treasurer's Office after a dormancy period. Unclaimed money can include account balances, stocks, bonds, insurance policies, dividends, refunds, and public benefits. Unclaimed money refers to assets that have remained untouched for a specific period of time and are repossessed by the government or authorized private holders.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |