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Unclaimed Property Dormancy Periods Property TypeDormancy Period (years)CommentsDeposit or refund owed by a utility1Year after the deposit or refund becomes payable.All other property3Years after the owner first has a right to demand the property or the obligation to pay or distribute the property arises.10 more rows • Apr 3, 2018

The general rule is that after a 3-year dormancy period the unclaimed property must be reported and remitted to the state. Some property types have different dormancy periods. For example, the dormancy period for payroll is one year.

Typically, all claims are reviewed in the date order received by our office. Processing time prior to receiving either your first communication or payment may be up to 12 weeks, dependent on the number of claims submitted to our office during the time frame your claim was received.

Remittances may be made via Wire, ACH Credit, our online payment portal or by paper check. To receive Illinois' Wire and ACH Instructions, please email your request to UP_Report@Illinoistreasurer.gov. Checks should be made out to Illinois State Treasurer.

Generally, if the property in question has not had any activity within a certain period of time, e.g., three years for most properties, and the holder is unable to locate the property owner, it is considered abandoned and must be reported to the Unclaimed Property Division of the State Treasurer's Office.

Each unclaimed property claim requires a minimum of a completed and signed claim form, a copy of photo identification and social security number. To determine the specific requirements of your claim, please review the email sent to you. The items required will be listed on the claim form attachment.

Holders of unclaimed property must perform due diligence to show that they attempted to find the rightful owner of unclaimed property. For any balance greater than $50, written notice must be sent to the owners last known address 60 days to 1 year before the unclaimed property report is filed.

Typically, all claims are reviewed in the date order received by our office. Processing time prior to receiving either your first communication or payment may be up to 12 weeks, dependent on the number of claims submitted to our office during the time frame your claim was received.