March 11, 2010
Search for Unclaimed Funds in Illinois – Part 2 of 2
(Part 2 of 2)
Even though there are quite a few more, Illinois lists the following as the most common sources of missing money: unpaid wages or commissions, abandoned savings and checking accounts, bonds, stock, un-cashed dividends, mutual funds, credit balances, customer deposits or overpayments, safe deposit box contents, money orders, refunds, paid-up life insurance policies, travelers checks. People who have had or know someone who may have had one of these accounts at some point in the past is encouraged to search frequently.
The Illinois State Treasury has returned more than 432 million dollars since it took over the unclaimed funds program in 1999, 84 million dollars of which was returned in 2006 alone, but with $1.4 Billion waiting to be claimed and more coming in all the time, the mountain of cash will keep on growing.
Due to the fact that money is always being added to the fund, it is important to check regularly, not just once. Money belonging to you could be added tomorrow, or next week, or next month, or depending on the type of asset in five years if that is the proper dormancy period. Each type of asset has its own dormancy period within each state, after which state laws require the holder to turn it over to the state who will then hold on to it until the true owner steps forward to claim it.
Additionally, residents of Illinois may be owed unclaimed funds in other states even if they have never lived in or even set foot in them. Items like insurance overpayments when an employer uses an out of state insurance company can cause found money to wind up in other states. Also, issues often come up corporations are incorporated in another state.
The bottom line is that the state of Illinois is currently holding a massive amount of cash that is owed to its residents who simply need to learn the right ways to search, where to search, and how often to search. Learning these search methods from locators with years of experience in this field can give you a boost in your abilities to track down your money.
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Vt. has $1.7 million in unclaimed tax refunds (Boston Globe)
The Internal Revenue Service says 2,200 Vermonters are eligible to share $1.7 million in unclaimed federal tax refunds.
Millions in IRS refunds unclaimed – Tulsa World
Oklahoma taxpayers who are due the refunds must file the claim by April 15 or, by law, the refund is forfeited. Nationwide, unclaimed refunds totaling more than $1 … After that, the refund money becomes the property of the U.S. Treasury, the IRS …
Vermont taxpayers leave $1.7M in tax refunds unclaimed (The Burlington Free Press)
More than $1.7 million of unclaimed federal tax refunds are awaiting 2,200 Vermont taxpayers who failed to file a federal income tax return for 2006, according to the Internal Revenue Service.
Unclaimed Tax Refunds Headed for US Treasury – WBAY Green Bay
Thousands of people in Wisconsin who didn't file a tax return three years ago may have some money coming to them — but they need to act fast. The IRS says nationwide it has more than $1.3 billion in refund money for 1.4 million people who didn't …
I-Team: Attorneys generals suing federal government to … – KSDK
The money would end up in the unclaimed property fund and Missouri would collect interest on it, about $15 million to $16 million a year. In the meantime, Missouri has 14 employees who go about returning unclaimed property to citizens, twice the …





















