Property finders must disclose fees and free direct claims

The Treasurer pays interest on allowed claims for certain unclaimed money. This applies to allowed claims for property, funds, or money delivered under the two categories listed in subsection (a) of section 3-57a. The rate for each calendar year or part of a year must be at least that year's deposit index. Interest runs from the date the Treasurer receives the property, funds, or money until it is paid or delivered to the claimant.

The Treasurer keeps owners’ identifying details in its records exempt from public disclosure. This covers identifying information about owners in the Treasurer’s records, including information from holder reports and records that are not on the searchable list. The Treasurer and agents may share the information to administer the unclaimed-property law, including with other government officials, when they use appropriate confidentiality protections. The exemption applies to personal information in the Treasurer’s records; no separate start or end date is stated.

People who help locate unclaimed property must disclose key terms, and the Treasurer may withhold payment when requirements are not met. These rules cover agreements and solicitations to locate unclaimed property, and claims filed with the Treasurer through them. Agreements made on or after January 1, 2025, must be written and signed by the owner and clearly disclose the property's nature and value, the owner's share after fees, and how to file a free claim directly with the Treasurer. Solicitations must disclose the free claim option and how to file. An agreement with a fee above 10 percent is invalid. The Treasurer may withhold payment to someone other than the owner if required documents are missing or the agreement or solicitation fails other requirements. Agreements made on or after January 1, 2025, must include the written disclosures. Agreements made on or after January 1, 2023, face the two-year timing limits and 10 percent fee cap.