The Office of the Illinois Treasurer holds these lost funds until they are claimed by either the original owner, heirs, or legal representatives. What happens to unclaimed funds in Illinois? Bank accounts become unclaimed after 7 years if the account is inactive (no deposits or withdrawals). It is available to be claimed at any time by the rightful owner and there is no time limit on claims. It is the duty of the Treasury Officer to scrutinize and examine every item of receipts and payment shown in the daily accounts and point out and watch against all irregularities in the same way as those at the district treasury. What are the duties of a Treasury officer? The Treasury Inspector General for Tax Administration (TIGTA).The Financial Crimes Enforcement Network (FinCEN).The Bureau of Engraving & Printing (BEP).The Alcohol and Tobacco Tax and Trade Bureau (TTB).What agencies fall under the Department of Treasury? If you have completed a search for unclaimed money and found money held in a deceased person(s) name, you can make a claim for money that you are legally entitled to. Can I claim someone else unclaimed money? The treasurer is responsible for maintaining the state funds and acting as the state’s bank. The Treasurer of the State of Illinois is the chief financial officer of the government of Illinois. Illinois is a custodial state and will hold these assets indefinitely for the owner or legal heir. In the narratives below, the property remained unclaimed for well over five years, so the property was turned over to the Treasurer’s Office for safekeeping until the owner can be identified. How long does Illinois hold unclaimed property? How Long Does It Take To Get Unclaimed Money? How Long Does It Take To Receive Unclaimed Money Across the Country? State How long does it take to get unclaimed money in Illinois?
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