Illinois Unclaimed Property Finder Application

Unclaimed property finders —whether a business, or individual, or CPA firm — are now required to obtain a license through the Illinois State Treasurer’s Office. On this page, you’ll find all the forms needed to complete the licensing process.

How to Apply for an Unclaimed Property Finder License

All unclaimed property finders operating in Illinois must now apply for licensure through the Illinois State Treasurer’s Office.

  • Individuals acting as finders must complete the individual application
  • Businesses acting as finders must submit the business application.
  • CPA firms must also complete a registration form.

Instructions

For your application to be processed, all required supporting documentation must be submitted with the application and required fee paid unless otherwise directed in writing from the Administrator.

Before completing the application package, read each of the 7 steps below then follow the instructions as they apply to you. This will aid you in accurately completing your application and reduce any delay in processing. The application which you submit is valid for 90 days from the date of receipt.

If you are issued a license, please be advised your license will expire three years from issuance. You must be at least 21 years of age to apply. Application fees ($500) are not refundable. Completion of this application is consent for the Illinois State Treasurer to conduct a criminal background check.

  1. Complete Application Category Information in Part I. Application must be typed. Handwritten applications will not be accepted.
  2. Complete Identifying Information in Part II
    • All information requested is required.
    • Do not use Post Office Box for your mailing address
    • For each individual holding 10% or more Corporate Stock:
      • All requested information is required.
      • By completing this application, you consent to the Illinois State Treasurer’s Office performing background check on each individual
      • Note the number associated with each individual. This is the individual applicant number you will reference in Parts IV and V.
  3. Complete Record of Licensure in Part III
    • List all professional licenses held for your business
    • List all professional licenses held for each individual listed in Part II
    • List the license status for each license, including if the license is expired or in a suspended status
    • Some examples of professional licenses include, but are not limited to:
      • Attorney
      • Certified Public Accountant
      • Private Detective/Private Investigator
      • Certified Financial Planner
      • FINRA Licenses
  4. Answer each question in parts IV and V for each person identified in Part II. Note their applicant number.
  5. The individual completing the form shall sign, under oath, on behalf of the business. Failure to sign the application will result in the denial of the application.
  6. Pay the $500 application fee. Link to the payment portal can be found here. Note: application fee not required for CPA registrations
  7. Submit the completed application, all accompanying documentation, and proof of payment to: Licensing@IllinoisTreasurer.gov.
    • Color copy of all applicant’s government issued IDs
    • Proof of Fidelity Bond
    • Please allow up to 90 days for processing
View Instructions PDF

Licensure Application for Businesses

This application is for businesses acting as or seeking licensure as unclaimed property finders. State law requires that any individual who owns more than 10% of stock in an unclaimed property finder business must complete the application and undergo a background check.

Complete Application

Licensure Application for Individuals

This application is for individuals acting as or seeking licensure as unclaimed property finders. Sole proprietors finding property on behalf of clients must receive a license to operate within the State of Illinois.  

Complete Application

CPA Firm Registration

This registration form is for CPA firms acting as unclaimed property finders. All CPA firms providing unclaimed property finding services must register with the Illinois State Treasurer’s Office to operate within the state.

Complete Registration Form

Frequently Asked Questions (FAQs)

Registration and Licensing

Do I need a license to act as a finder in Illinois?

Yes. Anyone who wants to act as a finder in Illinois must have a valid license issued by the State Treasurer.

What are the basic qualifications for getting a finder license?

Applicants must:

  • Be at least 21 years old (if applying as an individual)
  • Be of good moral character
  • Provide a valid mailing and email address
  • Pass a criminal background check
  • Demonstrate knowledge of the Revised Uniform Unclaimed Property Act
  • Provide personal identifiers (such as SSN, ITIN, or FEIN)
  • Provide required information for all owners with 10% or more interest (for businesses)

What documents and fees are required to apply?

Applicants must submit:

  • A completed electronic application form
  • A $500 non-refundable application fee
  • Authorization for a criminal background check
  • Required identifiers (SSN/ITIN/FEIN)
  • A fidelity bond (up to $100,000, amount set by the Treasurer)
  • If the background check costs more than $500, the applicant pays the excess cost.

Is a surety bond or fidelity bond required?

Yes. Every applicant must submit a $100,000 fidelity bond issued by an insurance or bonding company authorized to do business in Illinois.

Are attorneys or CPA firms required to obtain finder licenses?

Attorneys: No license is needed if the attorney has an attorney-client relationship with the claimant and is recovering specifically identified property.

CPA firms:

  • A licensed CPA firm does not need a finder license if it:
    • Registers with the Treasurer
    • Is in good standing with the Illinois Department of Financial and Professional Regulation
    • Represents a client that is not a natural person, and
    • Provides professional services related to unclaimed property reporting

Is there a limit on finder fees?

Yes. Finder agreements cannot provide compensation above 10% of the amount collected.

What must be included in a finder contract?

A valid finder contract must:

  • Clearly describe the property and services
  • Be signed by the owner or apparent owner
  • State the expected value of the property, before and after the fee
  • Explain that the property is held by the Treasurer and can be claimed without a fee
  • Provide contact information for claiming property directly from the Treasurer

When is a finder contract invalid?

Finder contracts are invalid if:

  • They exceed the 10% fee limit
  • They are entered into from the date the property is abandoned through 24 months after the Treasurer receives it
  • They assign rights to future property not yet owed
  • They violate any rule or provision of the Act
  • They contain other defects asserted by the Treasurer or the owner

Claim Submission

Can a list or database of unclaimed properties be requested or downloaded?

No. The database is exempt from disclosure per Article 14 of the Revised Uniform Unclaimed Property Act. Any requests for the database or property information will be denied.

How long does it take for a claim to be decided?

Once a claim is complete, the Treasurer must issue a decision within 90 days, unless extended for reasonable cause.

What makes a claim “complete?”

A claim is complete when all required documents have been submitted and entered into the unclaimed property system.

What forms of documentation might be required?

Depending on the situation, the Treasurer may require:

  • Original or replacement checks
  • Releases of interest
  • Court orders
  • Indemnification forms
  • Surety bonds
  • Identification documents

Can the finder be paid directly by the Treasurer?

Yes, but only if the finder contract explicitly states that the Treasurer may pay the finder directly.

Licensing Discipline & Enforcement

Can a license be denied, suspended, or revoked?

Yes. A license may be denied or revoked for reasons such as:

  • Fraud, misrepresentation, or concealment of facts
  • Insolvency
  • Dishonest or unethical conduct
  • Failure to comply with the Act or rules
  • Failure to satisfy judgments
  • Failure to respond to inquiries from the Treasurer
  • False or misleading advertising

What happens if someone acts as a finder without a license?

Acting as a finder without a valid license is considered a public nuisance. The State may seek:

  • Injunctions
  • Cease-and-desist orders
  • Civil penalties up to $10,000 per violation

Payment, Communication & Technology

What payment formats does the Treasurer use?

1. Application fees can be paid through our EPay portal at ######
2. All claims are paid via check, issued by the Illinois State Comptroller’s Office.

Does the Treasurer provide electronic claim submissions or online portals?

Claim documentation may be submitted electronically at icash.illinoistreasurer.gov.

Are electronic signatures accepted?

Electronic signatures may be allowed in some cases. However, written signatures are preferable to ensure there are no processing delays.

Are notarizations required for claims?

Notarizations may be required for some claims. This will be specified on the claim form.

Does the Treasurer provide bulk data, databases, or APIs?

No. The database is exempt from disclosure per Article 14 of the Revised Uniform Unclaimed Property Act. Any requests for the database or property information will be denied.

Is payment issued directly to the claimant, or may finder receive their share?

Finder may receive direct payment ONLY if the contract explicitly provides it.

Compliance & Claimant Protections

What protection exists for claimants?

Illinois law includes several protections:

  • A strict 10% fee cap
  • A 24-month waiting period banning finder contracts immediately after abandonment
  • Required transparency in finder contracts
  • Licensing requirements and background checks
  • Discipline for unethical or deceptive conduct
  • Prohibitions on false or misleading advertising

Are W-9s or tax forms required before payment?

Yes. Our office must validate a claims tax identification number prior to payment.

Oversight & Contact Information

Which agency oversees finder licensing and enforcement?

The Illinois State Treasurer administers all finder licensing, rulemaking, and enforcement functions.

Is there a dedicated webpage or public resource for finder licensing?

Please visit #####.