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States have established processes whereby legal owners of assets can reclaim unclaimed funds. When claiming unclaimed funds that have risen in value, taxes may be assessed at the time. If you claim property, it will be treated as ordinary income and taxed accordingly unless the property is related to a tax refund.
Once property is in the custody of the state and its unclaimed property program, the state will maintain custody of the property in perpetuity until the rightful owner or heirs come forward to claim.
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. Illinois is a custodial state and will hold these assets indefinitely for the owner or legal heir.
States have established processes whereby legal owners of assets can reclaim unclaimed funds. When claiming unclaimed funds that have risen in value, taxes may be assessed at the time. If you claim property, it will be treated as ordinary income and taxed accordingly unless the property is related to a tax refund.
Unclaimed Property Page. The State Treasurer is holding more than 3.5 billion dollars in unclaimed funds for Illinoisans. The State holds these lost funds until they are claimed by either the original owner or their heirs. Property is returned at no cost with the proper identification.

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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.
The State Treasurer is responsible for returning Missouri's Unclaimed Property to rightful owners. Each year financial institutions, businesses, government agencies, and other organizations turn over millions of dollars in cash and the contents of safe deposit boxes to the Treasurer's Office.
Unclaimed property is not taxed while it is filed as unclaimed; however, when it is reclaimed, the property may be officially recognized as taxable income.
In Illinois, property is assumed abandoned when it remains unclaimed for at least five (5) years and attempts to contact the owner of the property have been unsuccessful.
Unclaimed property is property that already belongs to you. The State was simply safeguarding it until it could be returned to you. Therefore, unclaimed property is not actually income so it is not taxable.