Upd 601 and upd 602 2025

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The document is an 'Unclaimed Property Annual Remittance Detail' form (UPD 602) used for reporting unclaimed property. It includes fields for holder information, owner details, cash amounts, property type codes, service charges, and remittance amounts. The form is structured to capture essential data related to unclaimed assets and their owners.

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Is Illinois unclaimed property legit?

Yes, is the official website for searching for unclaimed funds in Illinois. Most states have their own version of a site like this. Basically if someone who owes you money cant find you, they can send it to the state to get it off their books.

Is unclaimed property a trap?

0:10 1:15 Them unclaimed property laws vary by state but most require businesses to report abandoned assets toMoreThem unclaimed property laws vary by state but most require businesses to report abandoned assets to the state. The state then tries to locate the owner.

What is the self audit for unclaimed property in Illinois?

This Self-Audit will enable your company to identify any unclaimed property that is reportable to Illinois. To complete the Self-Audit, you will be redirected to a secure website hosted by our authorized third-party auditor, Kroll Government Solutions, LLC.

How long does Illinois unclaimed property take?

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.

Is unclaimed property a legit site?

The official unclaimed property division has existed for more than 40 years. Its totally legit.

What is the law on unclaimed property in Illinois?

Any for-profit and not-for-profit business entities that conduct business in Illinois are required to report unclaimed property on an annual basis. If you believe your firm is not holding unclaimed property, the state requires you to file a negative report.

What is Illinois unclaimed property?

Unclaimed property includes forgotten bank accounts, uncashed checks, insurance policies, stock dividends, and more.

How long does the state of Illinois hold unclaimed property?

Is there a deadline for making a claim? No. You can make a claim anytime since Unclaimed Property is kept in a custodial capacity until the rightful owner or heir has successfully claimed the property.

Upd 601 and upd 602 2025

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