Lake County Unclaimed Funds

The Illinois State Treasurer manages all unclaimed money for Lake County through the ICash database. Waukegan is the county seat, and the local Treasurer's office takes care of tax collection and county finances. Unclaimed property, though, is a state matter. With over $5 billion in lost funds held by the state, it is worth a quick search to see if any of it belongs to you or your family in Lake County.

Lake County Treasurer

The Lake County Treasurer's office handles local property tax collection and county fund management. Holly Kim oversees the office from Waukegan. While this office manages county finances, it does not run an unclaimed property program. All unclaimed funds for Lake County residents are held by the Illinois State Treasurer.

If you need help with property taxes, the Treasurer's office is the right place to call. But for unclaimed money, you should go straight to the state ICash system. The county office can point you in the right direction if you are not sure where to start.

The Lake County Treasurer's website shows office details and tax payment options for local residents.

Visit the Lake County Treasurer's page for more on local tax services.

Find Lost Money in Lake County

The Illinois ICash system at icash.illinoistreasurer.gov is where you search for unclaimed property in Lake County. The search takes less than a minute. Just type in your name and see what comes up.

Banks and businesses in Lake County send dormant accounts to the state each year. Under Illinois law, accounts with no contact for three to five years must be reported. Once the state has the money, it holds it until the rightful owner comes forward. There is no deadline to claim what is yours.

A few things to keep in mind when you search. The system pulls from all across Illinois, not just Lake County. So if you lived somewhere else before, your money might be listed under that old address. Try searching with different variations of your name. Also check for relatives, especially older family members who may not know about the system.

The national site at missingmoney.com covers other states too. It is worth a look if you have ever lived outside Illinois.

Types of Unclaimed Property

Unclaimed money in Lake County comes in many forms. The most common is a dormant bank account. When you leave money in a savings or checking account and stop using it, the bank will eventually report it to the state. But there are other types too.

Insurance companies sometimes owe money to people who never filed a claim or whose check went to the wrong address. Employers may have paychecks that went uncashed. Utility companies hold refunds and deposits that customers never picked up. Even the government can owe you money from a tax refund or other payment that got returned as undeliverable.

Stock dividends and mutual fund distributions are another source. If a brokerage firm loses contact with you, those payments pile up and eventually go to the state. Safe deposit box contents can also become unclaimed property if the box goes untouched for years.

The Illinois Money Match program tries to match owners with their money before they even search. The program has returned over $2 billion since it started. If the Treasurer can verify your identity through state records, they will send you a letter and then a check. It is that simple.

Claiming Your Property

When you find a match on ICash for Lake County, click the claim button to begin. The site guides you through each step. You will need to give some basic information and then send in documents to prove your identity.

Standard documents for a claim include:

• Driver's license or state-issued ID
• Proof of Social Security number (SS card, W-2, or Medicare card)
• Proof of old address if it differs from your current one
• Death certificate if claiming for a deceased person

Send your paperwork to the Illinois Treasurer by email at unclaimedproperty@illinoistreasurer.gov, through the online upload tool, or by mail to P.O. Box 19495, Springfield, IL 62794-9495. Claims under $2,000 do not need notarization. Claims above that amount do.

After the state gets everything, expect a review period of up to 90 days. You can check your claim status on the ICash site using your Claim ID. The whole process is free. The state never charges a fee to return unclaimed money to Lake County residents.

Lake County Uncashed Checks

Lake County stands out because it maintains its own list of uncashed checks. The Treasurer's office publishes a list of county-issued checks that have not been cashed by the payee. This is separate from the state ICash system. You can view this list and request a check reissue through the Lake County uncashed checks page.

In September 2024, Treasurer Holly Kim found over $1 million in state unclaimed funds belonging to Lake County government itself. Some of those checks dated back to 2013. This shows that even government agencies can have money sitting in the state database without knowing it.

The Lake County Treasurer's website at lakecountyil.gov/4923/Treasurer provides information on uncashed checks.

If your name shows up on the uncashed checks list, follow the steps on the site to get your check reissued.

Illinois Unclaimed Property Law

The Revised Uniform Unclaimed Property Act (765 ILCS 1026) sets the rules for unclaimed money in Illinois. The law was originally passed in 1961 and updated in 2017. It applies to all holders of unclaimed property in Lake County and across the state.

Under this law, banks, businesses, and government agencies must report and turn over dormant accounts after a set waiting period. Most property becomes reportable after three to five years of no contact with the owner. Holders who fail to report face examinations and potential penalties.

The law also regulates paid finders. Anyone who helps people locate unclaimed property for a fee must hold a license from the Treasurer. The maximum fee is 10% of the amount recovered. Finder contracts signed during the first 24 months after the state receives the property are not valid. Acting as an unlicensed finder can lead to civil penalties of up to $10,000 per violation.

Contact for Lake County

The Illinois State Treasurer handles all unclaimed property claims for Lake County. Call 800-961-8303 for help with a claim. You can email the unclaimed property office at unclaimedproperty@illinoistreasurer.gov. The mailing address for claims is P.O. Box 19495, Springfield, IL 62794-9495.

For local Lake County business, reach the Treasurer at (847) 377-2323. The office is at 18 N. County Street, Waukegan, IL 60085. The county website at lakecountyil.gov has more information about local services and tax payments.

Nearby Counties

These counties are near Lake County. Search for unclaimed money under old addresses in any of these areas if you have lived there before.