527 Chiropractic Offices Have Unclaimed Funds

The State Treasurer is holding more than $3.5 billion in unclaimed funds for Illinoisans. The Treasurer’s unclaimed property list includes 527 businesses that include “chiropractic,” or “chiropractor,” or “chiro” in their names, and that total does not include additional physicians whose unclaimed property appears in their individual names. 

The State holds these lost funds until they are claimed by the owner and will return the property at no cost with the proper identification.  The State Treasurer has provided an easily searchable list for unclaimed property, so it’s worth taking a look to see if you or your business entity have funds to claim.  The search link may be found here.

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What is Unclaimed Property and What is its Source?

Unclaimed property consists of accounts and other funds that are due to the owner but for various reasons have gone dormant.  By law, these funds are eventually transferred to the State Treasurer’s Office, where they appear on the unclaimed property page. 

For chiropractic offices, many of these funds consist of uncollected insurance payments, but a number of other sources also appear on the list.  For example, a utility may owe a credit to the customer on the closing of an account, but if the utility does not have updated contact information, the credit becomes dormant and eventually is transferred to the State to hold for the customer.

How Do I Claim Property on the List?

Once you have searched the list and identified an entry as your property, there is a box marked “Claim” for each entry.  (See link here) The list will tell you if the amount is greater than or less than $100, as well as who reported the unclaimed property (usually) and the type of property.  If you click on “Claim,” the system will then guide you through completion of your claim.  If it is approved, the State Treasurer will send you the funds. 

For general information about the Unclaimed Property program, see the Treasurer’s website here.