CPAs and CPA firms providing unclaimed property compliance services may now file claims with the Illinois treasurer’s office on behalf of their respective business clients. Previously, finders of unclaimed property were required to have a private detective license to file such claims.

 

The Illinois treasurer’s office adopted amendments to the Revised Uniform Unclaimed Property Act (50 Ill Reg 778) to implement Public Acts 103-977 & 104-116 which provide an exemption from licensure for CPAs and CPA firms to provide recovery services to business clients effective Dec. 30, 2025. CPA firms assisting non individual owners are exempt from finder licensing, though CPAs must register at no cost.

 

CPAs and CPA firms who provide recovery services must register with the Illinois State Treasurer’s Unclaimed Property Division.

 

The Illinois CPA Society worked closely with Illinois State Treasurer Michael Frerichs in passing legislation to eliminate the legacy requirement for CPAs to have a private detective license to serve as finders and perform recovery services.