Revised Uniform Unclaimed Property Act--CPAs and Recovery Services
January 23, 2026
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.
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.
