IBA Compliance Connection

Your go to source for compliance!

We have a policy of not allowing customers to store firearms in safe deposit boxes, and a customer recently questioned this policy. Does Illinois law require us to store firearms in safe deposit boxes?

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No, we are unaware of any Illinois law requiring financial institutions to store firearms in safe deposit boxes, and we believe you may prohibit the storage of firearms by policy and the terms of your safe deposit box account agreement.

Additionally, the Illinois Firearm Concealed Carry Act allows private property owners to prohibit firearms on their premises by posting a sign at the entrance of the building, premises, or real property that is clear and conspicuous. A template for the sign, which may be no smaller than four by six inches, is included in the resources below.

For resources related to our guidance, please see:

  • Firearm Concealed Carry Act, 430 ILCS 66/65 (a-10) (“The owner of private real property of any type may prohibit the carrying of concealed firearms on the property under his or her control. The owner must post a sign in accordance with subsection (d) of this Section indicating that firearms are prohibited on the property, unless the property is a private residence.”)
  • Firearm Concealed Carry Act, 430 ILCS 55/65(d) (“Signs stating that the carrying of firearms is prohibited shall be clearly and conspicuously posted at the entrance of a building, premises, or real property specified in this Section as a prohibited area, unless the building or premises is a private residence. Signs shall be of a uniform design as established by the Department and shall be 4 inches by 6 inches in size. The Department shall adopt rules for standardized signs to be used under this subsection.”)
  • Firearm Concealed Carry Act, 430 ILCS 55/65 (“‘Concealed firearm’ means a loaded or unloaded handgun carried on or about a person completely or mostly concealed from view of the public or on or about a person within a vehicle.”)
  • Firearm Concealed Carry Act Procedures, 20 Ill. Adm. Code 1231.150 (“Section 65 of the Act specifies areas where concealed carry of firearms is prohibited and requires posting of those areas.

(a) A template for signs required pursuant to Section 65(d) of the Act is provided in Appendix A and is available on the Department's website.

(b) Owners of prohibited areas may utilize signage larger in size than the template provided, at their discretion. If prohibited areas use a larger sign, the template provided shall be reproduced somewhere on the larger sign no smaller than the 4″ x 6″ dimension required by the Act.

(c) Prohibited areas may include additional language on their signs.  If prohibited areas include additional language, the template provided shall be reproduced somewhere on the larger sign no smaller than the 4″ x 6″ dimension required by the Act.

(d) The required signs shall be clearly and conspicuously posted at the entrance of the building, premises or real property. The sign shall provide persons entering the property notice that they are entering a prohibited area in which, pursuant to the Act, they shall not carry a concealed firearm.”)