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Can we remit abandoned property to the Illinois State Treasurer by a wire transfer or ACH debit? We usually send a check through FedEx but are wondering whether there is a more efficient way to do this. – IBA Compliance Connection

IBA Compliance Connection

Your go to source for compliance!

Can we remit abandoned property to the Illinois State Treasurer by a wire transfer or ACH debit? We usually send a check through FedEx but are wondering whether there is a more efficient way to do this.

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Yes, the Illinois Treasurer will accept payment by ACH. Their website instructs property holders to email requests for ACH instructions to UP_Report@Illinoistreasurer.gov with your fax number so that they can fax instructions to your bank. Additionally, the Treasurer’s office provide a portal that also processes ACH debit payments.

We believe that the Treasurer’s office wishes to make it as easy as possible to pay electronically. Please contact us if you encounter any issues with electronic payments, and we will pass on any concerns to the Treasurer’s office.

For resources related to our guidance, please see:

  • Illinois Treasurer, Reporting Guidelines (“Report Remittance Information:

    Remittances may be made via check or ACH Credit. To receive Illinois’ ACH instructions, email your request to UP_Report@Illinoistreasurer.gov. Please supply your fax number and the instructions will be faxed to you.

    Checks should be made out to Illinois State Treasurer.”)