765 ILCS 1026/15-202
2021 Illinois Compiled Statutes|Chapter 765 - PROPERTY|765 ILCS 1026/ - Revised Uniform Unclaimed Property Act.|Title 15 - Revised Uniform Unclaimed Property Act

Sec. 15-202. When tax-deferred and tax-exempt retirement accounts presumed abandoned.(a) Subject to Section 15-210, property held in a pension account or retirement account that qualifies for tax deferral or tax exemption under the income-tax laws of the United States is presumed abandoned if it is unclaimed by the apparent owner after the later of:(1) 3 years after the following dates:(A) except as in subparagraph (B), the date a         communication sent by the holder by first-class United States mail to the apparent owner is returned to the holder undelivered by the United States Postal Service; or(B) if such communication is re-sent within 30         days after the date the first communication is returned undelivered, the date the second communication was returned undelivered by the United States Postal Service; or(2) the earlier of the following dates:(A) 3 years after the date the apparent owner         becomes 72 years of age, if determinable by the holder; or(B) one year after the date of mandatory         distribution following death if the Internal Revenue Code requires distribution to avoid a tax penalty and the holder:(i) receives confirmation of the death of the             apparent owner in the ordinary course of its business; or(ii) confirms the death of the apparent owner             under subsection (b).(b) If a holder in the ordinary course of its business receives notice or an indication of the death of an apparent owner and subsection (a)(2) applies, the holder shall attempt not later than 90 days after receipt of the notice or indication to confirm whether the apparent owner is deceased.(c) If the holder does not send communications to the apparent owner of an account described in subsection (a) by first-class United States mail on at least an annual basis, the holder shall attempt to confirm the apparent owner's interest in the property by sending the apparent owner an electronic-mail communication not later than 2 years after the apparent owner's last indication of interest in the property. However, the holder promptly shall attempt to contact the apparent owner by first-class United States mail if:(1) the holder does not have information needed to     send the apparent owner an electronic mail communication or the holder believes that the apparent owner's electronic mail address in the holder's records is not valid;(2) the holder receives notification that the     electronic-mail communication was not received; or(3) the apparent owner does not respond to the     electronic-mail communication within 30 days after the communication was sent.(d) If first-class United States mail sent under subsection (c) is returned to the holder undelivered by the United States Postal Service, the property is presumed abandoned 3 years after the later of:(1) except as in paragraph (2), the date a     communication to contact the apparent owner sent by first-class United States mail is returned to the holder undelivered;(2) if such communication is re-sent within 30 days     after the date the first communication is returned undelivered, the date the second communication was returned undelivered; or(3) the date established by subsection (a)(2).  (Source: P.A. 102-288, eff. 8-6-21.)