Illinois Treasurer Michael Frerichs encouraged all residents Tuesday to check for any property or cash owned to them on National Unclaimed Property Day.
“We know when we get money back in the hands of residents, it does more good for our economy than sitting in a bank,” Frerichs said in a release.
Unclaimed property refers to money or accounts with no activity for several years within financial institutions or companies in which the legal owner has not responded to prior inquiries, the treasury office reminded.
Here's how to search and claim:
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To search for unclaimed property, you can enter a last name or business name in the search box here. Once all properties you wish to claim are selected, hit "Continue To File Claim" and add your information, along with your relationship to each property.
The treasurer added that you could be asked to provide proof of your relationship to the property in order to validate your right to claim.
If you already have a claim ID in Illinois, click here to check its status.
For a step-by-step tutorial from the treasurer's office, click here.
According to a release, an estimated one-in-four Illinois residents find unclaimed property, with an average claim worth $1,000. Since 2015, $1.3 billion in unclaimed property has been returned to residents.
Unclaimed property is reported twice a year, the treasury office said. So, residents are encouraged to check the database every six months.