A record $301 million in missing money was returned to Illinois residents during Fiscal Year 2024, Illinois State Treasurer Michael Frerichs announced Monday, citing a specific program for the record numbers.
Through I-CASH, the state's missing money program - 321,558 residents owners or heirs received unclaimed property, such as contents of overlooked safe deposit boxes, unpaid life insurance benefits, forgotten bank accounts and unused rebate cards, Frerichs said in a news release.
The success was largely due to the Enhanced Money Match program, which allows the Treasurer’s Office
to automatically return money to individuals without the need to file a claim, according to a news release. Up to $5,000 can be returned to their rightful owners or heirs without filing a claim.
Here's how it works:
"The Enhanced Money Match program leverages data already collected by the state and crossmatches it with the
Treasurer’s unclaimed property database," the office stated. "When a name and mailing address are matched, identified, and confirmed, the unclaimed property owner receives a letter from the Treasurer’s Office that describes the amount and source of the money."
After an unspecified additional security check is finished, a check is issued to the owner.
Want to see if you have unclaimed property?
Local
Individuals looking to see if they have any unclaimed property can conduct a search using the Treasurer office's iCash database here.
More information on unclaimed property in Illinois can be found here.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly Chicago Catch-Up newsletter.
