Maybe we have something that belongs to you. Unclaimed property is submitted twice each year financial institutions in the fall and non-financial institutions, such as business associations, utilities, and life insurance companies, in the spring. Typically, a bank account, investment product or contents of a safe deposit box is turned over to the Illinois treasurer’s office if there is no activity for three-to-five years. We continue to safeguard $3.5 billion in unclaimed property. Importantly, we fought for reforms that require insurance companies to be more vigilant in locating life insurance beneficiaries. Also, we worked with legislators to allow the treasurer’s office to send unclaimed property checks directly to qualifying individuals without the need to initiate a claim. I remember being told it would take awhile to process. After only getting delivery occasionally I cancelled delivery and requested a refund.

Years ago we subscribed to the Sunday only Pantagraph. Incredibly, leveraging technology and streamlining the process has allowed us to nearly triple the number of processed claims annually, from 60,000 to 174,000. The State Treasurer is holding more than 3.5 billion dollars in unclaimed funds for Illinoisans. Illinois Treasurer Michael Frerichs needs new authority to fine any business that sends your money to the State instead of refunding it directly to you. These advancements allowed us to return nearly $1.2 billion during the past five years. I-Cash is one of the state’s oldest consumer protection initiatives.Ĭommon-sense improvements to the unclaimed property program make this effort quicker, easier, and more efficient. The state treasurer is required to return the money no matter how long it takes. States around the country will celebrate by encouraging people to search and find unclaimed cash and property that belongs to them. The unclaimed property program, often referred to as I-Cash, safeguards unclaimed property such as unpaid life insurance benefits, forgotten bank accounts and unused rebate cards until it can be returned to its owner. CHICAGO (WLS) - Tuesday is National Unclaimed Property Day. We successfully returned $226 million in lost and misplaced money to an estimated 174,000 people last year despite an economy struggling under the weight and fear of a global pandemic. Staff from the Illinois State Treasurer’s Office assisting local residents with filing a claim.The following was a message shared from the office of Illinois State Treasurer Michael Frerichs: Since 2015, the State Treasurer’s Office has returned more than $1.3 billion in assets to Illinois residents. Once property is in the custody of the state and its unclaimed property program, the state maintains custody of the property in perpetuity until the rightful owner or heirs come forward to claim. Delivery Service: Illinois State Treasurer’s Office. Mail Via USPS to: Illinois State Treasurer’s Office. Checks should be made out to Illinois State Treasurer. Unclaimed property laws began in the United States as a consumer protection program and have evolved to protect not only the owners, but their heirs and estates as well. To receive Illinois Wire and ACH Instructions, please email your request to.

The event in Marengo was offered to help local residents who may have questions or who prefer to have assistance with filing their claim. Illinois residents can search the state’s Unclaimed Property database online and file a claim at any time by visiting /icash. All you have to do to find out if the state is holding your windfall is visit /ICASH. Property is returned at no cost with the proper identification.Ĭommon types of unclaimed property include: checking and savings accounts, uncashed wage and payroll checks, uncashed stock dividends and stock certificates, insurance payments, utility deposits, customer deposits, accounts payable, credit balances, refund checks, money orders, traveler’s checks, mineral proceeds, court deposits, uncashed death benefit checks and life insurance proceeds. The Illinois Treasurer’s I-Cash Program helps tens of thousands of people each year discover and claim old bank accounts, uncashed paychecks, unpaid insurance benefits and other unclaimed property. The State holds these lost funds until they are claimed by either the original owner or their heirs. The State Treasurer’s Office is holding more than 3.5 billion dollars in unclaimed funds for Illinoisans.

State Representatives Steve Reick, R-Woodstock, and Joe Sosnowski, R-Rockford, hosted an I-Cash event at the Marengo-Union Library District today with the Illinois State Treasurer’s Office to help McHenry County residents with filing a claim for money or property owed to them in custody of the state.

Icash il treasurer