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?
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.