SPRINGFIELD, Ill. — The Illinois state treasurer returned a record-breaking $301 million to over 300,000 residents through the state’s missing money program during fiscal year 2024.
“Putting money back in people’s pockets helps families and our state’s economy,” State Treasurer Michael Frerichs said in a press release. “This money belongs with its rightful owners, and we have added tools to return more of it.”
Through the program, known as I-CASH, the treasurer's office returns unclaimed property to its rightful owner, including the contents of overlooked safe deposit boxes, unpaid life insurance benefits, forgotten bank accounts and unused rebate cards. The state treasurer is legally required to return unclaimed property to its owner or heirs.
This year, the treasurer released a Spanish missing money website. The site works the same way as its English counterpart. People enter a name and city or ZIP code into the search box, and if there’s a match, they can start filing a claim online.
When the treasurer's office safe deposit boxes fill up, unclaimed items go up for auction after 10 years of private and public attempts to locate the owner or heirs. The next live unclaimed property auction will be on Saturday, Aug. 17 at 11 a.m. at the Lincoln Stage at the Illinois State Fair, with a preview of items starting at 9 a.m. All auction proceeds are held in perpetuity for the rightful owners.
The Illinois State Treasurer’s Office recommends that people check the I-CASH website at least twice each year to see if missing money is waiting for them.