A record $301 million in missing money was returned to Illinois residents in 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 resident owners or heirs received unclaimed property, such as the contents of overlooked safes, unpaid life insurance benefits, forgotten bank accounts and unused discount cards, Frerichs said in a news release.
The success was largely due to the Enhanced Money Match program, which enables the treasurer’s office
to automatically return money to individuals without having to file a claim, according to a press release. Up to $5,000 can be returned to its 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 cross-matches it with
Treasurer’s database of unclaimed properties,” the office stated. “Once a name and mailing address is matched, identified and confirmed, the unclaimed property owner receives a letter from the treasurer’s office detailing the amount and source of the money.”
After an unspecified additional security check is completed, a check is issued to the owner.
Want to see if you have unclaimed property?
Individuals who wish to see if they have any property that has not been received can make a search using the treasurer’s office iCash database here.
More information on unclaimed property in Illinois can be found here.