Illinois’ I-Cash: What You Should Know

The I-Cash program seeks to reunite Illinois residents with their unclaimed property. This program is an initiative of the Illinois Treasurer’s Office, who is the custodian of any unclaimed property in the state. Unclaimed property can be anything from lost bank accounts, insurance policy proceeds, or forgotten safe deposit boxes—all of which is surrendered to the state if it cannot be returned to its owners after five years. 

According to the Illinois State Treasurer Michael Frerichs, thousands of items are surrendered each year. Consequently, Frerichs recommends checking the I-Cash database every six months. There is no cost to checking your information in the I-Cash system, and it is important to ensure you don’t have any unclaimed property under your name—especially considering that the State Treasurer is holding 2.9 billion dollars in unclaimed funds for Illinois residents. In addition, over the past two years, the Treasurer’s office has returned $101,719,784.67 in cash to individuals.

The State holds these funds until they are claimed by their original owner or their heirs with the proper documentation. Over the last two years $2,319,608.44 has been returned to the rightful owners living in the 51st District. Out of this sum, the largest claim returned to a resident of the 51st District was $300,000.

While some may be weary of using the online database due to the recent surge in identity fraud and online scams, residents can rest assured this is a secure system and an official program in the State of Illinois created to help Illinoisans,” said Miller Walsh. The Representative tried the online I-Cash system out at her Senior Fair last month, and was surprised to find that she too had unclaimed property under her name. 

“I want to make residents aware that you could have money being held by the State and not even know it. It’s worth taking a few minutes to check out.” 

The Representative encourages all area residents to search the I-Cash database for unclaimed property. To find out if you have unclaimed property, and learn how to claim it click here. Should you have any questions about I-Cash, or if you need help navigating the online database, you can also contact Representative Miller Walsh’s District Office at (847) 984-2485.

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