Illinois treasurer urges state residents to check for unclaimed property

ROCKFORD – Illinois residents could get some extra cash from the state ahead of the holidays.

State Treasurer Michael Frerichs said Illinois residents can check the office’s unclaimed property database. I-Cash, the state’s unclaimed property division, has paid claims valued at more than $160 million this year, with its largest claim valued at just over $1.3 million.

The state treasurer said one in four people who check the I-Cash database find property. Businesses, non-profits and units of local government can also have property to claim.

The Illinois treasurer’s office is the custodian on unclaimed property, including lost bank accounts, insurance policy proceeds and forgotten deposit safe boxes. Items are surrendered after private entities tried for at least 5 years to locate the owners. Because of the thousands of items surrendered each year, residents should check the I-Cash website every 6 months.

Source: http://www.america.easybranches.com/illinois/Illinois-treasurer-urges-state-residents-to-check-for-unclaimed-property-445672

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