State Representatives Steve Reick, R-Woodstock, and Joe Sosnowski, R-Rockford, hosted an I-Cash event at the Marengo-Union Library District today with the Illinois State Treasurer’s Office to help McHenry County residents with filing a claim for money or property owed to them in custody of the state.
The State Treasurer’s Office is holding more than 3.5 billion dollars in unclaimed funds for Illinoisans. The State holds these lost funds until they are claimed by either the original owner or their heirs. Property is returned at no cost with the proper identification.
Common types of unclaimed property include: checking and savings accounts, uncashed wage and payroll checks, uncashed stock dividends and stock certificates, insurance payments, utility deposits, customer deposits, accounts payable, credit balances, refund checks, money orders, traveler’s checks, mineral proceeds, court deposits, uncashed death benefit checks and life insurance proceeds.
Illinois residents can search the state’s Unclaimed Property database online and file a claim at any time by visiting illinoistreasurer.gov/icash. The event in Marengo was offered to help local residents who may have questions or who prefer to have assistance with filing their claim.
Unclaimed property laws began in the United States as a consumer protection program and have evolved to protect not only the owners, but their heirs and estates as well. Once property is in the custody of the state and its unclaimed property program, the state maintains custody of the property in perpetuity until the rightful owner or heirs come forward to claim. Since 2015, the State Treasurer’s Office has returned more than $1.3 billion in assets to Illinois residents.