Illinois returns nearly $300 million in unclaimed cash

SPRINGFIELD, Ill., (KBSI) — The Illinois State Treasurer’s Office returned nearly $299 million in missing money to its rightful owners in 2024, setting a new record.

Illinois State Treasurer Michael Frerichs announced that the state’s missing money program, I-CASH, processed 331,032 claims last year, with an average claim amount of $902.

The program returned $260.6 million in cash and $38 million in securities, bringing the total amount returned since Frerichs took office to over $2.2 billion.

“I-CASH is one of the state’s oldest consumer protection initiatives,” Frerichs said. “We’ve made it easier to file a claim and streamlined the system with the help of state lawmakers.”

The State Treasurer’s Office has implemented several reforms, including electronic claims, eliminating red tape for small-money claims, and leveraging technology to make payments without requiring a claim.

As a result, the number of claims paid annually has increased significantly, from approximately 25,000 in 2003 to over 300,000 today.

The office also launched a Spanish-language website and added a “Friends and Family” share feature to help individuals claim missing money.

Illinois holds more than $5 billion in unclaimed property, and the state treasurer is legally required to return it to its owners or heirs, no matter how long it takes.