Today, Illinois is celebrating National Unclaimed Property Day to raise awareness and encourage people to check if they have cash or property owed to them.
The National Association of Unclaimed Property Administrators (NAUPA) launched the first National Unclaimed Property Day on February 1, 2021, to inform more people about unclaimed property.
An estimated one-in-four people in Illinois find unclaimed property and the average claim is $1,000. Since 2015, $1.3 billion in unclaimed property has been returned, the most that has been returned in the program’s 60-year history.
To find out if you have unclaimed property in Illinois, visit www.illinoistreasurer.gov/ICASH.
Unclaimed property refers to money or accounts within financial institutions or companies in which there has been no activity for several years and the legal owner has not responded to inquiries by the business. In Illinois, the state treasurer is tasked with safeguarding unclaimed property, such as unpaid life insurance benefits, forgotten bank accounts and unused rebate cards.
Because unclaimed property is reported to the treasurer’s office twice a year, it is recommended individuals check the database every six months.