![]() ![]() Users can typically search for unclaimed money through third-party search sites using just a full name or business name. Third-party unclaimed money search engines are easy to use and deliver fast results not limited by geographic region. Unclaimed money in the United States is public and can be accessed by anyone through official or non-governmental services. Persons who prefer to submit a claim another way, either mail claim or phone claim, may contact the State Treasurer's Office on (800) 961-8303 or send an email to the government agency via Note that the State Treasurer's Office only attends to phone calls during regular business hours, and emails are also best sent during business hours. Besides seeing information about unclaimed money, this platform also lets interested members of the public submit a claim and upload the necessary documentation in support of a claim. Searchers who visit the website can expect to find information about unclaimed money, including the owner's name, physical address, amount unclaimed, the financial institution that reported the unclaimed funds, and the type of unclaimed funds. The Illinois State Treasurer's Office maintains an official searchable database of unclaimed money. As of December 2021, the Illinois State Treasurer's Office reports over 3.5 billion dollars worth of unclaimed property and unclaimed money, waiting for the rightful owners to submit a claim. These holders will assume temporary, non-owner custody of the unclaimed funds in perpetuity until a person submits a valid claim. State laws compel these financial institutions to turn over custody of the financial assets to the treasurer or an authorized private holder. If there is no response, the financial institution will attempt to contact the individual's relatives. When this happens, the financial institution with original custody of the money will reach out to the owner via the list means of communication, typically email, mail, or phone call. It is not unusual for Illinois residents to forget about these financial assets or intentionally ignore them for a long time. Illinois enacted the Uniform Unclaimed Property Act directing financial institutions to transfer the custody of unclaimed money to the State Treasurer's Office after a dormancy period. Unclaimed money can include account balances, stocks, bonds, insurance policies, dividends, refunds, and public benefits. Here is a small sampling of the hundreds of thousands unclaimed property returns made by the Treasurer's Office in 2021: a Chicago-area woman received $4.4 million from an estate claim a southern Illinois woman received $140,000 from a life insurance policy Ernest Ulrich, an Army veteran from Chicago, left $2.1 million to be split between The Salvation Army, Little Brothers Friends of the Elderly, The Chicago Lighthouse for People Who Are Blind, Goodwill Industries of Metro Chicago and Shriners Hospitals for Children a Catholic school in Rockford received more than $2,100 $12,000 returned to condo association in Rogers Park in Chicago and a Metro East library received over $3,000.Unclaimed money refers to assets that have remained untouched for a specific period of time and are repossessed by the government or authorized private holders. The number of successful claims for unclaimed property per year has more than tripled. The $1.3 billion milestone was possible because Frerichs prioritized changes in technology, efficiency and state law to streamline the unclaimed property process. Since 2015, $1.3 billion in unclaimed property has been returned, the most that has been returned in the program's 60-year history. "It is your money and should be returned to you."Īn estimated one-in-four people in Illinois find unclaimed property and the average claim is $1,000. "States are required to return unclaimed property to its owner no matter how long it takes," Kathleen Lobell, director of Louisiana Unclaimed Property, and president of National Association of Unclaimed Property Administrators (NAUPA) said. 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. 1, you can check our website today at /ICASH and find out if you or someone you know has cash or property to claim." "We know when we get money back in the hands of residents, it does more good for our economy than sitting in a bank," Frerichs said. 1, states across the country will celebrate National Unclaimed Property Day to raise awareness and encourage people to check if they have cash or property owed to them, Illinois Treasurer Michael Frerichs said.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |