Money from inactive savings and checking accounts Some examples of unclaimed property currently held by the treasurer’s office include the following: In the past, the I-Cash program returned about $80 million annually to owners. It’s common for people to lose track of their assets when they move or when loved ones pass away. Businesses and banks are required to turn over unclaimed accounts to the treasurer’s office. The total for 2011 was $101,679,655, a 23 percent increase over the previous year.
Treasurer.il.gov icash plus#
The Unclaimed Property Division has more than $1.6 billion in cash, plus contents from Illinois safe deposit boxes that have been inactive for at least five years. During Rutherford’s first year in office, the program marked the first time in history that the treasurer’s office returned more than $100 million to the people who owned those assets.
The I-Cash program helps reunite owners with their unclaimed property. The treasurer’s Unclaimed Property Division’s costs, including staff, computers and travel, are paid for through the Unclaimed Property Trust Fund, and not by tax dollars. “I’m pleased to see another large check go out to an individual because it was his property, and now he can use it to further stimulate the economy.” “That check was the largest in the history of the treasurer’s office’s Unclaimed Property Division,” said Rutherford. In late September, Rutherford delivered an $8.1 million check to Tenneco, Inc.
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