State Treasurer Dan Rutherford Announces Big I-Cash Returns in July
SPRINGFIELD – Aug. 6, 2014 – Illinois State Treasurer Dan Rutherford released I-Cash numbers that show the program returned 43 percent more money to rightful owners in July of 2014 versus July of 2013. I-Cash is the unclaimed property program of the Illinois State Treasurer’s Office and has more than $2.1 billion in cash, plus contents from Illinois safe deposit boxes that have been inactive for at least five years. The cash comes from inactive bank accounts, utility deposits, insurance policies, paychecks and more. “By returning more than $16 million in July alone, and nearly $87.5 million already this calendar year, I-Cash is putting more money in people’s wallets,” said Treasurer Rutherford. Thus far the office has approved 39,248 claims in 2014.
“Every year during my administration we have broken I-Cash records, and we are on target to return more money in 2014 than any other year in the history of the treasurer’s office,” explained Treasurer Rutherford.
Checking the I-Cash website often is key to finding unclaimed cash or assets. The database is updated every Sunday morning with hundreds of thousands of newly-reported properties added each year. “I check the database regularly,” said Treasurer Rutherford “and found property one week after entering my name and finding nothing.”
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.
The Unclaimed Property Division has more than $2.1 billion in cash, plus contents from Illinois safe deposit boxes that have been inactive for at least five years. The cash comes from inactive bank accounts, utility deposits, insurance policies, paychecks and more. During 2013, the program returned more than $139 million in cash and other assets to their rightful owners, representing a 69 percent increase over 2010. Treasurer Rutherford took office in January 2011.
Please visit the Illinois State Treasurer’s website at www.treasurer.il.gov and click on the I-Cash link to search for unclaimed property.