IL has more than $3.5B in unclaimed property and some could be yours. Here’s how to check

Meredith Howard
·2 min read

Even with the pinch of inflation, Illinoisans may be leaving money on the table. The Office of the Illinois State Treasurer reports there is more than $3.5 billion worth of unclaimed property across the state, and the agency has returned more than $1 billion in cash and value of returned items since 2015.

The state’s unclaimed property program, I-Cash, set a new record by returning $280 million to Illinois residents from July 1, 2021, to June 30.

The $280 million covered 362,352 claims throughout the state, and there are more than 1 million unclaimed properties in the metro-east, according to the office of Illinois State Treasurer Michael Frerichs.

Unclaimed property refers to money or accounts within financial institutions or companies where there has been no activity in several years, the office says. It includes forgotten bank accounts, unpaid life insurance benefits, safe deposit box contents and more.

Those owed include not only individuals, but businesses as well.

Here’s the number of claims paid in Illinois from fiscal years 2003 to 2022.
Here’s the number of claims paid in Illinois from fiscal years 2003 to 2022.

“An estimated one-in-four adults in Illinois who search the I-Cash website find unclaimed property, with an average claim of $1,000,” the state treasurer’s office said in an Aug. 8 statement.

How much unclaimed property is there in southwest Illinois?

Here’s a breakdown of unclaimed properties in the metro-east, by county. The numbers are current as of late April and are the most recently available data from the state treasurer’s office:

  • St. Clair County: 446,969 unclaimed properties totaling $60,254,890.71 in cash value

  • Madison County: 410,128 unclaimed properties totaling $60,853,155.20

  • Monroe County: 37,440 unclaimed properties totaling $4,192,967.08

  • Macoupin County: 56,464 unclaimed properties totaling $7,751,859.81

  • Jersey County: 22,637 unclaimed properties totaling $3,240,581.06

  • Clinton County: 32,718 unclaimed properties totaling $2,623,018.32

  • Calhoun County: 4,729 unclaimed properties totaling $408,479.69

  • Bond County: 17,570 unclaimed properties totaling $1,745,302.27

The city of Belleville has at least nine unclaimed properties recorded in the database for which it is the sole owner or payee, not counting one unclaimed property each for the city’s police and fire departments.

Companies that have reported unclaimed property owed to the city include the Bank of America, Johnson Controls Inc. and Papa John’s.

How can you find out if you’re owed in Illinois?

You can search online to find out if you’re owed in the state. All you need is a first and last name, a business name and/or location information to search for unclaimed property.

If you’re entitled to property recorded in the state database, you can claim it online.

To search for unclaimed property in other states, you can use Find My Funds.