Latest news with #UnclaimedProperty
Yahoo
26-02-2025
- Business
- Yahoo
$22 million returned to Illinoisans in January 2025 from Unclaimed Property program
SPRINGFIELD, Ill. (WCIA) — Illinois State Treasurer Michael Frerichs announced Tuesday more than $22 million was returned to nearly 19,000 people in January through I-CASH, his office's missing money program. 'Returning this money to the rightful owners is better than keeping it in our bank vaults,' Frerichs said. 'It helps our state's economy when people have a little more money in their pockets to spend at local businesses.' A look into the Illinois' unclaimed property vaults, and how the treasurer is trying to return it all I-CASH collects uncashed rebate checks, unpaid life insurance claims, forgotten checking accounts and the contents of overlooked safe deposit boxes from Illinois companies and banks after they lay dormant for a few years. The treasurer's office is legally required to hold onto unclaimed money and property until it's returned to its owner or heirs. Frerichs is also proud to announce National Unclaimed Property Day was a success, as he said his office saw more than triple the number of claims initiated during that week. While his office usually averages 11,000 claims in a week, his office saw a whopping 38,389 claims initiated between Jan. 27 and Feb. 2 — a record. WCIA 3 Illinois State Treasurer's Office ICASH Telethon The treasurer recommends everyone to check his website multiple times a year. Frerichs has boasted his office's achievements with the unclaimed program, with over $2.2 billion of unclaimed property returned during his tenure as treasurer. Nearly $300 million was returned to more than 330,000 claimants last year. The treasurer has also implemented several reforms for the Unclaimed Property program, including a ICASH website in Spanish and enabling users to send potential unclaimed property to their friends and families. He has worked with the Illinois General Assembly to create the Enhanced Money Match program to return money automatically without filing a claim. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
15-02-2025
- Business
- Yahoo
How to claim your unclaimed property checks
FAYETTEVILLE, Ark. (KNWA/KFTA) — A bill passed in the Arkansas legislature allows Auditor of State Dennis Milligan to automatically mail unclaimed property checks. Senate Bill 14 aims to return Arkansans' unclaimed money without having to file a claim through a process known as 'data match initiative.' This allows audit offices to send checks to those with unclaimed funds between $50 to $5,000. The auditor's office has more than $400 million in unclaimed Arkansan property and funds. 'This is a government efficiency bill that will cut red tape and bureaucracy and will help my office get citizens their unclaimed money more effectively,' said Milligan. 'Once fully implemented, this data match initiative will allow us to return several million dollars back into Arkansans' hands where it rightfully belongs. It's just the right thing to do.' Arkansas bill would allow the use of nitrogen gas in executions The initiative has identified 360,000 properties valued over $83 million, and the office plans to process all of these returns. When owners unclaimed or abandoned assets cannot be immediately matched, it is remitted to the Auditor of State's office where it sits before the Unclaimed Property's division, which works to connect the property to its owner through the Great Arkansas Treasure Hunt program. 'As eager as I am to reconnect citizens with their unclaimed property, implementing the data match program will take time. Once we begin each batch, we will notify the owners via postal mail that we intend to mail them a check,' Milligan said. Gov. Sarah Huckabee Sanders announces Arkansas ACCESS higher education reform legislation This process will only apply to individual claims. Since January 2023, Milligan and his administration returned over $70 million to citizens through the Great Arkansas Treasure Hunt. You can check for unclaimed property and collect a claim for a deceased relative or business here. For more information, click here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
