In 2020, Frerichs announced $1 billion in unclaimed property had been returned to Illinois taxpayers during his tenure, the most that has been returned in any five-year period in the program’s 58-year history. This year’s push will also take place online, featuring digital ads on social media, to help raise awareness and encourage others to check to find out if they have cash or property waiting to be claimed.Īn estimated one-in-four people in Illinois have unclaimed property and the average claim is $1,000. State law requires the Treasurer’s Office to publish newspaper ads in all 102 Illinois counties every six months and send letters to residents who have unclaimed property. Illinois State Treasurer Michael Frerichs said, “Connecting people with their lost cash and keepsakes is one of the most fulfilling parts of my job.” Frerichs added, “Some of our greatest returns are unclaimed cash to put a new roof on someone’s home, jewelry from a grandparent that had put it away in a safe deposit box, or a purple heart medal that a Veteran thought they would never see again.”Īs part of an annual advertising and direct mail push, Frerichs is highlighting Illinois residents who have been reunited with their unclaimed property. The cash and property items include lost bank accounts, insurance policy proceeds, unused rebate cards, vintage coins, military medals, and special keepsakes. State Treasurer Michael Frerichs is launching “Illinois’ Greatest Returns” series to highlight unique and valuable items returned by the Illinois Unclaimed Property Program to Illinois residents during the past five decades.
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