ROCKFORD – – Illinois State Treasurer Dan Rutherford is encouraging Winnebago County residents to stop by his I-Cash kiosk at the Winnebago County Administration Building before June 14 to see if they have any unclaimed cash or property. “These kiosks are designed to help more people find their own money, and I thank Winnebago County Treasurer Sue Goral for letting me to place a kiosk here,” said Rutherford. “In Winnebago County, 110,759 owners have $21,704,013 in unclaimed property.”
This kiosk is up and running, and will be in the lobby of the Winnebago County Administration Building, 400 Elm Street, Rockford, until June 15, the due date for the first property tax installment. “This is the perfect opportunity for residents to search their names to see if they have money or other property in the database,” explained Goral. “Stop by my office and discover what’s yours.”
“People are thrilled to find out they have money just waiting for them through I-Cash,” says Rutherford. “I encourage area residents to come visit me at local I-Cash events for assistance in locating their money or property – plus everyone should make an attempt to review our online database monthly so they don’t miss out on money or valuable assets the state is holding for them.”
The recent rebranding and marketing campaign has dramatically increased the number of searches on the I-Cash (formerly Cash Dash) website and the number of claims filed. In the first month after the launch of I-Cash, the number of web visits increased by 140 percent (69,087 to 165,683), and the number of claims increased by 322 percent (7,506 to 31,703) as compared to the month before the switch to I-Cash.
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 I-Cash program helps reunite owners with their unclaimed property. The Unclaimed Property Division has $1.7 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 total returned for 2012 was $129 million, a 27 percent increase over the previous year. In past administrations, 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.
Some examples of unclaimed property currently held by the treasurer’s office include the following:
• Money from inactive savings and checking accounts
• Unpaid wages or commissions
• Stocks, bonds and mutual funds
• Money orders and bill overpayments
• Paid-up life insurance policies
• Safe deposit box contents.
To find out if you have unclaimed property through I-Cash, you can visit the treasurer’s website at www.treasurer.il.gov and follow the I-Cash link. The website is updated weekly to reflect new properties remitted to the office. Additionally, our I-Cash teams conduct regular outreach across the state, place twice-annual notices in newspapers and send direct mail to new single-owner claimants with property worth more than $100. You can contact the Unclaimed Property Division by calling 217-785-6998 or emailing info@Icash.Illinois.gov, although searches cannot be completed by telephone.