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* Wow…
Last week, our office returned the largest PayPal account to date, resulting in $121,000 returned to the owner through the Unclaimed Property program. More than 340,000 PayPal accounts remain to be claimed. Find your lost account at https://t.co/uXQqcXH85K #unclaimedmoney #twill
— Treasurer Michael Frerichs (@ILTreasurer) July 11, 2023
OK, now please click here and then tell us if you or a loved one has any unclaimed property.
…Adding… The treasurer’s office monitored comments today…
Rich,
Thanks for posting. Every bit helps get the word out about the Unclaimed Property program. We continue to try to make it easier, such as…
We have worked with the General Assembly to change the law and the rules to make it easier to claim your money. Today, if you are claiming your money and no item is $5,000 or more, we use an automated process to review the claim. The majority of people will receive an email indicating that the claim was approved and to expect a check. Very few people need to send paperwork.
In the fiscal year that just ended, we paid more than 200,000 claims. Roughly 150,000 of those were paid with no paper from the owner, or about 75 percent of the time. The owner either simply completed the online claim form or we matched them with records and mailed them a check without requiring a claim. To put that in perspective, in FY2003 (the first year the Treasurer’s Office had computerized records) there were a total of 25,000 claims paid. In FY2015, there were roughly 60,000 claims paid.
A few folks mentioned that they don’t bother with small dollar amounts. If they have two minutes, they really should fill out the online form. About 90 percent of the items turned over to the Treasurer’s Office as unclaimed property are $100 or less. And we have been working very hard to make it much easier to claim these funds.
Now if you are claiming money as an heir, it is a bit more complicated (families can be complicated). We try to make sure we are paying the right person – after all, the only thing worse than not paying someone quickly is paying someone who is not legally entitled to the money.
But, with the help of the General Assembly, we now have a more streamlined process for heir claims under $250. Basically, you complete and mail in a notarized affidavit that you are one of the legal heirs and you list the other heirs. You agree to distribute the money to the other heirs. That’s it.
Finally, we recently added a “share” function. You can look up your friends and family. If you find something that belongs to them, there is now an integrated way to send them an email or a text with a link so that they can claim their money.
One-party claims are the easiest. Claims involving the death of a family member, unfortunately, will require additional work depending on the circumstances. At the end of the day, accuracy and efficiency always will be our focus.
posted by Rich Miller
Thursday, Jul 13, 23 @ 12:30 pm
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My Godmother passed away about 6 years ago and I was her only heir. The website says she has a small amount unclaimed (only about $50). I had so many hoops to jump through it wasn’t worth my time to file a claim that small.
Comment by Stones Thursday, Jul 13, 23 @ 12:40 pm
Yes. I was surprised. I have unclaimed property from when I lived in Chicago 7 years ago. Thanks for sharing, Rich.
Comment by wildcat12 Thursday, Jul 13, 23 @ 12:48 pm
I check once a year. I use my yearly tax filing as a reminder to also check in on this site. Haven’t had anything show up in a few years now. Years back there was an old land-line phone deposit back from when I was in my 20s. Back when the phone company was called “Ameritech”, one of the original companies from the breakup of the Bell system.
I also searched for my mothers maiden name and found a life insurance policy my long since passed maternal grandfather never told anyone about. Lots of work to collect that, including notaries and various certifications. But the payout was quite large.
Comment by TheInvisibleMan Thursday, Jul 13, 23 @ 12:48 pm
I have two, both from State Farm, both premium refunds. From 2018.
I find this so annoying because I’ve been a State Farm client for more than 30 years. They keep sending me premium notices and have no trouble finding me to get payments. But their refund people can’t seem to track me down? It’s almost like they aren’t even trying to actually refund the money to me.
So now Frerichs will be sending me a paper form to continue the effort to collect what State Farm owes me. I don’t see how they can’t simply reduce future premiums by an equal amount, but that is probably too efficient for the bean counters in Bloomington.
Comment by 47th Ward Thursday, Jul 13, 23 @ 12:55 pm
Wow, I have three, all in my name at my current address. All less than $100; all seem to involve health insurance payouts/uncashed checks. Thanks for bringing this to our attention, Rich…
Comment by stateandlake Thursday, Jul 13, 23 @ 1:12 pm
Some years ago I was able to help my mother claim a substantial sum from her mother’s pension benefits. I really appreciate that our state does this, and especially appreciate the over/under $100 distinction, which makes it easier to decide whether to bother.
Comment by KSDinCU Thursday, Jul 13, 23 @ 1:18 pm
There was unclaimed insurance proceeds due to my father in laws death. When FIL died my husband had provided his siblings the information and paperwork to claim these benefits. We were unaware that that they failed to follow through. My husband had to claim the money (with great effort and time) as he was executor so he could forward the benefit to his siblings (he had claimed his share timely).
Comment by illinifan Thursday, Jul 13, 23 @ 1:25 pm
Had a few over the years. Deceased relatives accounts. One of my own from the tollway system. Great service provided by the Treasurer’s office.
Comment by Papa2008 Thursday, Jul 13, 23 @ 1:28 pm
I found one years ago for myself (small), but found several for friends recently. Mostly utility deposit refunds.
Comment by Jibba Thursday, Jul 13, 23 @ 1:29 pm
I’ve checked previously. Brother-in-law has something like $30 sitting there. I told him about it; he says it isn’t worth the paperwork hassle to get it.
Comment by RNUG Thursday, Jul 13, 23 @ 1:31 pm
Quick check now turned up a few dollars for a distant cousin.
Comment by RNUG Thursday, Jul 13, 23 @ 1:36 pm
Never found myself a penny, but found friends and neighbors varying amounts, one for $8,000 of an heir of a life insurance policy. Don’t forget to have your social and religious orgs check as well.
Comment by thisjustinagain Thursday, Jul 13, 23 @ 1:38 pm
Just checked and found one - a less than $100 refund from an overpayment on a medical procedure in 2017. I’ve done business with that company for years and my address hasn’t changed in thirty five years so I don’t think anyone tried very hard to get my refund to me. I appreciate this service and I started the process to claim.
Comment by Rachel Thursday, Jul 13, 23 @ 1:45 pm
Nothing for me. I claimed something a few months back. But there are several for brothers of my grandfather, all of which have been dead for 40 or more years.
Comment by Demoralized Thursday, Jul 13, 23 @ 1:49 pm
I found three small amounts, all less than $100. Two were health insurance reimbursements and one was from my property insurance company. They all occurred about the time I sold my old home and moved. Not sure why they didn’t to me as I was careful to update my address.
Comment by Manchester Thursday, Jul 13, 23 @ 1:57 pm
Found several four digit checks for bars and restaurants during 2020 on that. To their credit Treasurer’s staff were actually quite proactive about helping find them and asked me to connect them with the business owners.
Found a good friend a stock grant on their old site that had appreciated into nearly six figures a little over 10 years ago. That was a fun conversation.
Comment by ChicagoBars Thursday, Jul 13, 23 @ 1:58 pm
If you want a grim chuckle enter “City of Chicago” in that unclaimed funds search there are hundreds, with many over $100.
Filing the claims would be a good summer project for a junior City lawyer and an intern or three imho.
Comment by ChicagoBars Thursday, Jul 13, 23 @ 2:01 pm
Thanks, Rich. From Behr paints - under $100. “Check is in the mail” Not sure where I will invest it - a six pack or a bottle of bourbon, depending on the size.
Comment by Uptown Progressive Thursday, Jul 13, 23 @ 2:01 pm
If you want to know the exact amount and gauge whether or not its worth the hassle. Click though and act as if you are going to submit a claim, then they email you the docs to finalize everything, on that doc is the exact amount you’re due. There’s a couple from my deceased parent that are NOT worth the hoops.
Comment by PMS Thursday, Jul 13, 23 @ 2:05 pm
We have had 3 or 4 small amounts, all less than $100. In one case, it involved a few shares of common stock where the company consistently sent dividend checks to me but somehow couldn’t find me when it went private.
Comment by Retired SURS Employee Thursday, Jul 13, 23 @ 2:06 pm
I found two for my deceased(2011) Mother. Waiting to see the amounts to see if it worthwhile
Comment by Pyrman Thursday, Jul 13, 23 @ 2:14 pm
I cleaned up for my entire family about 10 years ago. 5 page spreadsheet of all the claims. Close to $100k when all was done. (Have a neglectful close relative.) Lots of time collecting death certificates and completing affidavits. Office was very helpful.
Comment by Original Rambler Thursday, Jul 13, 23 @ 2:15 pm
Hooray(Banned punctuation) The jerks at Comcast finally escheated the refund they would not give us at the time of my mother’s death.
Thanks for the heads up that prompted me to check.
Comment by Sangamon Girl Thursday, Jul 13, 23 @ 2:19 pm
Hello Rich - Thank you for making this a post today!! My office is currently in the process of helping a constituent claim $278,000!
Comment by Senator Seth Lewis Thursday, Jul 13, 23 @ 2:34 pm
I had a small amount. In honor of the blog I will donate it to the Illinois Freedom Caucus in the name of Oswego Willie.
Comment by Franklin Thursday, Jul 13, 23 @ 2:34 pm
$500 from a departed great aunt’s account-looks like maybe stock dividends to an address for a home sold in the 1950s. To get it is a tremendous hassle. Can’t prove that the address was hers at this point. I would need all five cousins to sign off - they are all over the USA - produce death certificates for dad and uncle, etc. And if I do all the leg work, it’s split 5 ways any way. I wish I could just sign an affidavit or something.
Comment by HLV Thursday, Jul 13, 23 @ 2:57 pm
Numerous State agencies and entities have funds belonging to them held there, as well. If you want to be entertained type State in for the name and Springfield for the city. It seems the Treasurer’s office is even holding unclaimed funds for…themselves.
Comment by Cubs Win Thursday, Jul 13, 23 @ 3:14 pm
====I had so many hoops to jump through it wasn’t worth my time to file a claim that small.====
Same here. I have about 10 bucks coming back from Sprint. I have known about it for years but haven’t bothered to fill out the paperwork. But I am glad I checked again. My wife has a new one and it’s for over $100 and it says its a cashier check from our bank. So that one should be easy to claim.
Comment by Been There Thursday, Jul 13, 23 @ 3:29 pm
===I had so many hoops to jump through it wasn’t worth my time===
Click the link and try now. They’ve streamlined the process.
Comment by Rich Miller Thursday, Jul 13, 23 @ 3:30 pm
Zip…didn’t win the lottery either…bummer.
Comment by Dotnonymous x Thursday, Jul 13, 23 @ 3:50 pm
None for me, but a small amount for a nephew. I’m sending the info to him as I’m sure he’ll be thrilled to know. Thanks much for posting.
Comment by Cromulent M. Biggens Thursday, Jul 13, 23 @ 8:15 pm
I had something and found a bunch for friends and family.
Also was playing around and searched for my school district. Turns out there is something there so I sent an email to the superintendent. One was for over $100! Every little bit counts.
JS Mill—you should double check for your school district.
Comment by M Thursday, Jul 13, 23 @ 9:14 pm
If they haven’t yet, your readers may also want to check the Missing Money site that the Illinois treasurer’s website linked. The Missing Money site claims to be “the only website endorsed by States and Provinces working together to reunite you with your lost funds.” I found many small items there due to several family members linked to out-of-state addresses.
Comment by Cromulent M. Biggens Friday, Jul 14, 23 @ 6:08 am