Thursday, October 19, 2017

State Treasurer Michael Frerichs Seeks to Reunite Vienna Residents with Unclaimed Property

Illinois State Treasurer Michael Frerichs’ staff will be at the Vienna Public Library in Vienna on Tuesday, March 28, to help reunite citizens with unclaimed property through the I-Cash program.

Frerichs’ staff frequently visits areas throughout the state to encourage individuals to search the I-Cash database for unclaimed property and to show the public that the program is legitimate and is not a scam. The treasurer’s office never charges money to reclaim cash or property.

“For most people, it is difficult to believe that they might have overlooked an investment account or forgot to pick up a final paycheck. However, the thousands of names in our database shows that it happens too often,” Frerichs said in a news release. “This money belongs to the residents of Illinois. It should be in their bank accounts rather than the state’s safe.”

The event will be from 2 p.m. – 5 p.m. on March 28 at the Vienna Public Library, 401 Poplar St., Vienna.

Businesses, non-profits and units of local government also can have unclaimed property to claim from the database. Typically, the value submitted to the treasurer’s office does not reflect an oversight by these leaders. Additionally, each could have unclaimed property it is required to submit to the treasurer’s office annually. This is accomplished through “holder” reports that are available on the treasurer’s website.

The Illinois treasurer’s office is the custodian of unclaimed property including lost bank accounts, insurance policy proceeds, and forgotten safe deposit boxes. Items are surrendered after private entities tried for at least five years to locate the owners. Because thousands of items are surrendered each year, residents should check I-Cash every six months. Visit www.illinoistreasurer.gov/ICASH or call 217.785.6998.

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