Illinois State Treasurer Michael Frerichs Returns Record $308 Million to People, Businesses, Nonprofits in Fiscal Year 2026

Pair of $1 Million+ Returns Start Off New Fiscal Year Strong

Illinois State Treasurer Michael Frerichs returned a record $307.8 million in missing money to more than 567,000 residents, businesses and organizations through the I-CASH program during Fiscal Year 2026.

“Our changes to I-CASH allowed us to return more money to more people,” Frerichs said. “We are proud to set records, but we’re even more proud of helping folks. Reuniting people with money that rightfully belongs to them is even more important as inflation and decisions made by the Trump administration squeeze the average person and make food and gas harder to afford.”

I-CASH is one of Illinois’ oldest consumer protection initiatives. The Illinois State Treasurer’s Office is tasked with safeguarding and returning unclaimed property, including the contents of overlooked safe deposit boxes, unpaid life insurance benefits, forgotten bank accounts and unused rebate cards. The Illinois Treasurer is legally required to return unclaimed property to its owner or heirs, no matter how long it takes.

A key driver in the record number of people who got their missing money is the Enhanced Money Match program. A revamped process took the “claim” out of unclaimed property by automatically returning money without the need to file a claim after some information is electronically verified. Last summer, a record-breaking 400,000 people received $34 million in money they didn’t even know they had coming.

Most of the matched claims in that Enhanced Money Match round equaled $50 or less, though some people had multiple claims and their checks amounted to much more. Frerichs’ office founded the Enhanced Money Match program in 2018 and has since returned more than $130 million to more than 870,000 people.

The new fiscal year is off to a strong start. The Treasurer’s Office returned $1.37 million to a suburban Cook County woman through an estate claim, and $1.2 million in stock shares to a suburban Cook family who were heirs to a trust. In addition, last month Treasurer Frerichs presented Pope Leo XIV with an I-CASH claim form for $8.65 from an old PayPal account, an unclaimed property return that attracted international media attention.

The record-setting $307.8 million Treasurer Frerichs returned in missing money during FY2026 broke last year’s mark, when $303.8 million was returned to nearly 312,000 residents.

All told, Frerichs has returned more than $2.6 billion in missing money during his time in office. When Frerichs first became Treasurer, there were 60,000 claims paid a year. Today, more than 300,000 claims are paid during a normal year, owing in no small part to Frerichs’ complete restructuring of the missing money process. The State Treasurer’s Office added electronic claims and eliminated red tape that slowed small-money claims.

Frerichs also added a Friends and Family “share” feature. When visitors to the I-CASH website come across the name of someone they know, they can select the “share” icon and provide the email address of their friend or relative. Frerichs’ office will notify the individual by sending an email that mentions the missing money along with the name of the friend or relative who spotted it. Then, that individual can start the process of retrieving their missing money.

Treasurer Frerichs also has unveiled a Spanish-language missing money website. The site works the same way as its English-language counterpart. People enter a name and city or ZIP code into the search box, and if there’s a match, they can start filing a claim online.

Illinois is a national leader in the unclaimed property space and is frequently consulted by other states’ leaders who are seeking to reform their unclaimed property laws, rules, and procedures.

The Illinois State Treasurer’s Office recommends that people check at least twice each year at icash.illinoistreasurer.gov to see if missing money is waiting for you.

Media Contacts
Eric Krol 312.814.1252
Adriana Colindres 217.558.1920

About the Treasurer

The Illinois State Treasurer’s Office is a powerful economic engine that invests in people to drive prosperity, development and growth throughout the state. As State Treasurer, Michael Frerichs (FRAIR’iks) is the state’s Chief Investment and Banking Officer and actively manages approximately $60 billion. The investments help families pay for college and trade school; workers save for a dignified retirement; and local governments process bill payments more efficiently so they can pass along the savings to taxpayers. The office provides financial institutions with money to loan to farmers, small business owners, and qualified individuals at below-market rates because better jobs create stronger communities. The office operates the state’s largest consumer-protection initiative, the missing money I-Cash program, which has returned a record-breaking $2.6 billion since Frerichs was elected.

For more news about the State Treasurer’s Office, please sign up for our newsletter and follow Treasurer Frerichs on YouTube at @TreasurerMichaelFrerichs, Instagram at IL Treasurer, Threads @iltreasurer, LinkedIn and on Facebook at Invested in You – Treasurer Michael Frerichs.