•October 21, 2015•

Illinois Treasurer Michael Frerichs today announced a partnership between the state’s I-Cash program and the Illinois Retail Merchants Association (IRMA) to facilitate the return of recovered cash and assets to retailers.

The Illinois Treasurer’s Office has identified nearly 1,000 companies with $25,000 or more in unclaimed property, totaling more than $80 million. Among these, IRMA has helped identify 63 companies from the retail industry with nearly $4.2 million in property to claim. Through this new partnership, the Illinois Treasurer’s I-Cash program is teaming with IRMA to encourage retailers to initiate their claims and assist in the process.

As part of the Illinois Treasurer’s Unclaimed Property Division, the I-Cash program connects state residents and businesses with their unclaimed money and other assets. The Unclaimed Property Division recovers hundreds of thousands of properties each year from government agencies, banks, insurers, utilities, and other companies across the country that have been unable to return the properties to their rightful owners. The I-Cash program then works to notify owners and reunite them with their money and other property. Last year, the I-Cash program reunited individuals, businesses and others with $163 million in cash and property.

“Working with IRMA will help us return money and property to their rightful owners faster,” Frerichs said. “Illinois retailers and other businesses have tens of millions of dollars waiting to be claimed, and we’re eager to get this money back into their hands, and back into the economy.”     Login or Subscribe to read the rest of this story.