For 2021, the decade long event is going virtual.
From Mar. 1-7 people can take the plunge any way they choose, from jumping in the snow to running through a sprinkler.
The event raises money for Special Olympics Chicago/Special Children's Charities.
More than 50 team members from First Midwest Bank decided to have a snowball fight Sunday and raised $30,000.
RELATED: Thousands turn out for 20th annual Chicago Polar Plunge
On Sunday Mar. 7 at 5 p.m., there will be a Virtual Meltdown Party where videos of plunges will be played and prizes will be handed out.
There are many prizes for those who register, in addition to the annual costume contest and an award for most creative plunge.
Last year's event raised more than $2.2 million.