Nearly 140,000 people in Illinois are in for a pleasant surprise as they have unclaimed property checks waiting for them, according to a recent press release by Illinois State Treasurer Michael Frerichs. This is a record-breaking amount, with a total of $13.2 million set to be distributed to these individuals through the state’s Unclaimed Property program.
The Treasurer’s Office has been working tirelessly to reunite people with their unclaimed property, and the latest round of the “Enhanced Money Match” program is a testament to their efforts. This program allows the office to automatically return money to individuals without them having to file a claim. This not only saves time and effort for the owners but also ensures that they receive their rightful property.
The majority of the checks in this round are between $50 and $100, which may seem like a small amount, but it can make a significant difference in someone’s life. As Treasurer Frerichs stated, “Returning this money to its rightful owners will help make life a little bit easier for people. At a time when we are all dealing with higher prices, it can pay for a couple bags of groceries or maybe a fill-up or two at the pump.”
So, how does Illinois’ missing money program work? The state’s “Enhanced Money Match” program crossmatches data from various sources with the State Treasurer’s unclaimed property database. The office then matches and confirms names and mailing addresses and sends a letter to the unclaimed property owner, informing them of the amount and source of their unclaimed money.
After a quick final review, a check is issued to the owner, which they can expect to receive in the mail a few weeks after receiving the letter from the Treasurer’s Office. It is essential to deposit the check promptly to avoid any further delay or complications.
It is worth noting that this program is specifically designed for cash owed to a single person. It does not include cash owned by multiple parties, such as joint holdings of a parent and minor child, shares of stocks and bonds, escrow accounts, and the contents of bank safe deposit boxes.
The “Enhanced Money Match” program is part of the office’s larger “Unclaimed Property” program, also known as I-Cash. Currently, Illinois holds over $5 billion in unclaimed property, and the Treasurer’s Office is committed to returning it to its rightful owners or heirs, no matter how long it takes.
If you are wondering if you have unclaimed money in Illinois, there are two ways to check. The first is by visiting the state’s searchable I-Cash database, which contains information on unclaimed property for individuals, properties, and businesses. The second option is to visit the Comptroller’s website, which also has records of almost 150,000 uncashed checks worth over $50 million.
The Treasurer’s Office and the Comptroller’s Office are working together to ensure that all unclaimed property is returned to its rightful owners. They understand the importance of this money and the impact it can have on people’s lives. So, if you have unclaimed property in Illinois, make sure to check the databases and claim what is rightfully yours.
In conclusion, the “Enhanced Money Match” program is a great initiative by the Illinois State Treasurer’s Office to reunite people with their unclaimed property. It not only saves time and effort for the owners but also helps them in these challenging times. So, if you have unclaimed property in Illinois, make sure to check the databases and claim what is rightfully yours. Remember, the Treasurer’s Office is legally obligated to return unclaimed property to its rightful owners, no matter how long it takes.
