Nearly 140,000 people in Illinois have money in the form of an unclaimed property check waiting for them, Illinois State Treasurer Michael Frerichs said in a press release last week.
According to the release, as many as 138,561 people — a “record-setting” amount — are set to receive a total of $13.2 million from Illinois’s Unclaimed Property program.
“All they have to do is cash the check,” the release said.
The recent checks, Frerichs said, are part of the latest round of the “Enhanced Money Match” program. The program allows the Treasure’s Office to “automatically” return money to individuals without them needing to file a claim, the release said.
The vast majority of the checks in this round are for between $50 and $100, the release said.
“Returning this money to its rightful owners will help make life a little bit easier for people,” Treasurer Frerichs said in the statement “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.”
How does Illinois’ missing money program work?
The state’s “Enhanced Money Match” program crossmatches data from the state with the State Treasurer’s unclaimed property database, the release said. The Frerichs’ office then matches and confirms names and mailing addresses and then subsequently sends a letter to the unclaimed property owner that contains the amount of unclaimed money, and the source.
Following a “quick, final review,” a check is issued to the owner the release said.
“All they have to do is watch for it in the mail a few weeks after the receive a letter from the State Treasurer’s Office,” the release said.
Don’t don’t forget to deposit the check, Frerichs’ office stressed.
The program is specifically designed for cash owed to a single person, the release said.
“Not included is cash owned by multiple parties, including a joint holding of a parent and minor child, as well as shares of stocks and bonds, escrow accounts, and the contents of bank safe deposit boxes,” the release added.
According to officials, the money match program is part of the office’s “Unclaimed Property” program, also known as I-Cash. Illinois currently holds more than $5 billion unclaimed property, the release said.
The release stressed that the treasurer is legally required to return unclaimed property to its rightful owners or heirs, “not matter how long it takes.”
How to check if you have unclaimed money in Illinois
While the money match program only applies to individuals, the state’s searchable I-Cash database can be found here. The database contains unclaimed property information for individuals, properties or businesses.
You can check the I-Cash database to see if you have unclaimed money here.
You can also visit the Comptroller’s website to check for unclaimed money here. The Office of the Comptroller currently has records of almost 150,000 uncashed checks worth over $50 million, the website said.
from NBC Chicago https://ift.tt/BvPJlwL
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