Illinois Residents to Receive Unclaimed Property Checks of Nearly $13.2 Million

A record-breaking number of Illinois residents are about to receive a financial boost thanks to the state's Unclaimed Property program.

State Treasurer Announces Largest-Ever Money Match Program Distribution

Treasurer Michael Frerichs announced that over 138,561 individuals will be receiving checks totaling nearly $13.2 million through the state's Enhanced Money Match program.

The Enhanced Money Match program utilizes technology to streamline the process of returning unclaimed funds to residents.

It automatically matches names and addresses in state databases with the Unclaimed Property database, eliminating the need for individuals to file a claim. Most checks in this round are for amounts between $50 and $100.

This initiative will provide much-needed financial assistance to many Illinois residents. With rising costs, these checks can help cover daily expenses like groceries or gas. -Illinois State Treasurer Michael Frerichs

How the Money Match Program Works

The program utilizes existing data to identify potential owners of unclaimed property. Once a match is confirmed, a letter is sent to the individual detailing the amount and source of the funds.

Following a final review, a check is automatically issued and mailed to the owner.

"Remember to deposit or cash your check when you receive it," cautioned Treasurer Frerichs.

Largest Money Match Distribution in the Nation

Since its launch in 2018, the program has returned over $102 million to nearly 422,000 individuals. This latest round, sending out close to 140,000 letters, marks the largest Money Match program distribution ever conducted nationwide.

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The program currently focuses on returning unclaimed cash held solely by one individual. This excludes funds belonging to multiple parties, such as joint accounts, as well as stocks, bonds, and safe deposit box contents.

Unclaimed Property Program: Returning What's Rightfully Yours

The Money Match program is an initiative of the Illinois Unclaimed Property program, also known as I-Cash.

This long-standing consumer protection program safeguards unclaimed property in the state, including forgotten bank accounts, unused rebate cards, and unclaimed life insurance benefits.

Currently, Illinois holds over $5 billion in unclaimed property. Under Treasurer Frerichs' leadership, the office has returned over $2 billion – the highest amount in state history – and remains committed to reuniting rightful owners with their lost funds.

To find out if you have unclaimed property, CLICK HERE to visit the I-Cash database.