Nearly 140,000 Illinois residents to receive unclaimed property checks

Illinois State Treasurer Michael Frerichs is urging almost 140,000 residents to cash their recently mailed unclaimed property checks as part of the state’s Enhanced Money Match program.

Since 2018, the Enhanced Money Match program has returned more than $102 million to almost 422,000 individuals, according to a news release from the treasurer’s office. This latest round of letters represents the largest match in the nation’s history.

This initiative allows the treasurer’s office to automatically return missing funds to individuals without requiring them to file a claim. It uses existing state data to cross-match with its unclaimed property database.

“We put technology to work to return more money to people in our state,” Frerichs said in a news release. “After all, the money belongs to them, but some people see the check in the mail and don’t think it’s real. Please don’t forget to deposit or cash the check, or it ends up back with us as unclaimed property.”

Recent legislation sponsored by state Sen. Sara Feigenholtz of Chicago and state Rep. Stephanie Kifowit of Oswego allows the Treasurer’s Office to return even more money through the I-Cash program, raising the return limit from $2,000 to $5,000.

“It’s a win-win when we can eliminate unnecessary steps and hurdles so that unclaimed property gets into the hands of its rightful owners as quickly as possible,” Feigenholtz said in the release.

The Enhanced Money Match focuses on straightforward claims, specifically cash owed to single individuals. It does not include claims involving multiple parties, shares of stocks and bonds, escrow accounts or bank safe deposit box contents.

“Many families are living paycheck to paycheck to pay their bills,” Kifowit said in the release. “With the holidays quickly approaching, families receiving their money from I-Cash can make a difference, whether it is a fabulous meal, a special gift for their child or a little extra holiday cheer. It’s the least we can do to help our Illinois families.”

The Enhanced Money Match program is part of the Treasurer’s Unclaimed Property initiative, also known as I-CASH. Illinois currently holds more than $5 billion in unclaimed property, with more than $2 billion returned since Frerichs took office – marking the highest amount in state history.

The state treasurer is legally required to return unclaimed property to its rightful owners or heirs, regardless of the time it takes.

To check for unclaimed property, visit illinoistreasurer.gov/ICASH.