More than 70,000 people in Illinois are set to get payments for up to $5,000 in unclaimed property. Could you possibly be one of them?
Illinois’ Unclaimed Property Program, or I-Cash—one of several avenues via which Illinois citizens can locate unclaimed money owed to them—originally required residents to make a claim in order to collect any unpaid funds. However, State Treasurer Michael W. Frerichs stated in a prior news release that the state can now mail a check without a claim being lodged.
According to a Monday update from Frerich’s office, letters will soon be sent to more than 73,000 people who will automatically receive checks of up to $5,000 under the Enhanced Money Match program.
According to officials, the tool compares state data to the treasurer’s unclaimed property database. According to report, a different batch of letters was sent to more than 66,000 residents who were in line to receive checks for unclaimed property in August.
The initiative, according to Frerichs’ office, is limited to cash due to an individual and excludes money owed to several parties, joint holdings of a parent and minor child, shares and bonds, escrow accounts, and safe deposit boxes.
There are several options for Illinois residents to find out if they have unclaimed property.