Unclaimed Treasure: Illinois Residents Urged to Claim Millions in Forgotten Funds

If you're an Illinois resident, you may be one of the nearly 140,000 people with an unclaimed money check waiting to be cashed. The Illinois State Treasurer's office has announced the latest round of the state's "Enhanced Money Match" program, which automatically returns missing money to residents without the need to file a claim.

Unlock Your Forgotten Funds: A Windfall Awaiting Illinois Residents

Millions in Unclaimed Funds Waiting to be Claimed

According to state treasurer Michael Frerichs, the latest round of the "Enhanced Money Match" program has identified 138,561 people who are owed a total of $13.2 million in unclaimed funds. The vast majority of these checks range from $50 to $100, providing a much-needed financial boost for Illinois residents during these challenging economic times.The state's "Enhanced Money Match" program is designed to simplify the process of returning unclaimed money to its rightful owners. By cross-matching data from the state with the State Treasurer's unclaimed property database, the program is able to identify and confirm the names and mailing addresses of those owed money. Once this process is complete, the state sends a letter to the unclaimed property owner, informing them of the amount and source of the unclaimed funds.

A Hassle-Free Way to Claim Your Money

The process of claiming the unclaimed funds is straightforward. After receiving the letter from the State Treasurer's office, residents simply need to watch for the check in the mail, which typically arrives within a few weeks. Once the check is received, all that's required is to cash it, with no additional paperwork or bureaucratic hurdles to navigate."If you are home, if you see a check in the mail from the State Treasurer's office, it's not a scam," Frerichs reassured Illinois residents during a recent update. "All you have to do is open that envelope and cash that check."

Returning Unclaimed Funds to Their Rightful Owners

The "Enhanced Money Match" program is part of the state's broader "Unclaimed Property" program, also known as I-Cash. This initiative is designed to reunite Illinois residents with their forgotten funds, whether it's cash, stocks, bonds, or other types of unclaimed property.According to officials, the state currently holds more than $5 billion in unclaimed property, and the treasurer is legally required to return this money to its rightful owners or heirs, no matter how long it takes. The "Enhanced Money Match" program is a targeted effort to streamline this process and ensure that Illinois residents can easily access the funds that belong to them.

Checking for Unclaimed Funds: A Simple and Accessible Process

While the "Enhanced Money Match" program only applies to individual claims, Illinois residents can also check the state's searchable I-Cash database to see if they have any other unclaimed property. The database contains information on unclaimed funds for individuals, properties, and businesses, making it a comprehensive resource for those looking to recover their lost assets.In addition to the I-Cash database, the Office of the Comptroller also maintains records of almost 150,000 uncashed checks worth over $50 million, which can be accessed through their website. This provides another avenue for Illinois residents to search for and claim any forgotten funds that may be owed to them."Returning this money to its rightful owners will help make life a little bit easier for people," Frerichs said in a previous 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."With millions of dollars in unclaimed funds waiting to be claimed, Illinois residents are encouraged to take a few moments to check the state's databases and see if they have any forgotten money waiting to be discovered. It's a simple and hassle-free way to potentially unlock a financial windfall and provide much-needed relief during these challenging economic times.