A press release fro State Treasurer Michael Frerichs:
Money Match – It’s Your Money
We always are looking for new ways to improve how our office serves the public. Our latest success story may return your lost money without any action on your part.
The new ‘Money Match’ program uses existing technology to match qualifying unclaimed cash with Illinois residents.
The property must be $2,000 or less with only one owner.
Our goal is to return more money, more quickly, and without the need of filing a paper claim, to Illinois taxpayers.
Under a new law that we initiated, the state treasurer’s office can compare unclaimed property records to state tax records.
When a qualifying match is found, we can pay the rightful owner without a claim.
An estimated 63,000 ‘Money Match’ notification letters will be mailed this month. Checks will be issued after the address is confirmed to be correct. Our hope is to return $12 million.
In Illinois, the state treasurer’s office is tasked with safeguarding unclaimed property, such as unpaid life insurance benefits, forgotten bank accounts, and unused rebate cards.
We hold more than $2 billion in unclaimed property and we are legally required to return the property to the rightful owners no matter how long it takes.
In 2017, we convinced the General Assembly to create Money Match.
We scoured more than 830,000 unclaimed property files to identify the initial 63,000 ‘Money Match’ recipients.
Not included in ‘Money Match’ is cash owned by multiple parties, including a joint holding of a parent and minor child, as well as shares of stock and bonds, bank safe deposit box contents, and escrow accounts.
Whether or not you receive a Money Match letter, you still might have unclaimed property. Individuals can search their name, or the name of their business, or non‑profit, at www.illinoistreasurer.gov/ICASH. Please remember that we never charge money to search the database or return unclaimed property.
At the treasurer’s office, we do more than invest the state’s money. We create programs to help people invest in themselves. At the treasurer’s office, we are invested in you.