You may want to check to see if the state of Illinois is holding some of your money.
Illinois State Treasurer Michael Frerichs announced Tuesday that Illinois has returned a record $307.8 million in missing money to more than 567,000 people, businesses and organizations over the past 12 months under the state’s automatic I-Cash program.
The program allows people and businesses in Illinois to search a database to see if they have unclaimed property or money that is rightfully owed to them. In many cases, the program automatically sends people their missing money without having to file a lawsuit.
“The Illinois State Treasurer’s Office is tasked with protecting and returning unclaimed property, including the contents of overlooked safe deposit boxes, unpaid life insurance benefits, forgotten bank accounts and unused discount cards,” Frerichs’ office said in a statement. “The Illinois Treasurer is required by law to return unclaimed property to its owner or heirs, no matter how long it takes.”
I-Cash automatically returns matches and returns money to people through a so-called “Enhanced Money Match” program, Frerich’s office said, which routinely sends out missing and unclaimed money after verifying some information electronically. The program launched in 2018 and has returned more than $130 million to more than 870,000 people.
“Last summer, a record 400,000 people received $34 million in money they didn’t even know was coming,” the press release said.
Attention Illinois residents: According to the Illinois State Treasurer’s Office, you may be one of nearly 140,000 people who have an unclaimed cash check with your name on it waiting to be cashed.
Most automatic checks were for $50 or less, although some people filed multiple claims that totaled more. In one case, a suburban Cook County woman received $1.37 in missing money through an estate claim, Frerichs said. In another case, $1.2 million worth of stock was returned to a family in suburban Cook County who were heirs to a trust.
“In addition, Treasurer Frerichs presented Pope Leo
The state also added new features to the I-Cash program, the release said, including a Spanish-language website for missing money and a way for people to notify family or friends if they discover they are owed money.
“When visitors to the I-CASH website come across the name of someone they know, they can select the ‘share’ icon and provide their friend or relative’s email address,” the press release said. “Frerichs’ office will notify the person by sending an email mentioning the missing money along with the name of the friend or relative who discovered it. Then that person can begin the process of collecting their missing money.”
The Treasurer’s Office recommends checking the I-Cash website “at least twice a year” to determine if missing money or unclaimed property is owed.
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How to check if you are missing money in Illinois
Here you can check the I-Cash database to see if you have unclaimed money.
https://www.nbcchicago.com/news/local/illinois-unclaimed-property-missing-money-i-cash-how-to-get-a-check/3964644/
