State treasurer’s ‘Money Match II’ program to return lost money to taxpayers
SPRINGFIELD – Illinois residents won’t have to gather paperwork or file an unclaimed property claim to receive lost money, according to a news release from the State Treasurer’s Office.
Lost cash between $5 and $49.99 could arrive in mailboxes before the holidays, thanks to the state’s new “Money Match II” program, according to a statement from State Treasurer Michael Frerichs. A letter informing 63,000 owners should arrive in mailboxes this week.
The program builds upon the initial Money Match program launched in August. That effort returned about $12 million to 63,000 Illinois residents who were the sole owners of unclaimed cash valued between $50 and $2,000, according to the release. However, cash owned by multiple parties including a joint holding of a parent and minor child, shares of stock and bonds, bank safe deposit box contents and escrow accounts are not included in the data-matching effort.
Illinois holds more than $2 billion in unclaimed property, according to the release. The state treasurer is legally required to get the property to the rightful owners, no matter how long it takes for them to come forward.
You can search the state treasurer’s database for names of residents, businesses or nonprofits, at illinoistreasurer.gov/ICASH. The treasurer’s office accepts unclaimed property twice each year, and Frerichs encourages people to search the database twice each year, the release said.