This summer, the state of Illinois has surprised its residents with some excellent financial news. Far from being a traditional “stimulus payment,” the state is returning billions of dollars that belong to its citizens through the innovative Enhanced Money Match program, which is managed by the State Treasurer’s Office. If you live in Illinois, you could be one of the lucky few to receive a surprise check.
Illinois State Treasurer Michael Frerichs has been very clear about this benefit: “The money belongs to you, the check is real, and it is not a scam.” The Enhanced Money Match program is one of Illinois’ oldest and most effective consumer protection initiatives, as part of the state’s Unclaimed Property program, known as I-CASH. The primary benefit is that it eliminates the need to file a claim.
Eligibility is determined automatically. The Treasurer’s Office uses cutting-edge technology to cross-reference data collected by other state agencies with its extensive database of unclaimed property.
If your name and mailing address correspond to an unclaimed fund, you will be identified. Once the data is confirmed, you will receive a notification letter and, shortly thereafter, the check.
Who is eligible to claim a deposit from the Enhanced Money Match program?
The Enhanced Money Match program focuses primarily on direct claims involving cash owed to a single person. This may include funds from:
Forgotten bank accounts
Uncashed payroll or reimbursement checks
Unpaid life insurance benefits
Unused refund cards
If you are a current or former resident of Illinois and have money that for some reason was forgotten or unclaimed in one of these categories, you are likely eligible.
How much money can each person get from the Enhanced Money Match program?
This summer, Treasurer Frerichs’ office distributed $45 million to nearly 600,000 people, making it the largest unclaimed money distribution in the nation’s history. Since its inception in 2018, the Enhanced Money Match program has returned more than $130 million to over 870,000 individuals.
What happens if the payment has not arrived?
The Illinois State Treasurer is legally obligated to safeguard more than $5 billion in unclaimed property and return it to its rightful owners or heirs, regardless of how long it takes.
While the Enhanced Money Match program handles the most basic claims, it does not cover other types of unclaimed property like stocks and bonds, escrow accounts, or the contents of safe deposit boxes.
If you do not receive a surprise check but believe you may have unclaimed funds, visit the official I-CASH website.
