Money Match — It’s Your Money

October 2019 Treasurer’s Note by Treasurer Michael Frerichs

Our innovative ‘Money Match’ program was so successful last year that we are doing it again.

‘Money Match’ uses existing technology to match unclaimed cash with Illinois residents. The unclaimed cash must be $2,000 or less with only one owner. If we match your name and information with a state database of recent tax filings, we will send you a check. Our goal is to return more money, more quickly, and without the need to file a claim.

In the coming weeks, we anticipate mailing checks to more than 8,000 individuals with a total value of almost $1 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 $3 billion in unclaimed property and we are legally required to return the value of the property to the rightful owners no matter how long it takes.

‘Money Match’ is possible because we convinced the General Assembly in 2017 to allow us to leverage existing technology to return more money, more quickly, to Illinois residents, businesses, and non profits.

In fact, our efforts to streamline the unclaimed property system have allowed us to set new records in returning unclaimed property in each of the past four fiscal years.

In Fiscal Year 2019, which is July 1, 2018 to June 30, 2019, we fulfilled approximately 236,000 claims worth more than $239 million. By comparison, approximately 116,000 claims were fulfilled in Fiscal Year 2018 ($180 million returned), 58,000 claims in Fiscal Year 2017 ($159 million returned), and 53,000 claims in Fiscal Year 2016 ($155 million returned).

If you do not 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 illinoistreasurer.gov/ICASH.

Please take a moment to search. Your money belongs in your pocket, not in the state’s safe.

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