Illinois homeowners are in for a pleasant surprise as unclaimed property cheques totaling up to $5,000 are being sent to their rightful owners as a result of the Illinois State Unclaimed Property Program. Unclaimed property is any money or property that the state holds on behalf of citizens but which has not yet been reclaimed.
Illinois Unclaimed Property Program
Unclaimed property checks, also known as unclaimed property reimbursements, will be given out by Illinois to eligible citizens. With this program, residents will be reunited with monies and possessions that have been lying dormant or unclaimed for a while. By reading their mail, more than 66,000 individuals could automatically qualify for a maximum of $5,000 each (a grand total of over $47 million). To make it simpler to automatically refund money to consumers without the need to file a claim, it is stated that Illinois State Treasurer Michael Frerichs collaborated with the Illinois General Assembly to develop several adjustments within the Money Match program. Legislators decided to increase the automatic reimbursement cap from $2,000 to $5,000.
Eligibility Criteria For Unclaimed Property Checks
These unclaimed property checks’ eligibility requirements are rather simple. Unclaimed property checks from Illinois may be awaiting both present and former residents. These checks may come from a variety of places, such as lapsed bank accounts, unclaimed insurance benefits, utility savings, or uncashed salaries. Unclaimed property checks occasionally belong to people who have passed away. This money is frequently available for claim by the beneficiaries or heirs. It’s worthwhile to look even if you’re doubtful that you have unclaimed property. It might come as a nice surprise to learn that you qualify for a check.