This summer, the state of Illinois will give surprise checks totaling around $45 million to almost 600,000 residents of the state.
This program, which is intended to return money that has been forgotten, is based on data regarding unclaimed property and does not need receivers to fill out any paperwork. To this day, the initiative has returned more than 130 million dollars to more than 870,000 residents since it was first implemented in 2018.
Where does the state of Illinois get the budget for the refund?
The money comes from funds that Illinois has acquired throughout the years, including dormant bank accounts, uncashed refunds, insurance policies, unclaimed dividends, and other assets. Forgotten properties and inactive accounts are the sources of the income. Each and every one of these has been handed back to the state without any more action being required, and they are currently being returned to their proper owners in accordance with their income.
How many people receive the unclaimed stimulus check payment that Illinois is providing?
- There will be nearly 600,000 people who are qualified to receive this reimbursement from the Illinois government: Through the Enhanced Money Match program, approximately 600,000 individuals were identified as having the potential to receive checks during the summer. There is no need to submit an application because the state will act on your behalf.
- Although the majority of the checks will be for less than fifty dollars, there will be certain beneficiaries who will receive bigger sums if they have several claims received.
How do I know if I am eligible for unclaimed stimulus payment?
- It was in the month of June that letters were dispatched: the state dispatched letters in late June, informing recipients that they should get ready to receive their payment during the summer of 2025.
- Do you not have a letter from the state in your possession? Your information can be checked for accuracy in the I-Cash public database, which can be accessed at icash.illinoistreasurer.gov. In order to identify owners, the state checks data with that of other agencies.
What to do with the unclaimed stimulus payment program
- Go through your mail: The cheque should be cashed if you find an envelope from the state and you should open it.
- Check I-Cash: If you have not received anything and believe that you have funds, you should check your I-Cash account by looking yourself up in the database.
- Immediately available cash: the majority of checks have a date of expiration.
The state of Illinois is responsible for processing more than $5 billion worth of unclaimed property and is legally obligated to return it. Over the course of this summer, Illinois will distribute $45 million in monies that have been forgotten to almost 600,000 residents. It is not necessary to submit an application since the state will simply locate you and issue the cheque to you directly.
