Owners of unclaimed property could get up to $5,000 from Illinois

The Illinois Treasurer's Office has launched a program to help residents claim money the state owes them.

Driving the news: State Treasurer Michael Frerichs announced last month that the Enhanced Money Match Program will be sending up to $5,000 to 66,000 residents with unclaimed property.

Why it matters: Overlooked safe deposit boxes, unpaid life insurance benefits, old bank accounts and unused rebate cards could bring eligible residents an infusion of cash.

How it works: The treasurer's office is cross-referencing names and addresses in its unclaimed property database with data already collected by the state to identify people who are owed money.

• The office then notifies the owner of the amount they're owed by letter. After a security clearance, the office sends a check to the owner via mail.

Between the lines: This cuts out the step of submitting a claim, as some people might not have internet access or time to fill out the paperwork, making it easier to get their money.

Be smart: See if you have any unclaimed property to collect and how to get it.