CA Inflation relief deadline: What happens if you don't cash in your unclaimed funds by Thursday
ABC7 San Francisco • • nation
Key Points:
- California residents must activate and transfer funds off their Middle Class Tax Refund debit cards by midnight on April 30 to avoid losing unclaimed inflation relief money, totaling $600 million statewide.
- Any remaining balance on these cards after the deadline will be reclaimed by the state and added back to the general fund, not sent to Unclaimed Property for later claim.
- Those unable to spend the funds in stores can transfer the money to their bank accounts via ACH transfer after activating and registering their cards at mctrpayment.com or through the Money Network Mobile App.
- Individuals who received their relief funds via direct deposit should check their 2022 bank statements for "FTB MCT REFUND," while those who received checks must cash or deposit them before the check's expiration date.
- A class action lawsuit against Money Network regarding the handling of these funds was dismissed in April 2024, and no additional inflation relief payments are currently planned.
