(GTU)- Millions of dollars in lost or unclaimed money are turned over to the State of Utah every year. This money comes from places like dormant bank accounts, overpaid medical bills, and unpaid insurance benefits. Find unclaimed property for you, your family, or your business.
The Utah Unclaimed Property Division of the Office of State Treasurer serves as a lost and found for abandoned money. The division was created because nearly one in five Utahns has lost money. Wondering if you could have money tied up somewhere? Many people are. When a business owes money to an individual or organization it cannot find, it remits those funds to the division after three years of non-contact with the owner.
The Unclaimed Property Division utilizes several approaches to return unclaimed money to rightful owners, including employing new strategies, implementing aggressive outreach campaigns, leveraging technology, and forging partnerships with charities, local government leaders, and the news media. They just want to give you your money back.
The division has more than quadrupled annual claims payments during the past decade with methods that are both high-tech and high-touch. It utilizes claims processing technology and digital advertising to reach the greatest number of unclaimed property owners, while also implementing more personalized outreach and locating efforts to identify owners who might otherwise be missed.
Last year alone, The division reunited 32,504 properties totaling $36 million with rightful owners in FY2021. The Unclaimed Property Division has returned more than $350 million in unclaimed property since its inception.
Most unclaimed property is money, but the Unclaimed Property Division also receives items from abandoned safe deposit boxes that can also be claimed. Some interesting items the division has this year include a bag of silver bars, pictures and a passport, a W-2 form from the 1930s, and rare coins.
Many people assume the unclaimed property mission is too good to be true and there is a catch. But this is a legitimate government program to reunite unclaimed money with rightful owners.
Visit mycash.utah.gov to see if you have any money laying around.
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