SALT LAKE CITY, Utah (ABC4) – A record amount of $77.2 million in lost money has been reported to the Utah State Treasurer in 2022, and now it’s available online for Utahns to claim.
According to the Utah Unclaimed Property Division of the Office of State Treasurer, the record-breaking amount of lost money comes from sources like dormant bank accounts, overpaid medical bills, uncashed checks, safe deposit box contents, and unpaid insurance benefits.
The money, which rightfully belongs to Utahns, is turned over to the state by businesses when they owe an individual money but cannot find the person after three years. The division will then use a variety of different methods to give the money back to its rightful owners. These methods include leveraging technology and partnerships with charities, local governments, and media, and “implementing aggressive outreach campaigns.”
The Utah Unclaimed Property Division said property holders remitted nearly $500,000 in new cash and tangible properties to the division by the Nov. 1 reporting deadline. It also said in the 2022 fiscal year, $30.6 million in unclaimed cash was returned to rightful owners.
“Last year, we shifted our efforts to reunite unclaimed money with rightful owners in Utah’s most economically depressed communities where the money could make the biggest difference,” said Utah Treasurer Marlo M. Oaks. “As a result, we reunited lost money with more Utahns than ever before, including those who needed it the most during these challenging economic times.”
Oaks encourages Utahns who may have already checked the website in previous years to check again. As more unclaimed property is reported to the State Treasurer, more Utahns may be reunited with lost money that wasn’t previously available.
“Despite our innovations and accomplishments, we still take in more property each year than we can return,” said Unclaimed Property Administrator Dennis Johnston. “Every Utahn should go online at least once a year to find and claim their property – and check for family, friends, deceased relatives and organizations they support as well.”
To see if you have any lost money waiting to be claimed, visit the MyCashUtah website and search for your information.