SALT LAKE CITY, Utah (ABC4) – Utahns are reportedly missing millions of dollars in unclaimed property, according to the Utah Office of State Treasurer. As a result, the Utah Unclaimed Property Division is hosting its third annual webathon to raise awareness of the unclaimed property, while helping local Utah charities.
According to the Unclaimed Property Division, one in five Utahns have lost money and each year, it finds the rightful owners of “tens of millions of dollars of property.” In the 2022 fiscal year, $30.6 million was claimed by Utahns who were missing their property. In 2021, the division received over 500,000 unclaimed properties totaling $66.7 million.
This unclaimed property comes from dormant bank accounts, overpaid medical bills, uncashed checks, safe deposit box contents and unpaid insurance benefits. Where ever the source, when a business owes money to another business, individual, or charity it can’t find, it gives those funds, along with the name and last-known address of the owner, to the state’s Unclaimed Property Division after three years.
As the holiday season approaches, the division is going through extra steps to reunite lost property with their rightful owners. According to the Unclaimed Property Division, the 2021 webathon resulted in more than $1.9 million being claimed.
The division will post live statistics and information about unclaimed property and several guests, including those from local charities, will share experiences about unclaimed property.
Utahns are also encouraged to share their experiences on social media and if they tag at least three friends in a comment on a n unclaimed property post about the webathon, they will have a chance to win an Amazon gift card.
Utahns are also encouraged to join the webathon where staff will be online and ready to to process claims or visit the unclaimed property website and submit claims for their missing property.