UTAH (ABC4) – Government officials are reminding Utahns they could be missing out on millions of dollars in unclaimed cash.
In 2021 alone, about $30.6 million in unclaimed cash was returned to Utahns while the Unclaimed Property Division received $66.7 million in lost property at the end of 2021. The total amount was comprised by a staggering 503,648 unclaimed properties in the state.
Unclaimed property comes from a variety of sources including dormant bank accounts, overpaid medical bills, uncashed checks, safe deposit box contents and unpaid insurance benefits.
When a business owes funds to a person it cannot locate, the funds are remitted to the state’s Unclaimed Property Division after three years of non-contact.
“Our team uses a variety of methods to return unclaimed money to rightful owners, including implementing aggressive outreach campaigns, leveraging technology and forging partnerships with charities, local government leaders and the news media,” explains Utah Treasurer Marlo Oaks.
One way local officials are making the claim process easier is with a searchable online database. The site was created in partnership with the Utah Automated Geographic Reference Center and the Unclaimed Property Division. Residents can use the tool to search unclaimed property data by census tract, county, senate district and house district.
The tool’s main objective is to not only reunite lost money with their rightful owners, but to target the populations that are most needy. Mailed postcards alerting citizens to unclaimed funds were also sent out over the past year.
“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,” says 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.”
“Despite our innovations and accomplishments, we still take in more property each year than we can return,” Unclaimed Property Administrator Dennis Johnston said. “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.”
“Even if you have searched for unclaimed property in the past, check again,” urges Oaks. “We may have received additional property since you last visited our website.”
To check whether you may have unclaimed funds, click here to access the online database.