NewsLocal News

Actions

Utahns received over $30 million in unclaimed cash from state office

Cash Money Dollar Bills
Posted at 7:04 PM, Aug 03, 2022
and last updated 2022-08-03 21:04:48-04

SALT LAKE CITY — Utahns received over $30 million in unclaimed cash in the last fiscal year, thanks to a division in the state that few people may know about, according to the Utah Office of the State Treasurer.

Within the office is a Unclaimed Property Division, which receives money from businesses who owe individuals money, but cannot find the rightful owners after three years without contact; these funds are then remitted to this division.

Last year, the division received 503,648 unclaimed properties totaling $66.7 million from sources such as dormant bank accounts, overpaid medical bills, uncashed checks, unpaid insurance benefits, and other sources.

“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,” said Utah Treasurer Marlo Oaks.

One use of the tool allows the division
to focus on areas of the state with the greatest need.

As part of this effort, the division sent out 796,388 direct mail postcards to these communities during the past year.

“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,” said Unclaimed Property Administrator Dennis Johnson.

“Even if you have searched for unclaimed property in the past, check again,” Treasurer Oaks said. “We may have received additional property since you last visited our website.”

For more information and to search property, visit mycash.utah.gov.