LOCAL NEWS

$56M Of Unclaimed Property In Utah Received By Treasurer’s Office

Feb 13, 2020, 3:09 PM | Updated: 3:29 pm
FILE PHOTO...
FILE PHOTO

SALT LAKE CITY, Utah – State officials received over $56 million in unclaimed property in Utah this past year, according to Utah State Treasurer David Damschen.

Damschen said the property, which is usually money, comes from sources such as dormant bank accounts, uncashed checks, stocks, bonds, safe deposit boxes and unpaid insurance benefits.

“We encourage Utahns to check mycash.utah.gov every year as they file their taxes to see if they have lost property to claim,” he said. “We receive tens of millions of dollars in new unclaimed property each year, so the odds are good that you, a relative, or friend have unclaimed property, even if you haven’t in the past.”

Utahns can submit claims for their own property or property of deceased individuals if they can prove they are the rightful heir, treasury officials said.

Utah Unclaimed Property Passes $500 Million

The division currently safeguards more than $544.6 million and over 380,000 new properties were submitted to the Unclaimed Property Division of the Office of State Treasurer before the Nov. 1, 2019, deadline.

Currently, officials said around 20% of Utahns have unclaimed money or property being held by the division.

“There are many ways to lose track of property,” said Unclaimed Property Division administrator Dennis Johnston. “People might move and forget they had a deposit with the utility company, or they might be the beneficiary of a life insurance policy they didn’t know existed. Checking to see if you or your friends and relatives have lost property is simple, easy and something everyone should do at least once every year.”

For more information and to search property, visit mycash.utah.gov or call 801-715-3300.

Treasury officials said they paid over almost $30 million in unclaimed property last fiscal year.

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$56M Of Unclaimed Property In Utah Received By Treasurer’s Office