State Treasurer’s Office Launches Webathon To Reunite Utahns With Forgotten Money

Jun 17, 2020, 6:16 PM | Updated: 8:37 pm

SALT LAKE CITY, Utah – The COVID-19 pandemic has caused more than its fair share of economic upheaval, leaving many people strapped for cash.

However, thousands of Utahns have forgotten funds sitting idle with the state of Utah, waiting to be claimed. So now, State Treasurer David Damschen is doubling down on his efforts to reunite Utahns with their money.

Among his many jobs, Damschen oversees the Utah Unclaimed Property Division, which is where money and property go when the rightful owner cannot be found.

Last year, the division reunited some $29 million dollars worth of such cash and property to its owners or their heirs. But that is still less than 10% of the more than $370 million dollars it’s holding onto right now.

Utahns can visit mycash.utah.gov to see if they have any unclaimed property.

“We’re custodians of that money,” said Damschen. “Our sole purpose in the Unclaimed Property Division is to chase down the rightful owner of that money, and put it back in their pocket.”

That money comes from a variety of sources: insurance payments, dormant bank accounts, abandoned safety deposit boxes, overpayments to a utility company or even uncashed checks.

“It might be a rebate or refund check that gets mailed to you, and it gets lost and is never cashed,” Damschen said. “That company still owes that money to you, and when they determine that check has never cleared, and if they can’t find you, they pass that money to the Unclaimed Property Division.”

Millions of dollars every year gets added to the division’s pot, but that money still belongs to you. The agency estimates that approximately one in five Utahns has unclaimed money waiting to be claimed.

The state will hold onto that money forever so that anytime an owner comes forward, it will be available. Claiming property is relatively easy: Go online, type your name in the database and if anything pops up, claim it.

“We still have claim processors that are available to meet in person,” said Damschen. “But most of what we do can be done virtually (online).”

In these horrible economic times, you would think people would be coming out of the woodwork to claim forgotten money.

But that hasn’t been the case so far.

“I’m a little bit surprised,” said Damschen. “We had good and normal volume in March, and we had a decline in April.”

So now, the treasurer’s office is hosting a six-hour webathon on Monday.

During the event, they’ll share stories of success and spell out the process on how to file a claim if you think some of that $370-million pot is rightfully yours.

“I always want to get money back the rightful owners. And we’re always very energetic about that,” said Damschen. “But believe me, in this environment, in this crisis, we really, really, really want to get that money back to where it belongs.”

Here are three ways to take part in Monday’s unclaimed property webathon:

Website: treasurer.utah.gov/UPwebathon

Facebook: facebook.com/Utah.Unclaimed

YouTube: https://www.youtube.com/channel/UCojqcgfn1qiNtPQTdqWG89w

You can also claim your money anytime by going to mycash.utah.gov.

And if you feel you may have forgotten money in another state, this link will take you to the National Association of Unclaimed Property Administrators sites where you can find each state’s database.

KSL 5 TV Live

Top Stories

Local News

Zane James...
Madison Swenson

$4 million settlement reached in officer-involved shooting of Zane James

A Utah family has reached a $4 million settlement with the city of Cottonwood Heights in relation to the shooting of their 19-year-old son by a city police officer.
1 day ago
Madison Swenson

8-year-old boy hit by car while riding scooter in Riverton

An 8-year-old boy was rushed to the hospital Friday after he was struck by a car in Riverton.
1 day ago
Mike Anderson

Study aims to balance growth, preservation around Bear Lake

Bear Lake brings nearly $50 million into the Northern Utah economy each year, all while it continues to serve as a major water source. A new study is taking a close look at those impacts on Rich County.
1 day ago
Dan Spindle, KSL TV

AAA Gas calculator shows cost for your holiday road trip

Millions of Americans are planning to travel this Independence Day weekend despite record-high gas prices.
1 day ago
Shara Park

Three moose take a dip in a North Salt Lake pool

A wild sight in North Salt Lake this week as three moose have made themselves at home in pools and on Eaglewood Golf Course.
1 day ago
Ladd Egan

SLC firefighters urge residents to obey fireworks restrictions

As we head into the holiday weekend, firefighters in Salt Lake City are urging residents to obey firework restrictions.
1 day ago

Sponsored Articles

hand holding 3d rendering mobile connect with security camera for security solutions...
Les Olson

Wondering what security solutions are right for you? Find out more about how to protect your surroundings

Physical security helps everyone. Keep your employees, clients, and customers safe with security solutions that protect your workplace.
Many rattan pendant lights, hay hang from the ceiling.Traditional and simple lighting....
Lighting Design

The Best Ways to Style Rattan Pendant Lighting in Your Home

Rattan pendant lights create a rustic and breezy feel, and are an easy way to incorporate this hot trend into your home decor.
Earth day 2022...

How Are You Celebrating Earth Day 2022? | 4 Simple Ways to Celebrate Earth Day and Protect the Environment

Earth Day is a great time to reflect on how we can be more environmentally conscious. Here are some tips for celebrating Earth Day.
Get Money Online...

More Ways to Get Money Online Right Now in Your Spare Time

Here are 4 easy ways that you can get more money online if you have some free time and want to make a little extra on the side.
Lighting trends 2022...

Lighting Trends 2022 | 5 Beautiful Home Lighting Trends You Can Expect to See this Year and Beyond

This is where you can see the latest lighting trends for 2022 straight from the Lightovation Show at the Dallas World Trade Center.
What Can't You Throw Away in the Trash...

What Can’t You Throw Away in the Trash? | 5 Things You Shouldn’t Throw in to Your Trash Can

What can't you throw away in the trash? Believe it or not, there are actually many items that shouldn't be thrown straight into the trash.
State Treasurer’s Office Launches Webathon To Reunite Utahns With Forgotten Money