Utahns owed millions in unclaimed property, lawmakers consider bill to return money automatically

Feb 10, 2023, 12:06 PM | Updated: Mar 4, 2023, 2:21 pm

SALT LAKE CITY — Our morning show goofball reporter, Casey Scott has his own way of busting inflation — every Wednesday on KSL Today, he ambushes unsuspecting motorists with free gas cards. But this week, I ambushed Casey, with a check for more than $300.

Well, it was a big novelty check borrowed from the Utah Unclaimed Property Division, but the money is real.

The division is where money and property get sent whenever, for whatever reason, a business cannot get them to its rightful owner. On this day, it was holding over $300 for Scott, but it could be holding your money, too, State Treasure Marlo Oaks said.

“It’s our job to reunite it with its rightful owner,” he said.

The money comes from sources like dormant bank accounts, overpaid medical bills, uncashed checks or unpaid insurance benefits. There is no shortage of money or people to whom it belongs — in fact about one in four Utahns have money being held by the Unclaimed Property Division.

As for Casey, or anyone else who searches their name and finds they have money in the system, in most cases it is as easy as verifying your identity and the check will be in the mail. But it could be easier.

Lawmakers are proposing HB360 that the state treasurer works with the Utah State Tax Commission to proactively match up folks with their missing money and  start sending out checks, automatically.

Oaks said he loves the idea. He said one of his office’s main objectives is to stimulate the economy, which is most easily done by getting money into the hands of Utahns. Plus, it can make a huge difference for families struggling day-to-day with inflation.

“This bill will really help,” Oaks said. “And really get them (checks) out to people who could really use the money.”

State officials are concerned people will disregard unexpected checks they receive in the mail, assuming it is a scam.

“So, we’re going to need to educate people,” Oaks said. Should the bill become law and checks are sent out, know this: the state will never ask for you to pay a fee to receive your unclaimed property.

“This is a one-way check. This is your money; we want to reunite it with you.”

But what about the money being sent to the wrong person, is that a concern? The bill would cap the limit of automatic checks at less than $2,000. The larger  amounts would still require someone to make a claim.

You don’t have to wait for this bill to become law. You can search right now and see if you or people you know have money waiting to be claimed. You can visit the Unclaimed Property Division’s website MyCash.Utah.gov.

KSL 5 TV Live

Top Stories

KSL Investigates

Amy Olsen...
Matt Gephardt

Utahns cleared of DUI accusations are forced to pay to get their licenses back

Amy Olsen has her driving privilege back now, but it cost her $255. For her, it is a frustrating ordeal that began months earlier when a trooper pulled her over.
5 days ago
Gas bill...
Matt Gephardt

Gas company increasing bills for customers on fixed payments plan

If you're told you're going to pay the same price for 12 months, you wouldn't expect the price to go up. But when the natural gas company raised the rates on a Payson woman, she decided to Get Gephardt to investigate.
5 days ago
Follow @KSL5TVLike us on Facebook...
Matt Gephardt

$21 billion in gift cards go unused. Here’s how to avoid letting them go to waste

Gift cards: they are one of the most popular gifts to give and to receive, but that does not necessarily mean they are going to get used.
7 days ago
(KSL TV)...
Matt Gephardt and Sloan Schrage

How to beat the dynamic pricing used by Amazon and many other retailers to pay less

The KSL Investigates team gives you information on how to beat dynamic pricing to get your money's worth and pay less.
8 days ago
Follow @KSL5TVLike us on Facebook...
Daniella Rivera

Utah’s DCFS stops using drug testing company following KSL reports on claims of false positives

Utah’s Division of Child and Family Services is no longer contracting with a drug testing company embroiled in litigation and doubt. Following questions from the KSL Investigators, the state’s child welfare agency is also conducting an audit of its response to complaints from families.
8 days ago
FILE: JR Johansen clearing off the snow from his roof. (KSLTV/Stuart Johnson)...
Matt Gephardt

What kind of snow damage does insurance cover?

A home in Park City is one of the many Utah homes left damaged by this long winter. An ice dam pushed water up under the shingles and caused part of the ceiling to come crashing down.
11 days ago

Sponsored Articles

Happy diverse college or university students are having fun on their graduation day...
BYU MBA at the Marriott School of Business

How to Choose What MBA Program is Right for You: Take this Quiz Before You Apply!

Wondering what MBA program is right for you? Take this quiz before you apply to see if it will help you meet your goals.
Close up of an offset printing machine during production...
Les Olson IT

Top 7 Reasons to Add a Production Printer to Your Business

Learn about the different digital production printers and how they can help your company save time and money.
vintage photo of lighting showroom featuring chandeliers, lamps, wall lights and mirrors...
Lighting Design

History of Lighting Design | Over 25 Years of Providing Utah With the Latest Trends and Styles

Read about the history of Lighting Design, a family-owned and operated business that paved the way for the lighting industry in Utah.
Fiber Optical cables connected to an optic ports and Network cables connected to ethernet ports...
Brian Huston, CE and Anthony Perkins, BICSI

Why Every Business Needs a Structured Cabling System

A structured cabling system benefits businesses by giving you faster processing speeds and making your network more efficient and reliable.
notebook with password notes highlighted...
PC Laptops

How to Create Strong Passwords You Can Actually Remember

Learn how you can create strong passwords that are actually easy to remember! In a short time you can create new ones in seconds.
house with for rent sign posted...
Chase Harrington, president and COO of Entrata

Top 5 Reasons You May Want to Consider Apartment Life Over Owning a Home

There are many benefits of renting that can be overshadowed by the allure of buying a home. Here are five reasons why renting might be right for you.
Utahns owed millions in unclaimed property, lawmakers consider bill to return money automatically