Unclaimed Property Division received a record $178.3 million in lost money in FY 2025
SALT LAKE CITY – January 28, 2026 – Utah Treasurer Marlo M. Oaks urges Utahns to search and claim their lost money at mycash.utah.gov on National Unclaimed Property Day, as businesses continue to report record amounts of unclaimed property to the state.
When a business owes money to an individual or organization it cannot find, after three years of non-contact with the owner, it remits those funds to the state’s Unclaimed Property Division. Unclaimed property comes from sources like dormant bank accounts, overpaid medical bills, uncashed checks, safe deposit box contents, and unpaid insurance benefits.
After nearly a decade of annual reporting in the $30-$60 million range, lost money reported to the state surged beginning in 2023, reaching $178.3 million in FY 2025. While the division returned a record $43.4 million to Utahns last fiscal year, the growing volume of new property means more money enters the system each year than can be paid out using existing practices.
“The amount of unclaimed money reported to the state continues to grow as businesses improve compliance through better technology, streamlined reporting processes, and increased education. This ensures more money is available to be claimed by rightful owners, and we are committed to building the capacity needed to keep pace,” Treasurer Oaks said.
The division is working to return funds more efficiently through operational improvements and 2026 legislation designed to streamline claims, improve owner identification and contact, and modernize how emerging property types, including virtual currency, are handled.
“These changes will help us move money out faster and more securely,” Treasurer Oaks said. “But the most important step is still for Utahns to search.”
The division has temporarily paused the MyCash Now program, which automatically issued payments of up to $2,000 to verified rightful owners through a secure data match with the Utah Tax Commission. The program will be restarted once staffing levels are sufficient, enhanced fraud safeguards are in place, and electronic payments are enabled, ensuring Utahns continue to receive fast, automated, and secure access to their money.
Utahns can search for lost money and begin a claim at mycash.utah.gov.
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