Millions of dollars in unclaimed property are turned over to the state every year. This money comes from sources like dormant bank accounts, uncashed checks, safe deposit box contents, and unpaid insurance benefits.
When a business owes money to an individual it cannot find, it remits those funds to the state’s Unclaimed Property Division after three years of non-contact with the owner.
In CY2019, the division received 380,221 unclaimed properties totaling $56.4 million, and it reunited a record-breaking $40.6 million in lost property with rightful owners in FY2020.
To learn more about the Unclaimed Property Division and to search for unclaimed property, visit mycash.utah.gov.