The State Treasury is hoping to return unclaimed money to Utah residents with the help of a new website.
Dennis Johnston from the Unclaimed Property Division of the state Treasury says he does not want your money. “All of the money that we hold belongs to someone, and it’s not the state of Utah,” he says.
Every year more than $40 million is turned over to the State to be returned to rightful owners, but Johnston says less than half of that money is actually returned. A new website makes it easier to search the Unclaimed Property Division’s database to find property or money, mostly in the form of uncashed paychecks or abandoned bank accounts and safe deposit boxes.
“And so we would like people to search our website for themselves, friends, relatives, even deceased relatives,” says Johnston.
He says many people move and forget about a security deposit or a final paycheck. Generally, after three years of inactivity on that property, it is turned over to the state. To search for potential unclaimed property, visit the website at mycash.utah.gov.