Program sends unclaimed money back to Utahns automatically

Nov 1, 2023, 6:00 PM

gold coins pictured, these are part of the unclaimed money in utah...

FILE: Tens of thousands of dollars in gold coins are part of unclaimed properties at the Utah Unclaimed Property Division office in Salt Lake City on Thursday, Feb. 3, 2022. (Kristin Murphy/Deseret News)

(Kristin Murphy/Deseret News)

 SALT LAKE CITY — There’s a new way to get unclaimed money if you live in Utah. Utah Treasurer Marlo Oaks and the Utah Unclaimed Property Division announced a new program for unclaimed property this week. 

In the past, Utahns had to search for their name on the state’s official website for unclaimed property.  If their name was on the list, they’d file a claim. 

But with the new MyCash Now program, people owed $2,000 or less can sit back and wait for the check to come in the mail.

“More money will be able to get back into rightful owners hands with less hassle, less fraud,” Oaks told KSL NewsRadio.

A bill passed in the 2023 Utah Legislative Session allowed the state to put this program together. It works by the Utah Tax Commission and the Unclaimed Property Division securely passing information between each other.

How does Utah’s new unclaimed money program work?

If you have a dormant bank account or unclaimed insurance check the division will notify you through the mail. The division will ask you to verify your personal information. They’ll send you a check if the information is correct and an agency or company owes you $2,000 or less.

But if an agency or company owes you more than $2,000, you’ll have to file a claim to get your money.

If you are owed money and you have moved, contact the  Utah Unclaimed Property Division with proof of your new address and they’ll forward the check to your new address.

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Program sends unclaimed money back to Utahns automatically