What: The Utah Unclaimed Property Division of the Office of State Treasurer is hosting a webathon on Wednesday, September 1 to raise awareness of unclaimed property and encourage Utahns to find and claim their lost money online.
The six-hour event will take place online at treasurer.utah.gov/UPwebathon, as well as on Facebookand YouTube. During the event, the division will post live statistics and information about unclaimed property. Several guests, including claimants, nonprofit organizations and elected officials, will join the online conversation to share their unclaimed property experiences.
Before and during the event, Utahns are encouraged to share information about unclaimed property on social media and invite their friends and family to find and claim their lost money on mycash.utah.gov. Individuals who tag three friends in a comment on an unclaimed property post about the webathon will be entered into a drawing to win one of 15 $25 Amazon gift cards.
Unclaimed property staff will be online during the event and ready to process the claims submitted through mycash.utah.gov. They are also prepared to answer questions and concerns by emailand through the chat function on mycash.utah.gov. While the focus of the webathon is to utilize the web, staff is also available to assist by phone.
Treasurer Marlo Oaks is available for media interviews before and during the event.
Why: When a business owes money to an individual it cannot find, it remits those funds to the Unclaimed Property Division after three years of non-contact with the owner. Last year, the division received 449,998 unclaimed properties totaling $52.1 million. Unclaimed property comes from sources like dormant bank accounts, overpaid medical bills, uncashed checks, safe deposit box contents and unpaid insurance benefits.
Each year, the division reunites tens of millions of dollars of property with rightful owners, including $36 million in fiscal year 2021 (July 2020 – June 2021). Nearly $6 million of the FY2021 total was paid out to businesses.
“Our team uses a variety of methods to return unclaimed money to rightful owners, including implementing aggressive outreach campaigns, leveraging technology and forging partnerships with charities, local government leaders and the news media,” Treasurer Oaks said. “We have an exceptional track record. During the last decade, we have more than quadrupled annual claims payments.”
The division employs methods that are both high-tech and high-touch. It uses digital advertising and claims processing technology to reach the greatest number of unclaimed property owners, while also implementing more personalized outreach and locating efforts to identify owners who might otherwise be missed.
“Despite our innovations and accomplishments, we still take in more property each year than we can return,” Unclaimed Property Administrator Dennis Johnston said. “Every Utahn should go online at least once a year to find and claim their property – and check for family, friends, deceased relatives and organizations they support as well.”
“Even if you have searched for unclaimed property in the past, the webathon serves as a good reminder to check again,” Treasurer Oaks said. “We may have received additional property since you last visited our website.”
For more information about unclaimed property and to search the online database, visit mycash.utah.gov or call 801-715-3300.