Treasurer Marlo Oaks announces record $43.4 million in unclaimed cash returned to Utahns in FY 2025

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Official release

Source material from Utah Office of State Treasurer. The wording below is the issuer’s statement.

Unclaimed Property Division received a record $178.3 million in lost money in FY 2025

SALT LAKE CITY – October 3, 2025 – Utah Treasurer Marlo M. Oaks today announced the Utah Unclaimed Property Division reunited a record-breaking $43.4 million in unclaimed property with rightful owners and processed 16,981 claims in fiscal year 2025 (July 2024-June 2025).

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. The division received 812,264 new unclaimed properties totaling $178.3 million in fiscal year 2025. Unclaimed property comes from sources like dormant bank accounts, overpaid medical bills, uncashed checks, safe deposit box contents, and unpaid insurance benefits.

“The amount of unclaimed money reported to the state continues to grow as businesses improve compliance through better technology, streamline reporting processes, and increase 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 implementing improvements to address staffing shortages and increasing demands. Planned measures include hiring additional claims processors, strengthening fraud detection with a dedicated investigator, retaining specialized legal expertise for complex claims, and introducing automation to streamline identity verification.

As part of these efforts, 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 and enhanced fraud safeguards are in place, ensuring Utahns continue to receive fast, automated, and secure access to their money.

For more information and to search property, visit mycash.utah.gov.

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Release text attributed to Utah Office of State Treasurer. Consult the official publication for any subsequent corrections or updates.