Utah

The Utah Unclaimed Property Act, administered by the Division of Unclaimed Property in the Utah State Treasurer’s Office, governs how holders—such as financial institutions, insurers, utilities, and other businesses—must report and remit unclaimed property. From dormant accounts to uncashed checks, compliance demands diligent recordkeeping, timely reporting, and effective outreach.

Overview of Utah’s Unclaimed Property Law

Utah law requires holders to report property that has remained unclaimed after a defined dormancy period.

Common reportable property types include:

• Checking and savings accounts
• Uncashed payroll, vendor, or refund checks
• Insurance policy proceeds
• Utility deposits and balances
• Dividends, stocks, and mutual funds
• Contents of safe deposit boxes

Once property meets its dormancy threshold, holders must complete due diligence to locate the owner before reporting and remitting the property to the state.

Utah Dormancy Periods

Dormancy timelines in Utah vary by property type. Understanding these timelines is critical for ensuring timely reporting.

Due Diligence Requirements in Utah

Before reporting, holders must make a good-faith effort to contact the property owner to prevent unnecessary escheatment.

Key requirements include:

• Mail notice: Send written notice via first-class mail to the owner’s last known address for property valued at $50 or more, between 60-180 days prior to the reporting deadline. Email is also an acceptable form of communication for due diligence.
• Documentation: Maintain records of outreach attempts to demonstrate compliance in the event of an audit.
• Best practice: Supplemental outreach can improve owner reactivation and support a stronger audit defense.

Utah Reporting Deadlines and Requirements

Utah follows an annual reporting calendar:

• Report Period: July 1 - June 30
• Report and Payment Deadline: November 1

Additional requirements:

• Format: Reports must be filed electronically in NAUPA II format.
• Submission: Via the Utah State Treasurer’s secure reporting portal.
• Remittance: Accepted by ACH, Wire Transfer, or Check.
• Negative Reports: Not required, if no unclaimed property exists.

Read more on Utah’s Unclaimed Property Reporting FAQ page.

Utah’s Voluntary Disclosure Program

Holders that have missed reporting deadlines may take advantage of Utah’s Voluntary Disclosure Agreement (VDA) program to come into compliance without facing penalties or interest.

Program benefits:

• Waiver of penalties and interest for voluntarily disclosed property.
• Defined lookback period and structured remediation timeline.
• Opportunity to resolve historical compliance gaps before facing an audit.

Eligibility:

• Holder is not currently under audit by our office or one of our contracted auditors.
• Holder has not been notified of an upcoming audit by our office or one of our contracted auditors.
• Holder is a first-time participant in the program.

Read more on Utah’s Voluntary Disclosure Agreement page.

How Eisen Helps You Stay Compliant in Utah

Eisen simplifies Utah compliance with tools and services designed to reduce manual effort, improve accuracy, and enhance audit readiness.

• Escheatment Manager – Monitors dormancy thresholds across property types and generates Utah-compliant reports.
• Outreach Manager – Automates required due diligence notices, ensuring timely and well-documented owner outreach.
• Disbursement Manager – Tracks and executes secure, auditable payments (ACH, check, wire) to minimize reportable liabilities.

Eisen’s integrated platform helps organizations manage multi-state reporting seamlessly, reducing risk and administrative burden.

Transform Utah Compliance Into a Strategic Asset

Complying with Utah’s unclaimed property laws is not just about regulatory deadlines. It’s an opportunity to demonstrate transparency and operational resilience. With Eisen, you can simplify compliance processes, reconnect more owners with their property, and build trust with both customers and regulators.

Managing obligations across the country? Explore our guide to escheatment laws by state or learn more about our escheatment services.