67-4a-503. Notice by administrator.
(1) The administrator shall give notice to an apparent owner that property presumed abandoned and that appears to be owned by the apparent owner is held by the administrator under this chapter.
(2) In providing notice under Subsection (1), the administrator shall:
(a) except as otherwise provided in Subsection (2)(b), send written notice by first-class United States mail to each apparent owner of property valued at $50 or more held by the administrator, unless the administrator determines that a mailing by first-class United States mail would not be received by the apparent owner, and, in the case of a security held in an account for which the apparent owner had consented to receiving electronic mail from the holder, send notice by electronic mail if the electronic mail address of the apparent owner is known to the administrator instead of by first-class United States mail; or
(b) send the notice to the apparent owner's electronic mail address if the administrator does not have a valid United States mail address for an apparent owner, but has an electronic mail address that the administrator does not know to be invalid.
(3) In addition to the notice under Subsection (2), the administrator shall publish every 12 months in at least one English language newspaper of general circulation in this state notice of property held by the administrator, which shall include:
(a) the total value of property received by the administrator during the preceding 12-month period, taken from the reports under Section 67-4a-401;
(b) the total value of claims paid by the administrator during the preceding 12-month period;
(c) the Internet web address of the unclaimed property website maintained by the administrator;
(d) a telephone number and electronic mail address to contact the administrator to inquire about or claim property; and
(e) a statement that a person may access the Internet by a computer to search for unclaimed property, and a computer may be available as a service to the public at a local public library.
(4)
(a) The administrator shall maintain a website accessible by the public and electronically searchable that contains the names reported to the administrator of apparent owners for whom property is being held by the administrator.
(b) The administrator is not required to list property on the website if:
(i) no owner name was reported;
(ii) a claim has been initiated or is pending for the property;
(iii) the Office of the State Treasurer has made direct contact with the apparent owner of the property; or
(iv) the administrator reasonably believes exclusion of the property is in the best interests of both the state and the owner of the property.
(5) The website or database maintained under Subsection (4) shall include instructions for filing with the administrator a claim to property and a printable claim form with instructions.
(6)
(a) At least annually, the administrator shall notify the State Tax Commission of the names and social security numbers or federal identification numbers of any persons appearing to be owners of abandoned property under this chapter.
(b) The State Tax Commission shall:
(i) determine if any person under Subsection (6)(a) has filed a Utah income tax return in that year; and
(ii) provide notice to a person described in Subsection (6)(b)(i) that directs the person to access the website described in Subsection (4) for information on property that may be held by the administrator in that person's name.
(c) Subject to Subsection (7), in order to facilitate the return of property under this Subsection (6), the administrator and the State Tax Commission may enter into an interagency agreement concerning protection of confidential information, data match rules, and other issues.
(7) If the administrator and the State Tax Commission enter into an interagency agreement under Subsection (6)(c), for each person that is owed property that has a value of $2,000 or less:
(a) the administrator shall deliver the property or pay the amount owed to the person in the manner provided under Section 67-4a-905; and
(b) the person is not required to file a claim under Section 67-4a-903.
(8) The administrator may use publicly and commercially available databases to find and update or add information for apparent owners of property held by the administrator.
(9) The State Tax Commission may bill the administrator to recover the State Tax Commission's costs for providing the service under this section.
(10) In addition to giving notice under Subsection (2), publishing the information under Subsection (3), and maintaining the website or database under Subsection (4), the administrator may use other printed publication, telecommunication, the Internet, or other media to inform the public of the existence of unclaimed property held by the administrator.
Amended by Chapter 459, 2018 General Session
