Utah SB0155 amends the Unclaimed Property Act to modify the timeline for presuming property abandoned in tax-deferred accounts and allows the State.

Utah SB0155 amends the Unclaimed Property Act by changing the dates on which property held in tax-deferred and tax-exempt accounts is presumed abandoned. Specifically, it adjusts the timeline for when property in such accounts is considered abandoned if not claimed by the owner. Additionally, the bill allows the State Tax Commission to share identifying information with the unclaimed property administrator to facilitate the return of unclaimed property. The bill also includes technical changes to the Utah Code. No money is appropriated in this bill.

Utah SB0155 amends the Unclaimed Property Act to modify the timeline for presuming property abandoned in tax-deferred accounts and allows the State.

Utah SB0155 amends the Unclaimed Property Act by changing the dates on which property held in tax-deferred and tax-exempt accounts is presumed abandoned. Specifically, it adjusts the timeline for when property in such accounts is considered abandoned if not claimed by the owner. Additionally, the bill allows the State Tax Commission to share identifying information with the unclaimed property administrator to facilitate the return of unclaimed property. The bill also includes technical changes to the Utah Code. No money is appropriated in this bill.