Dormant Account and Unclaimed Property Procedures for Utah

RELEASE DATE: JUNE 8, 2026
ESTIMATED DURATION: 75 MINUTES

Credit unions holding account for members located in Utah must comply with the state’s Unclaimed Property Law, which establishes detailed requirements for identifying dormant accounts, notifying members, and transferring unclaimed property to the state. At the same time, regulators expect financial institutions to actively monitor dormant accounts to protect members from fraud, identity theft, and unauthorized activity. Understanding both the legal requirements and supervisory expectations is essential for credit unions managing inactive member relationships.

Join us for this practical webinar where we will walk through the lifecycle of dormant accounts under Utah law

During this session we will cover:

• Overview of Utah’s Unclaimed Property Law and how it applies to financial institutions
• When deposit accounts become dormant or abandoned, including the inactivity periods that apply to deposit accounts
• Types of property subject to escheat, including deposit accounts, outstanding checks, and safe deposit box contents
• Owner activity that prevents escheat, such as transactions or other indications of member interest in the account
• Due diligence notice requirements, including the timing and content of notices sent before property is reported to the state
• Reporting and remittance procedures for unclaimed property to the state
• Regulatory expectations for monitoring and protecting dormant accounts, including fraud prevention and account oversight
• Common compliance pitfalls and best practices for managing dormant and abandoned property

This session is ideal for staff working in deposit operations, accounting, compliance, and back-office functions who are responsible for monitoring inactive accounts and ensuring their credit union complies with Utah’s unclaimed property requirements while protecting member funds.

SUBJECT MATTER EXPERT

Heather Line is the Director of Compliance Support for the three-state alliance of leagues serving credit unions in California, Nevada and Utah. In this role, she helps credit unions of all sizes navigate today’s complex regulatory environment by providing practical guidance, training and in-depth regulatory analysis. Heather brings more than 30 years of financial institution compliance experience, spanning both credit unions and banks. Over the past 16 years working with credit union leagues, she has built a reputation as a trusted advisor, dynamic trainer and a (slightly unusual) living dictionary of everything compliance. She holds the BSACS and CUCE designations from America’s Credit Unions, along with a B.A. in English – a degree she has found surprisingly valuable throughout her financial services career. 

LEARNING METHOD This is an on-demand e-learning program requiring learners to interact and actively engage throughout the training. 

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