The Federal Election Commission closed the Orrin Hatch Presidential Exploratory Committee in June because of a lack of contributions over the years, The Salt Lake City Tribune reported Tuesday.
Hatch, R-Utah, ran for president in 1999. He pulled out of the race after garnering 1 percent in the Iowa caucuses.
Utah Democratic Party Chairman Jim Dabakis said he was saddened by the closure.
"Considering what happened in the 2000 election, it would have been a bonanza for the country to have had a President Orrin Hatch," he said.
Hatch had invited supporters to send in contributions of $36, a jab at a rival's $36 million in campaign funds. He borrowed $255,000 from his Senate campaign and technically still owes it $62,750.75.