No. 3985 operated in revenue service until 1957. It was then stored in the roundhouse in Cheyenne, Wyoming, until 1975, when it was placed outdoors beside the Cheyenne depot. In March 1981, after a group of Union Pacific employees restored the locomotive to operating condition, it was placed into excursion service as part of the Union Pacific's heritage fleet and became the world's largest operational steam locomotive. Mechanical problems took it offline in 2010, after which it was stored at the Union Pacific's Steam Shops in Cheyenne.
In May 2019, the title of largest operational steam locomotive passed to the newly restored 4-8-8-4 "Big Boy" Union Pacific 4014. No. 3985, still in poor mechanical condition, was retired from excursion service in January 2020. In April 2022, UP officials announced that the company would donate the locomotive to the Railroading Heritage of Midwest America (RRHMA), which is now restoring the locomotive to operating condition.