UGMA/UTMA
accounts
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Open
Application and account options
Account application
Use this application to open a Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) account.
Complete the Application for Individual or Joint Accounts.
Successor custodian designation
Use this form if the state in which the custodian resides allows a successor custodian to be designated in the event the original custodian resigns, passes away, is incapacitated or is removed.
Complete the UGMA/UTMA Successor Custodian Designation form.
Account options
Log in to Client Accounts to add or update account options like automatic investment, exchange or rebalance plans as well as to change dividend and capital gain payment options. Use the Mutual Fund Account Options form when adding other options like wire redemptions, check writing or redemptions via Automated Clearing House.
Log in to Client Accounts.
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See guidelines on eligibility, funding and more in Opening UGMA/UTMA accounts.
Transfers
Open an UGMA/UTMA account with funds from an external account
Use this form to move non-retirement/nonqualified assets to Capital Group via check or in-kind transfer. This form should be submitted directly to the sending company.
Complete the Request to Move Non-retirement/Nonqualified Assets.
Open an account with a gift of shares
Use this form in addition to an application to transfer existing American Funds shares to open a new UGMA/UTMA account.
Complete the Gift of Shares Request.
For guidelines on moving funds, how transfers affect your clients’ taxes and more, visit UGMA/UTMA tax information.
Common questions
There are many differences between these three ways your clients can save. Review Compare education savings plans for income and contribution limits, tax treatment, how the funds can be used and more.
UGMA/UTMA accounts can be aggregated with any other accounts that the minor, the minor’s siblings (under the age of 21) and/or their parents (or legal guardians) have with Capital Group. Refer to a prospectus for full details about our aggregation policy.
Currently, only Maryland, Virginia and Tennessee allow for joint custodians. In these cases, a successor custodian cannot be designated.
The age of majority is when the assets can be claimed by the beneficiary. The state of residence of the custodian usually determines the age of majority for the account, unless otherwise provided. To determine the age of majority in a specific state, review the chart in UGMA/UTMA age of majority by state.
No, there are no investment limits. However, investments count as gifts in the year in which they are made. Therefore, an investment must be made by the last business day of the year to count as a gift for that year. Refer to UGMA/UTMA investments for more information.
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Update
Update client’s personal information
Update custodian’s name
Complete this form and submit with supporting documentation. See the form for requirements.
Complete the Name Change Request.
Update custodian’s address
Update the address via the custodian’s online account. Use the options on the right side of the page.
Note: There is a 10-calendar-day wait to process a withdrawal to the new address unless the withdrawal request is submitted in writing with a signature guarantee.
Log in to Client Accounts.
Update custodian’s contact information
The custodian’s email address and/or phone number can be updated on DST Vision or by contacting us.
Log in to DST Vision.
For additional resources to help manage your client accounts, refer to General account management.
Add/update custodian’s bank account
Link a bank account to buy shares
Add/update the bank information via the custodian’s online account. Use the options on the right side of the page.
Log in to Client Accounts.Link a bank account to sell shares
Use this form to add or update client bank information.
Note: Unless the form is signature guaranteed, there is a 10-calendar-day wait to process a withdrawal to the new bank account.
Complete the Add/Update Bank Information form.
Review eligibility, restrictions, requirements and more in Managing client banking information.
Account registration changes
Remove a custodian
If the beneficiary has reached the age of majority, use these forms to remove the custodian.
Note: If the beneficiary is signing the transfer form, a photocopy of their birth certificate or government-issued ID is required.
Complete the Transfer/Registration Change Request and, if applicable, the Application for Individual or Joint Accounts.
Change a custodian
Use these forms to change the custodian.
Note: A signature guarantee is required.
Complete the Transfer/Registration Change Request and, if applicable, the Application for Individual or Joint Accounts.
If the custodian or beneficiary has experienced a major life event, visit Life events for checklists to assist with account updates they may need to consider.
Common questions
The custodian is required to transfer the assets to the beneficiary. Refer to Transferring UGMA/UTMA assets for more information.
Complete the UGMA/UTMA Successor Custodian Designation form.
No, the beneficiary cannot be changed. Investments into UGMA/UTMA accounts are considered irrevocable gifts to the minor.
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Transact
Investments
Make a one-time investment online
Access the client’s account online and click Buy. Be sure to have the client’s bank information on hand if it’s not already on file.
Log in to Client Accounts.
Make a one-time investment via check
Checks must be made payable to American Funds Service Company and should include the account number and investment instructions. Mail the check to the service center near you.
Find a service center.
Set up automatic investments
Access the client’s account online to add or update an automatic investment plan and click on Automatic Transactions.
Log in to Client Accounts.
Gift shares
Use this form to gift shares to an UGMA/UTMA account. If your client wants to receive a reduced breakpoint on an investment made as a gift of shares, be sure to send a letter of instruction. Refer to Gift of shares for additional information.
Complete the Gift of Shares Request.
Visit UGMA/UTMA investments for more information on one-time, automatic and gift contributions. For more information about setting up banking information, refer to Managing client banking information.
Withdrawals
Make a one-time withdrawal
Funds can be sent via check or Automated Clearing House (ACH) if the client’s bank information is already linked. The withdrawal will be reported under the beneficiary’s Social Security number. Access the client’s account online and click Sell.
Log in to Client Accounts.
Set up automatic withdrawals
Funds can be sent automatically by check or via ACH by setting up an automatic withdrawal plan.
Complete the Mutual Fund Account Options form.
Visit UGMA/UTMA withdrawals for additional details about one-time withdrawals and setting up and managing automatic withdrawal plans.
Exchanges and rebalances
Complete a one-time exchange or rebalance
A one-time exchange or rebalance can be processed by logging in to Client Accounts and selecting the appropriate option: Exchange or Rebalance.
Log in to Client Accounts.
Set up an automatic exchange or rebalance plan
Automatic exchange and rebalance plans can be set up or modified online. Access the client’s account online and click Automatic Transactions.
Log in to Client Accounts.
Visit UGMA/UTMA exchanges and rebalances for additional details about one-time and automatic exchanges and rebalances.
Moving assets
Moving UGMA/UTMA assets to the beneficiary
Use these forms when the beneficiary has reached the age of majority. In cases where the beneficiary is signing the transfer form, we also need a photocopy of their birth certificate or a government-issued ID card.
Complete the Transfer/Registration Change Request and the Application for Individual or Joint Accounts.
Moving UGMA/UTMA assets into a CollegeAmerica® account
Submit a letter of instruction. A signature guarantee from the UGMA/UTMA custodian is required if the custodian or beneficiary is to be changed on the CollegeAmerica account. If the receiving account does not already exist, you must first complete an application.
Complete the CollegeAmerica Account Application and the CollegeAmerica Supplemental Account Application.
Common questions
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Contact us
Have questions or need additional support?
Contact us 8:00 a.m. to 7:00 p.m. ET, Monday through Friday.
For financial professionals only. Not for use with the public.
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Use of this website is intended for U.S. residents only.
The guidelines and procedures provided in the Account Resource Center may not apply to networked accounts or accounts not directly held by American Funds. The guidelines and procedures provided also apply only to those retirement accounts or Coverdell ESAs invested in American Funds with Capital Bank and Trust Company (CB&T) as custodian. The guidelines and procedures provided in the Account Resource Center do not apply to plans held in our retirement plan solutions — PlanPremier, PlanPremier-TPA or RecordkeeperDirect. Information on the Account Resource Center may change periodically, and previously printed information may not be current. Please refer to capitalgroup.com for the most current information available.
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