Transferring UGMA/UTMA assets 

ARTICLE TAKEAWAYS

  • When assets should be transferred to the beneficiary of the account
  • Requirements to transfer assets to the beneficiary

Custodians of Uniform Gifts to Minors Act (UGMA) and Uniform Transfers to Minors Act (UTMA) accounts are responsible for transferring assets to the beneficiaries when they reach the age of majority. In many states, that’s at age 21, but the rules vary.

Once the beneficiary reaches the age of majority, the following should be submitted depending on who is requesting the transfer:

If the custodian is requesting the transfer, they should complete the:

If the beneficiary is requesting the transfer, they should:

  • Birth certificate from a public agency such as the Department of Health or Bureau of Vital Statistics
  • Valid (unexpired) government-issued ID that includes the beneficial owner’s picture, name and date of birth (such as a driver’s license, passport or state-issued identification card)

UGMA/UTMA assets can be transferred into a new account established by the now-adult beneficiary as a sole or joint owner.

Other resources

UGMA/UTMA age of majority by state

Return to UGMA/UTMA accounts >

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