On Good Friday, the New York Stock Exchange and Capital Group’s U.S. offices will be closed.

In observance of Good Friday, the New York Stock Exchange and Capital Group’s U.S. offices will be closed on Friday, April 3.

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:

  • A birth certificate from a public agency such as the Department of Health or Bureau of Vital Statistics
  • An unexpired government-issued photo ID that includes the beneficiary’s 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.

log in to client accounts

Related content

UGMA/UTMA age of majority by state

Return to UGMA/UTMA accounts >

Contact us

Have questions or need additional support?
Contact us 8:00 a.m. to 7:00 p.m. ET, Monday through Friday.

(800) 421-0180

For financial professionals only. Not for use with the public.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
Use of this website is intended for U.S. residents only. Use of this website and materials is also subject to approval by your home office.

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.

Financial professionals should always contact their back office to determine if there are any restrictions on the use of American Funds products, tools, services, websites and literature.