Transferring an UGMA/UTMA When Custodianship Ends
Once a minor reaches the age at which the custodianship terminates according to the state’s specific Uniform Gifts to Minors Act/Uniform Transfers to Minors Act (UGMA/UTMA) law, the custodian must transfer the fund shares to the sole name of the minor. The custodian must provide the following:
- The custodian must provide a completed Instruction to Terminate Custodianship form. The form must be signed by the custodian (with signature guarantee, if applicable) confirming the minor has reached the applicable age of termination.
- Any outstanding shares in certificate form must be returned to Franklin Templeton Investor Services, LLC, through a traceable method of delivery (i.e. express, certified or registered mail, etc.).
- The former minor (who is to be the sole registered owner of the shares) will need to complete and sign a new Account Application.
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