Transfer your UGMA/UTMA to the beneficiary

You can't stay trustee of that custodial account forever. When the child you've been saving for becomes an adult-between ages 18 and 21, depending on their state- it's time for the beneficiary to take control and and turn over the assets to them. We're ready to help you start that process.


Keep in mind: To avoid restrictions on the account, the assets must be transferred to an account in the beneficiary's name within 60 days of the beneficiary reaching the legally recognized age of adulthood in their state of residence.


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Step 1: Change the account registration online

In just minutes, fill out and e-sign our simple change of registration form. Here's the information you'll need to complete our form:


  • Beneficiary name
  • Beneficiary Social Security number
  • Beneficiary email address
  • Beneficiary phone number

Once Step 1 is completed, your work as the account custodian is done.

Step 2: Beneficiary e-sign

Now it's the beneficiary's turn to complete the forms. Fidelity makes it easy-we'll email the beneficiary to instantly e-sign using the DocuSign Online Signature Service.


The beneficiary can sign on any device-no faxing, no waiting, and no paper-with the fully encrypted forms returned to us immediately.

Step 3: Fidelity transfers the assets

If everything's in order, within 5-7 business days, we'll deposit the UGMA/UTMA assets right into the beneficiary's account. Simple as that.

Waiting too long to make the transfer can be costly.

To avoid restrictions on the account, you need to transfer the account within 60 days of the beneficiary becoming an adult in their state of residence.

FAQs

  • What if the child I'm saving for already has a Fidelity account?

    If the child you're saving for already has an existing Fidelity account, we may be able to process your transfer to the child more quickly over the phone. Just call a Fidelity associate at 800-343-3548 today.

  • What if the child does not have a Fidelity account to transfer the assets to?

    When you begin a transfer online using the "Change registration" button, our Fidelity associate will contact the child directly to open a Fidelity nonretirement brokerage account if they wish.

  • When am I required to transfer the account to the child I'm saving for?

    A custodial account must be transferred to the child you're saving for within a set time frame when the child reaches a state-mandated age (between 18 and 25, depending on the state). That age is officially called the "age of termination". The custodian will be notified by Fidelity when the transfer needs to be initiated.

  • At what age do I need to transfer the account to the child I'm saving for?

    A custodial account must be transferred to the child you're saving for within a certain period of time once the child reaches a state-mandated age (between 18 and 25, depending on the state). The custodian will be notified by Fidelity when the transfer needs to be initiated.

  • What if I don't want to turn the assets over to the child I'm saving for?

    A custodial account will remain open until the custodian initiates a transfer to the child they’re saving for. However, failure to transfer at the child's state-mandated age will result in restrictions on the account. These include a restriction on new deposits. The custodian will be allowed to sell existing holdings but will not be able to purchase new positions or add to existing positions. Many account features, including check writing, automated withdrawal plans, and debit cards, will also be disabled.

  • What does the restriction do?

    The restrictions placed on a custodial account limit certain activities a custodian may undertake. Generally speaking, you may still sell investments and transfer assets to the child you're saving for, but you may not make new deposits or initiate new investments. Many account features, including check writing, automated withdrawal plans, and debit cards, will also be disabled.

  • Can I transfer the assets to a trust for the benefit of the child I'm saving for, naming myself as trustee?

    When the child you're saving for reaches the age of adulthood in their state, you (as the custodian) are allowed to transfer the custodial account assets to a trust, naming yourself as trustee. You must complete the Fidelity Account® Trust Application (PDF), supporting trust documentation, and a Fidelity Letter of Instruction, signed by both the custodian and the child you're saving for, which instructs Fidelity to transfer the assets to the new trust.

  • Can I transfer to another broker?

    Custodial account assets may only be transferred to the child you're saving for. A transfer of assets (TOA) to another broker is not available because TOAs require a transfer to a like registration. However, the funds can be wired or sent via check as long as they are payable to the child you're saving for. Alternatively, the assets can be transferred to an account in the child's name at Fidelity, allowing them to make disbursements or transfers.

Ready to start?

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