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Minor Has Reached Age of Majority

Look into the laws of the state in which you reside - age of majority varies by state.  Please follow the steps below to re-register a custodial account to the former minor.

 

·        When transferring the Uniform Transfer to Minor Account to the former minor we require either a Signature Guarantee or Financial Notary  

·        Only the custodian listed in the registration can instruct us to remove themselves as custodian and transfer to the minor for Uniform Transfer Minor Account (UTMA)

·        All forms need to contain original signatures and be mailed to us at one of the mailing addresses provided on the form

 

The registration needs to be updated because…

Instructions and Forms I need…

What else I need to know…

 

I would like to remove the custodian on the UTMA account to  taxable owner who has reached age of majority

 

 

 

*Example of what the registration looks like on your statement:

 

JOHN SMITH CUST

JOE SMITH

UNIF TRANSFER MIN ACT

 

 

 

·        For the current custodian to update the account from a UTMA to an individual account please complete the Change of Registration Form

 

·        If the former minor wants to change options on account (add a bank account, enroll in eDelivery, etc.)  Please complete the New Account Application

 

·        We can accept a Financial Notary from a commercial bank. Please include business card or contact information of the bank representative that provided the Notary.

 

·        The Current custodian must authorize the change from UTMA to an individual account

 

·        Need to find a financial institution to guarantee your signature? Click here

 

 

I would like to remove the Guardian on my IRA since I have reached the age of majority

 

 

 

*Example of what the registration looks like on your statement:

 

JOE SMITH IRA

JOHN SMITH GDN

·  If minor is over age 25 and guardian is still acting on account, request must be reviewed with Risk Management & Regulatory Support department to deal with on a case by case basis.

 

 

·        For the former minor to remove the guardian since you are now of age of majority, please complete a letter of instruction instructing us to remove the guardian.

 

·        You must also include a certified copy of your birth certificate (Fax / Photocopy / Original)

 

 

 

 

·        A signature guarantee or financial notary is not required to remove the guardian from a Minor IRA

 

·        We can send your original documents back to you after review, simply include a request to mail them back in your letter of instruction 

 

 

              

 

I would like to remove the Guardian on my CESA account since I have reached the age of majority

 

 

 

*Example of what the registration looks like on your statement:

 

JOE SMITH COVERDELL ESA

JOHN SMITH GDN

 

 

 

·        For the former minor to remove the guardian since you are now of age of majority, please complete a Signature Guarantee letter of instruction, instructing us to remove the guardian.

 

·        Need to find a financial institution to guarantee your signature? Click here