Custodial Accounts (UTMA)

Save for your child or grandchild's future needs.

Key Features

A custodial account under the Uniform Transfers to Minors Act (UTMA), available through PNC Investments, allows you to save for your child or grandchild's future needs. This includes higher education expenses.

Open to Anyone

Anyone can open an account; no income restrictions or qualifications to be met.

Unlimited Contributions

There is no limit on contribution amounts or the number of contributions you can make.

Beneficiary Gains Control

Account beneficiary gains control of the funds at age 18 or 21, based on your state.

A custodial account under the Uniform Transfers to Minors Act (UTMA) allows you to save for your child or grandchild’s future needs, including (but not limited to) higher education expenses. Although custodial accounts are not tax-advantaged accounts, earnings and withdrawals may be subject to the child’s tax rate rather than the account holder’s.

  • A means of saving for a child or grandchild’s future needs, including higher education expenses.
  • Anyone can open an account; there are no income restrictions or qualifications to be met.
  • Allows for unlimited contributions and unlimited contribution amounts.
  • Account holder controls all investment decisions.
  • Withdrawals can be made from the account to cover expenses for the benefit of the child.
  • The child gains control of the account when he/she reaches age 18 (or 21, depending on the state's age of majority).

Pricing & Fees

For pricing and fee information, please contact PNC Investments or see the PNC Investments Products and Services Overview.

Gift Tax Exclusion

Contributions to custodial accounts under UTMA qualify for the annual federal gift tax exclusion, up to $17,000 for 2023.

Beneficiary Guidelines

Though there are a few exceptions, in most cases the beneficiary has no right to the assets in the account until he or she reaches age 18 (or 21, in some states).

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Associated Products & Services

The following information may be provided by PNC Investments affiliates, including PNC Bank, PNC Private Bank or PNC Institutional Asset Management®:

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