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Custodial Accounts (UTMA)
Save for your child or grandchild's future needs.
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.
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.
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®:
This material is meant to educate and not to provide legal, tax, accounting or investment advice. PNC Investments and its affiliates and vendors do not provide legal, tax or accounting advice.
Important Investor Information: Brokerage and insurance products are:
Not FDIC Insured • Not Bank Guaranteed • Not A Deposit
Not Insured By Any Federal Government Agency • May Lose Value
Securities products and brokerage services as well as managed account advisory services to U.S. based clients are offered by PNC Investments LLC, a registered broker-dealer and a registered investment adviser and Member FINRA and SIPC. Managed account advisory services for non-US based clients are offered by PNC Managed Account Solutions, Inc., a registered investment adviser. Annuities and other insurance products are offered through PNC Insurance Services, LLC, a licensed insurance agency (CA License #0B57695).
PNC Investments, PNC Insurance Services and PNC Managed Account Solutions do not provide legal, tax, or accounting advice.
This document provides information on additional compensation that PNC Investments receives from certain mutual fund companies, 529 plan program managers and insurance companies.
This material does not constitute an offer or solicitation in any jurisdiction where or to any person to whom it would be unauthorized or unlawful to do so.
PNC Investments does not guarantee the performance of any investment. Investing results may vary. Investments may lose money. Diversification and asset allocation may not prevent a loss of investment.
PNC Investments LLC, PNC Insurance Services, LLC and PNC Bank, National Association are each affiliated with The PNC Financial Services Group, Inc.
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