Custodial Accounts (UTMA)

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.

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Key Features
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

Features & Benefits

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)


Associated Products & Services

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

Virtual Wallet Student

Virtual Wallet Student from PNC is a primary checking, interest-bearing checking and savings account all rolled into one student bank account.

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529 Plans

A 529 plan, provided by PNC Investments, is a tax-advantaged investment vehicle designed to encourage saving for the future higher education expenses of the plan's beneficiary.

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Roth IRA

If you meet certain income qualifications, you can use a Roth IRA to invest towards your retirement with tax-free earnings, with potential tax-free withdrawals in retirement.

Learn More »

Important Legal Disclosures & Information

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, brokerage services and managed account advisory services are offered by PNC Investments LLC, a registered broker-dealer and a registered investment adviser and member FINRA, and SIPC. Annuities and other insurance products are offered through PNC Insurance Services, LLC, a licensed insurance agency.

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