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Mailing Address for Custodial Account

Question: 
When mailing statements, notices, etc. for a custodial account, would the mailing address be the address of the minor or the custodian? Can a mail "in care of" be set up so that the mail goes to the custodian or does it have to be mailed to the minor?
Answer: 

by Brian Crow:

Unless your state law differs, there is no requirement for the destination of statements. The most logical recipient of statements is the person who opened the account, which is most likely the custodian.

Consider that the custodian may not even want the minor to be made aware that the account exists. Why require that the minor receive statements?

Answer: 

by John Burnett:

Under a custodial account, such as an account under the UTMA, the custodian, not the minor, is the account customer. The minor may be the beneficial owner of the funds in the account, but not of the account itself. If the custodian wants the minor to know about the account and what's in it, the custodian can share that information with the minor.

First published on 10/27/2019

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