Uniform Gift/Transfer to Minor UGMA (Uniform Gifts to Minors Act) and UTMA (Uniform Transfer to Minors Act) represent a standardization and simplification of individual states' legal control over gifts made by adults to minors. The authority for this account is the custodian. There may be only one custodian per account, and only one minor per account. The account must use the minor's Social Security Number and assets invested used for the benefit of the minor. The enacting state may be the donor's, custodian's, or minor's state of residence. Once established, the enacting state stays the same regardless of change of address.
Open a new UGMA/UTMA Account - Registration Checklist In order to complete the account registration process, you will need to have certain personal financial information available to you. Please review and print this checklist before you begin. Open Account
The Social Security Number for the minor.
The names of the Oakmark funds in which you want to invest. (Click here for an overview of the Oakmark Funds.)
Your Bank Account Number (either checking or savings, whichever you prefer).
Your Bank's Routing Number - See below for an example of where to find your bank's routing number.
