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Accounts to Help You Save for Kids

Uniform Transfers to Minors Act (UTMA) Account

The Uniform Transfers to Minors Act (UTMA) custodial account allows an adult to establish and manage assets for a minor child—including stocks and securities. Once the custodial savings account is established on behalf of the child, the assets are considered irrevocable gifts that belong to the child.

Why it May Be Right for You

UTMA accounts with Thrivent Mutual Funds offer low minimum contributions to our sophisticated yet simple funds, so it’s easy to get started. And by setting up a recurring investment plan, you can keep giving throughout the year.

Whereas other custodial accounts can only be used for educational expenses, assets established through UTMA can be used for the child's benefit in a variety of ways.

UTMA Highlights


  • Unlimited
  • Not tax-deductible, may be subject to the gift tax depending on the amount

Thrivent Minimum Investment

  • $2,000 per Thrivent mutual fund without recurring contributions except for Thrivent Money Market Fund which is $1,000, or
  • $50 monthly recurring contribution for all Thrivent mutual funds except for the Thrivent Money Market Fund or Thrivent Limited Maturity Bond Fund which are $100 per month (also applies to subsequent investments)

Who Has Control

  • Custodian (who is named by the donor).  Once the beneficiary reaches age of majority (usually age 18-21, depending on state), he or she can use the assets for any purpose
  • Once named, the beneficiary may not be changed


  • UTMA assets belong to the child, so investment income may be subject to the "kiddie tax"
  • In 2019 the first $1,100 of a child’s unearned income is exempt from taxes, while the next $1,100 is taxed at the child’s rate (which is usually much lower than the parents' or other donor’s)
  • The Kiddie Tax applies to any of a child’s unearned income under $2,200. Any amount over will be taxed at the trust tax rate
  • The Kiddie Tax may NOT apply depending on amount of unearned income


  • Funds must be used for the benefit of the child (other than parental obligations)
  • The custodian is responsible for ensuring proper usage of the funds
  • No requirement that dollars be used for education

Financial Aid Impact

Does this asset impact federal financial aid?

  • Yes, the account is considered an asset of the child


  • Semiannual low balance fee of $10 may apply for those accounts not maintaining minimum balance requirements.  See the Prospectus for more information.
  • Additional account fees may apply for certain services and are redeemed directly from your account. Examples include overnight delivery or wire fees.