Can I move assets from an UGMA/UTMA account to Franklin Templeton 529 College Savings Plan?
Yes. To move assets from an UGMA or UTMA account into a Franklin Templeton 529 College Savings Plan, the custodian of the UGMA or UTMA account must liquidate any securities in the account, then use the cash proceeds to invest in the Franklin Templeton College Savings Plan. This liquidation is a taxable event, and the minor owner of the UGMA/UTMA assets will be taxed on any gain realized on the securities being liquidated. Investment in the 529 plan may result in assessment of a sales charge. The minor must remain the 529 plan beneficiary at all times. When the minor becomes a legal adult, he or she will gain full control of the assets. These factors have significant income, estate and gift, and financial aid qualification considerations that should be discussed in detail with your tax advisor before any decision is reached on liquidating UGMA/UTMA assets and investing them in a Franklin Templeton 529 college savings plan. To obtain a transfer form, please call 800/818-4030 or visit For
