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PENTAGON FEDERAL CREDIT UNION (PENNED) CUSTODIAL TRUST (VU TMA) CHECKING ACCOUNT APPLICATION New Checking Accounted Secondary Checking AccountUpdate/Verify Checking Account No.:1. MINOR INFORMATION
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VUTMA stands for Virginia Uniform Transfers to Minors Act, which allows assets to be transferred to minors without the need for a formal trust.
Any individual or entity looking to transfer assets to minors under the Virginia Uniform Transfers to Minors Act is required to file vutma.
To fill out vutma, you will need to follow the specific guidelines outlined in the Virginia Uniform Transfers to Minors Act and submit the necessary paperwork to the appropriate authority.
The purpose of vutma is to provide a means for assets to be transferred to minors in a simple and efficient manner, without the need for a formal trust.
The information that must be reported on vutma includes details of the assets being transferred, the minor who will receive the assets, and any designated custodian or trustee.
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