In a UTMA account, under whose tax ID is the account opened?

In a Uniform Transfers to Minors Act (UTMA) account, the account is opened under the tax identification number of the minor. This is because the primary purpose of a UTMA account is to hold assets for the benefit of the minor, and the minor is the legal owner of the assets, even though an adult (like a guardian or parent) manages the account until the minor reaches the age of majority. This setup facilitates the savings or gifting of assets to a minor while providing certain tax advantages, as any income generated by the account would be reported under the minor's tax identification number. This characteristic is essential for understanding the purpose and structure of UTMA accounts.