Yes. Even though the funds were contributed by, and are currently controlled by, the grandparent, the funds have been irrevocably transferred to your child. Consequently, the contents of the account are considered to be your child’s assets for financial disclosure purposes.
If each individual asset had a value of $1,000 or less and produced $200 or less in income, you need not report the child’s financial interests in the assets of the account or in the account itself, even if the child’s aggregate interest in the entire account exceeded the $1,000 and $200 thresholds.
This guide is not intended to provide investment advice, and you should not rely on statements in this guide when making investment decisions.
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