If a donor revokes/closes the UGMA/UTMA account before the child reaches the age of
Fraud or similar fault is found;
Presume that no gift was intended, and
Count the value of the account as a resource of the donor back to the date the "gift"
was transferred to the child. (Use the date of eligibility if the gift was transferred
prior to the date of SSI eligibility.)
Fraud or similar fault is not found;
Count the "gift" property as income to the donor in the month the UGMA/UTMA was revoked
and a resource thereafter unless rules of administrative finality do not permit counting
the "gift" that far back; i.e., revocation occurred more than 2 years ago.