Share savings account for children

It is possible to transfer your free mutual fund shares to the child’s share savings account. This will be regarded as a taxable realisation and trigger tax on profits. Call us on +47 915 04800 and we’ll help you.

No, it is not possible for you to buy and sell the child’s mutual fund shares in a share savings account in your online bank. Buying and selling mutual fund shares for minors must be done via a form signed by the guardian(s).

See the form here

It is not possible to buy individual shares for minors.

As a rule, taxable assets and income for children who are 16 years old or younger at the end of the fiscal year are taxed as one half for each parent when the parents live together.

The rules for the Public Guardian's Office and bank deposits exceeding 2 G in a share savings account for children are the same as for normal savings products and mutual funds.

Should the total savings amount exceed 2 G, the Public Guardian's Office may get involved, unless a gift letter expressing a reservation is written.

G is the National Insurance basic amount and is adjusted annually.

As of 1 May 2020, 1 G is NOK 101 351.

As a guardian you can save in your own share savings account in order to give the savings to the child as a gift. Remember that if you are going to give a share savings account as a gift to a minor, it is important that you complete a gift letter. Among other things, this is important to ensure that the funds will be exempt from administration by the Public Guardian's Office. You will find a form for transferring shares to minors here.