diff --git a/x/auth/legacy/v0_39/types.go b/x/auth/legacy/v0_39/types.go
index 419ffe39020d..55ecec23332c 100644
--- a/x/auth/legacy/v0_39/types.go
+++ b/x/auth/legacy/v0_39/types.go
@@ -3,6 +3,472 @@ package v039
 // DONTCOVER
 // nolint
 
+import (
+	"bytes"
+	"errors"
+	"fmt"
+	"sort"
+	"strings"
+
+	"github.com/tendermint/tendermint/crypto"
+
+	"github.com/cosmos/cosmos-sdk/codec"
+	"github.com/cosmos/cosmos-sdk/codec/legacy"
+	sdk "github.com/cosmos/cosmos-sdk/types"
+	v034auth "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_34"
+)
+
 const (
 	ModuleName = "auth"
 )
+
+type (
+	// partial interface needed only for amino encoding and sanitization
+	Account interface {
+		GetAddress() sdk.AccAddress
+		GetAccountNumber() uint64
+		GetCoins() sdk.Coins
+		SetCoins(sdk.Coins) error
+	}
+
+	GenesisAccount interface {
+		Account
+
+		Validate() error
+	}
+
+	GenesisAccounts []GenesisAccount
+
+	GenesisState struct {
+		Params   v034auth.Params `json:"params" yaml:"params"`
+		Accounts GenesisAccounts `json:"accounts" yaml:"accounts"`
+	}
+
+	BaseAccount struct {
+		Address       sdk.AccAddress `json:"address" yaml:"address"`
+		Coins         sdk.Coins      `json:"coins,omitempty" yaml:"coins,omitempty"`
+		PubKey        crypto.PubKey  `json:"public_key" yaml:"public_key"`
+		AccountNumber uint64         `json:"account_number" yaml:"account_number"`
+		Sequence      uint64         `json:"sequence" yaml:"sequence"`
+	}
+
+	BaseVestingAccount struct {
+		*BaseAccount
+
+		OriginalVesting  sdk.Coins `json:"original_vesting"`
+		DelegatedFree    sdk.Coins `json:"delegated_free"`
+		DelegatedVesting sdk.Coins `json:"delegated_vesting"`
+
+		EndTime int64 `json:"end_time"`
+	}
+
+	vestingAccountJSON struct {
+		Address          sdk.AccAddress `json:"address" yaml:"address"`
+		Coins            sdk.Coins      `json:"coins,omitempty" yaml:"coins"`
+		PubKey           crypto.PubKey  `json:"public_key" yaml:"public_key"`
+		AccountNumber    uint64         `json:"account_number" yaml:"account_number"`
+		Sequence         uint64         `json:"sequence" yaml:"sequence"`
+		OriginalVesting  sdk.Coins      `json:"original_vesting" yaml:"original_vesting"`
+		DelegatedFree    sdk.Coins      `json:"delegated_free" yaml:"delegated_free"`
+		DelegatedVesting sdk.Coins      `json:"delegated_vesting" yaml:"delegated_vesting"`
+		EndTime          int64          `json:"end_time" yaml:"end_time"`
+
+		// custom fields based on concrete vesting type which can be omitted
+		StartTime      int64   `json:"start_time,omitempty" yaml:"start_time,omitempty"`
+		VestingPeriods Periods `json:"vesting_periods,omitempty" yaml:"vesting_periods,omitempty"`
+	}
+
+	ContinuousVestingAccount struct {
+		*BaseVestingAccount
+
+		StartTime int64 `json:"start_time"`
+	}
+
+	DelayedVestingAccount struct {
+		*BaseVestingAccount
+	}
+
+	Period struct {
+		Length int64     `json:"length" yaml:"length"` // length of the period, in seconds
+		Amount sdk.Coins `json:"amount" yaml:"amount"` // amount of coins vesting during this period
+	}
+
+	Periods []Period
+
+	PeriodicVestingAccount struct {
+		*BaseVestingAccount
+		StartTime      int64   `json:"start_time" yaml:"start_time"`           // when the coins start to vest
+		VestingPeriods Periods `json:"vesting_periods" yaml:"vesting_periods"` // the vesting schedule
+	}
+
+	ModuleAccount struct {
+		*BaseAccount
+
+		Name        string   `json:"name" yaml:"name"`
+		Permissions []string `json:"permissions" yaml:"permissions"`
+	}
+
+	moduleAccountPretty struct {
+		Address       sdk.AccAddress `json:"address" yaml:"address"`
+		Coins         sdk.Coins      `json:"coins,omitempty" yaml:"coins"`
+		PubKey        string         `json:"public_key" yaml:"public_key"`
+		AccountNumber uint64         `json:"account_number" yaml:"account_number"`
+		Sequence      uint64         `json:"sequence" yaml:"sequence"`
+		Name          string         `json:"name" yaml:"name"`
+		Permissions   []string       `json:"permissions" yaml:"permissions"`
+	}
+)
+
+func NewGenesisState(params v034auth.Params, accounts GenesisAccounts) GenesisState {
+	return GenesisState{
+		Params:   params,
+		Accounts: accounts,
+	}
+}
+
+func NewBaseAccountWithAddress(addr sdk.AccAddress) BaseAccount {
+	return BaseAccount{
+		Address: addr,
+	}
+}
+
+func NewBaseAccount(
+	address sdk.AccAddress, coins sdk.Coins, pk crypto.PubKey, accountNumber, sequence uint64,
+) *BaseAccount {
+
+	return &BaseAccount{
+		Address:       address,
+		Coins:         coins,
+		PubKey:        pk,
+		AccountNumber: accountNumber,
+		Sequence:      sequence,
+	}
+}
+
+func (acc BaseAccount) GetAddress() sdk.AccAddress {
+	return acc.Address
+}
+
+func (acc *BaseAccount) GetAccountNumber() uint64 {
+	return acc.AccountNumber
+}
+
+func (acc *BaseAccount) GetCoins() sdk.Coins {
+	return acc.Coins
+}
+
+func (acc *BaseAccount) SetCoins(coins sdk.Coins) error {
+	acc.Coins = coins
+	return nil
+}
+
+func (acc BaseAccount) Validate() error {
+	if acc.PubKey != nil && acc.Address != nil &&
+		!bytes.Equal(acc.PubKey.Address().Bytes(), acc.Address.Bytes()) {
+		return errors.New("pubkey and address pair is invalid")
+	}
+
+	return nil
+}
+
+func NewBaseVestingAccount(
+	baseAccount *BaseAccount, originalVesting, delegatedFree, delegatedVesting sdk.Coins, endTime int64,
+) *BaseVestingAccount {
+
+	return &BaseVestingAccount{
+		BaseAccount:      baseAccount,
+		OriginalVesting:  originalVesting,
+		DelegatedFree:    delegatedFree,
+		DelegatedVesting: delegatedVesting,
+		EndTime:          endTime,
+	}
+}
+
+func (bva BaseVestingAccount) MarshalJSON() ([]byte, error) {
+	alias := vestingAccountJSON{
+		Address:          bva.Address,
+		PubKey:           bva.PubKey,
+		AccountNumber:    bva.AccountNumber,
+		Sequence:         bva.Sequence,
+		OriginalVesting:  bva.OriginalVesting,
+		DelegatedFree:    bva.DelegatedFree,
+		DelegatedVesting: bva.DelegatedVesting,
+		EndTime:          bva.EndTime,
+	}
+
+	return legacy.Cdc.MarshalJSON(alias)
+}
+
+func (bva *BaseVestingAccount) UnmarshalJSON(bz []byte) error {
+	var alias vestingAccountJSON
+	if err := legacy.Cdc.UnmarshalJSON(bz, &alias); err != nil {
+		return err
+	}
+
+	bva.BaseAccount = NewBaseAccount(alias.Address, alias.Coins, alias.PubKey, alias.AccountNumber, alias.Sequence)
+	bva.OriginalVesting = alias.OriginalVesting
+	bva.DelegatedFree = alias.DelegatedFree
+	bva.DelegatedVesting = alias.DelegatedVesting
+	bva.EndTime = alias.EndTime
+
+	return nil
+}
+
+func (bva BaseVestingAccount) GetEndTime() int64 {
+	return bva.EndTime
+}
+
+func (bva BaseVestingAccount) Validate() error {
+	if (bva.Coins.IsZero() && !bva.OriginalVesting.IsZero()) ||
+		bva.OriginalVesting.IsAnyGT(bva.Coins) {
+		return errors.New("vesting amount cannot be greater than total amount")
+	}
+
+	return bva.BaseAccount.Validate()
+}
+
+func NewContinuousVestingAccountRaw(bva *BaseVestingAccount, startTime int64) *ContinuousVestingAccount {
+	return &ContinuousVestingAccount{
+		BaseVestingAccount: bva,
+		StartTime:          startTime,
+	}
+}
+
+func (cva ContinuousVestingAccount) Validate() error {
+	if cva.StartTime >= cva.EndTime {
+		return errors.New("vesting start-time cannot be before end-time")
+	}
+
+	return cva.BaseVestingAccount.Validate()
+}
+
+func (cva ContinuousVestingAccount) MarshalJSON() ([]byte, error) {
+	alias := vestingAccountJSON{
+		Address:          cva.Address,
+		PubKey:           cva.PubKey,
+		AccountNumber:    cva.AccountNumber,
+		Sequence:         cva.Sequence,
+		OriginalVesting:  cva.OriginalVesting,
+		DelegatedFree:    cva.DelegatedFree,
+		DelegatedVesting: cva.DelegatedVesting,
+		EndTime:          cva.EndTime,
+		StartTime:        cva.StartTime,
+	}
+
+	return legacy.Cdc.MarshalJSON(alias)
+}
+
+func (cva *ContinuousVestingAccount) UnmarshalJSON(bz []byte) error {
+	var alias vestingAccountJSON
+	if err := legacy.Cdc.UnmarshalJSON(bz, &alias); err != nil {
+		return err
+	}
+
+	cva.BaseVestingAccount = &BaseVestingAccount{
+		BaseAccount:      NewBaseAccount(alias.Address, alias.Coins, alias.PubKey, alias.AccountNumber, alias.Sequence),
+		OriginalVesting:  alias.OriginalVesting,
+		DelegatedFree:    alias.DelegatedFree,
+		DelegatedVesting: alias.DelegatedVesting,
+		EndTime:          alias.EndTime,
+	}
+	cva.StartTime = alias.StartTime
+
+	return nil
+}
+
+func (dva DelayedVestingAccount) Validate() error {
+	return dva.BaseVestingAccount.Validate()
+}
+
+func (dva DelayedVestingAccount) MarshalJSON() ([]byte, error) {
+	alias := vestingAccountJSON{
+		Address:          dva.Address,
+		PubKey:           dva.PubKey,
+		AccountNumber:    dva.AccountNumber,
+		Sequence:         dva.Sequence,
+		OriginalVesting:  dva.OriginalVesting,
+		DelegatedFree:    dva.DelegatedFree,
+		DelegatedVesting: dva.DelegatedVesting,
+		EndTime:          dva.EndTime,
+	}
+
+	return legacy.Cdc.MarshalJSON(alias)
+}
+
+// UnmarshalJSON unmarshals raw JSON bytes into a DelayedVestingAccount.
+func (dva *DelayedVestingAccount) UnmarshalJSON(bz []byte) error {
+	var alias vestingAccountJSON
+	if err := legacy.Cdc.UnmarshalJSON(bz, &alias); err != nil {
+		return err
+	}
+
+	dva.BaseVestingAccount = &BaseVestingAccount{
+		BaseAccount:      NewBaseAccount(alias.Address, alias.Coins, alias.PubKey, alias.AccountNumber, alias.Sequence),
+		OriginalVesting:  alias.OriginalVesting,
+		DelegatedFree:    alias.DelegatedFree,
+		DelegatedVesting: alias.DelegatedVesting,
+		EndTime:          alias.EndTime,
+	}
+
+	return nil
+}
+
+func (pva PeriodicVestingAccount) GetStartTime() int64 {
+	return pva.StartTime
+}
+
+func (pva PeriodicVestingAccount) Validate() error {
+	if pva.GetStartTime() >= pva.GetEndTime() {
+		return errors.New("vesting start-time cannot be before end-time")
+	}
+	endTime := pva.StartTime
+	originalVesting := sdk.NewCoins()
+	for _, p := range pva.VestingPeriods {
+		endTime += p.Length
+		originalVesting = originalVesting.Add(p.Amount...)
+	}
+	if endTime != pva.EndTime {
+		return errors.New("vesting end time does not match length of all vesting periods")
+	}
+	if !originalVesting.IsEqual(pva.OriginalVesting) {
+		return errors.New("original vesting coins does not match the sum of all coins in vesting periods")
+	}
+
+	return pva.BaseVestingAccount.Validate()
+}
+
+func (pva PeriodicVestingAccount) MarshalJSON() ([]byte, error) {
+	alias := vestingAccountJSON{
+		Address:          pva.Address,
+		PubKey:           pva.PubKey,
+		AccountNumber:    pva.AccountNumber,
+		Sequence:         pva.Sequence,
+		OriginalVesting:  pva.OriginalVesting,
+		DelegatedFree:    pva.DelegatedFree,
+		DelegatedVesting: pva.DelegatedVesting,
+		EndTime:          pva.EndTime,
+		StartTime:        pva.StartTime,
+		VestingPeriods:   pva.VestingPeriods,
+	}
+
+	return legacy.Cdc.MarshalJSON(alias)
+}
+
+// UnmarshalJSON unmarshals raw JSON bytes into a PeriodicVestingAccount.
+func (pva *PeriodicVestingAccount) UnmarshalJSON(bz []byte) error {
+	var alias vestingAccountJSON
+	if err := legacy.Cdc.UnmarshalJSON(bz, &alias); err != nil {
+		return err
+	}
+
+	pva.BaseVestingAccount = &BaseVestingAccount{
+		BaseAccount:      NewBaseAccount(alias.Address, alias.Coins, alias.PubKey, alias.AccountNumber, alias.Sequence),
+		OriginalVesting:  alias.OriginalVesting,
+		DelegatedFree:    alias.DelegatedFree,
+		DelegatedVesting: alias.DelegatedVesting,
+		EndTime:          alias.EndTime,
+	}
+	pva.StartTime = alias.StartTime
+	pva.VestingPeriods = alias.VestingPeriods
+
+	return nil
+}
+
+func (ma ModuleAccount) Validate() error {
+	if err := validatePermissions(ma.Permissions...); err != nil {
+		return err
+	}
+
+	if strings.TrimSpace(ma.Name) == "" {
+		return errors.New("module account name cannot be blank")
+	}
+
+	if !ma.Address.Equals(sdk.AccAddress(crypto.AddressHash([]byte(ma.Name)))) {
+		return fmt.Errorf("address %s cannot be derived from the module name '%s'", ma.Address, ma.Name)
+	}
+
+	return ma.BaseAccount.Validate()
+}
+
+// MarshalJSON returns the JSON representation of a ModuleAccount.
+func (ma ModuleAccount) MarshalJSON() ([]byte, error) {
+	return legacy.Cdc.MarshalJSON(moduleAccountPretty{
+		Address:       ma.Address,
+		Coins:         ma.Coins,
+		PubKey:        "",
+		AccountNumber: ma.AccountNumber,
+		Sequence:      ma.Sequence,
+		Name:          ma.Name,
+		Permissions:   ma.Permissions,
+	})
+}
+
+// UnmarshalJSON unmarshals raw JSON bytes into a ModuleAccount.
+func (ma *ModuleAccount) UnmarshalJSON(bz []byte) error {
+	var alias moduleAccountPretty
+	if err := legacy.Cdc.UnmarshalJSON(bz, &alias); err != nil {
+		return err
+	}
+
+	ma.BaseAccount = NewBaseAccount(alias.Address, alias.Coins, nil, alias.AccountNumber, alias.Sequence)
+	ma.Name = alias.Name
+	ma.Permissions = alias.Permissions
+
+	return nil
+}
+
+func SanitizeGenesisAccounts(genAccounts GenesisAccounts) GenesisAccounts {
+	sort.Slice(genAccounts, func(i, j int) bool {
+		return genAccounts[i].GetAccountNumber() < genAccounts[j].GetAccountNumber()
+	})
+
+	for _, acc := range genAccounts {
+		if err := acc.SetCoins(acc.GetCoins().Sort()); err != nil {
+			panic(err)
+		}
+	}
+
+	return genAccounts
+}
+
+func ValidateGenAccounts(genAccounts GenesisAccounts) error {
+	addrMap := make(map[string]bool, len(genAccounts))
+	for _, acc := range genAccounts {
+
+		// check for duplicated accounts
+		addrStr := acc.GetAddress().String()
+		if _, ok := addrMap[addrStr]; ok {
+			return fmt.Errorf("duplicate account found in genesis state; address: %s", addrStr)
+		}
+
+		addrMap[addrStr] = true
+
+		// check account specific validation
+		if err := acc.Validate(); err != nil {
+			return fmt.Errorf("invalid account found in genesis state; address: %s, error: %s", addrStr, err.Error())
+		}
+	}
+
+	return nil
+}
+
+func validatePermissions(permissions ...string) error {
+	for _, perm := range permissions {
+		if strings.TrimSpace(perm) == "" {
+			return fmt.Errorf("module permission is empty")
+		}
+	}
+
+	return nil
+}
+
+func RegisterCodec(cdc *codec.Codec) {
+	cdc.RegisterInterface((*GenesisAccount)(nil), nil)
+	cdc.RegisterInterface((*Account)(nil), nil)
+	cdc.RegisterConcrete(&BaseAccount{}, "cosmos-sdk/BaseAccount", nil)
+	cdc.RegisterConcrete(&BaseVestingAccount{}, "cosmos-sdk/BaseVestingAccount", nil)
+	cdc.RegisterConcrete(&ContinuousVestingAccount{}, "cosmos-sdk/ContinuousVestingAccount", nil)
+	cdc.RegisterConcrete(&DelayedVestingAccount{}, "cosmos-sdk/DelayedVestingAccount", nil)
+	cdc.RegisterConcrete(&PeriodicVestingAccount{}, "cosmos-sdk/PeriodicVestingAccount", nil)
+	cdc.RegisterConcrete(&ModuleAccount{}, "cosmos-sdk/ModuleAccount", nil)
+}
diff --git a/x/auth/legacy/v0_39/migrate.go b/x/auth/legacy/v0_40/migrate.go
similarity index 50%
rename from x/auth/legacy/v0_39/migrate.go
rename to x/auth/legacy/v0_40/migrate.go
index 82b1390869f8..cf25525d15e1 100644
--- a/x/auth/legacy/v0_39/migrate.go
+++ b/x/auth/legacy/v0_40/migrate.go
@@ -1,16 +1,16 @@
-package v039
+package v040
 
 import (
 	"fmt"
 
-	v038auth "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_38"
+	v039auth "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_39"
 )
 
-// Migrate accepts exported x/auth genesis state from v0.38 and migrates it to
-// v0.39 x/auth genesis state. The migration includes:
+// Migrate accepts exported x/auth genesis state from v0.38/v0.39 and migrates
+// it to v0.40 x/auth genesis state. The migration includes:
 //
 // - Removing coins from account encoding.
-func Migrate(authGenState v038auth.GenesisState) v038auth.GenesisState {
+func Migrate(authGenState v039auth.GenesisState) v039auth.GenesisState {
 	for _, account := range authGenState.Accounts {
 		// set coins to nil and allow the JSON encoding to omit coins
 		if err := account.SetCoins(nil); err != nil {
@@ -18,6 +18,6 @@ func Migrate(authGenState v038auth.GenesisState) v038auth.GenesisState {
 		}
 	}
 
-	authGenState.Accounts = v038auth.SanitizeGenesisAccounts(authGenState.Accounts)
+	authGenState.Accounts = v039auth.SanitizeGenesisAccounts(authGenState.Accounts)
 	return authGenState
 }
diff --git a/x/auth/legacy/v0_39/migrate_test.go b/x/auth/legacy/v0_40/migrate_test.go
similarity index 68%
rename from x/auth/legacy/v0_39/migrate_test.go
rename to x/auth/legacy/v0_40/migrate_test.go
index 76eb51e21e61..879805c3edee 100644
--- a/x/auth/legacy/v0_39/migrate_test.go
+++ b/x/auth/legacy/v0_40/migrate_test.go
@@ -1,4 +1,4 @@
-package v039_test
+package v040_test
 
 import (
 	"testing"
@@ -7,8 +7,8 @@ import (
 	cryptocodec "github.com/cosmos/cosmos-sdk/crypto/codec"
 	sdk "github.com/cosmos/cosmos-sdk/types"
 	"github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_34"
-	v038auth "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_38"
-	v039 "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_39"
+	v039auth "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_39"
+	v040 "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_40"
 
 	"github.com/stretchr/testify/require"
 )
@@ -16,21 +16,19 @@ import (
 func TestMigrate(t *testing.T) {
 	v039Codec := codec.New()
 	cryptocodec.RegisterCrypto(v039Codec)
-	v038auth.RegisterCodec(v039Codec)
+	v039auth.RegisterCodec(v039Codec)
 
 	coins := sdk.NewCoins(sdk.NewInt64Coin("stake", 50))
 	addr1, _ := sdk.AccAddressFromBech32("cosmos1xxkueklal9vejv9unqu80w9vptyepfa95pd53u")
-	acc1 := v038auth.NewBaseAccount(addr1, coins, nil, 1, 0)
+	acc1 := v039auth.NewBaseAccount(addr1, coins, nil, 1, 0)
 
 	addr2, _ := sdk.AccAddressFromBech32("cosmos15v50ymp6n5dn73erkqtmq0u8adpl8d3ujv2e74")
-	vaac := v038auth.NewContinuousVestingAccountRaw(
-		v038auth.NewBaseVestingAccount(
-			v038auth.NewBaseAccount(addr2, coins, nil, 1, 0), coins, nil, nil, 3160620846,
-		),
+	vaac := v039auth.NewContinuousVestingAccountRaw(
+		v039auth.NewBaseVestingAccount(v039auth.NewBaseAccount(addr2, coins, nil, 1, 0), coins, nil, nil, 3160620846),
 		1580309972,
 	)
 
-	gs := v038auth.GenesisState{
+	gs := v039auth.GenesisState{
 		Params: v0_34.Params{
 			MaxMemoCharacters:      10,
 			TxSigLimit:             10,
@@ -38,10 +36,10 @@ func TestMigrate(t *testing.T) {
 			SigVerifyCostED25519:   10,
 			SigVerifyCostSecp256k1: 10,
 		},
-		Accounts: v038auth.GenesisAccounts{acc1, vaac},
+		Accounts: v039auth.GenesisAccounts{acc1, vaac},
 	}
 
-	migrated := v039.Migrate(gs)
+	migrated := v040.Migrate(gs)
 	expected := `{
   "params": {
     "max_memo_characters": "10",
@@ -55,18 +53,18 @@ func TestMigrate(t *testing.T) {
       "type": "cosmos-sdk/BaseAccount",
       "value": {
         "address": "cosmos1xxkueklal9vejv9unqu80w9vptyepfa95pd53u",
-        "public_key": "",
-        "account_number": 1,
-        "sequence": 0
+        "public_key": null,
+        "account_number": "1",
+        "sequence": "0"
       }
     },
     {
       "type": "cosmos-sdk/ContinuousVestingAccount",
       "value": {
         "address": "cosmos15v50ymp6n5dn73erkqtmq0u8adpl8d3ujv2e74",
-        "public_key": "",
-        "account_number": 1,
-        "sequence": 0,
+        "public_key": null,
+        "account_number": "1",
+        "sequence": "0",
         "original_vesting": [
           {
             "denom": "stake",
@@ -75,8 +73,8 @@ func TestMigrate(t *testing.T) {
         ],
         "delegated_free": [],
         "delegated_vesting": [],
-        "end_time": 3160620846,
-        "start_time": 1580309972
+        "end_time": "3160620846",
+        "start_time": "1580309972"
       }
     }
   ]
diff --git a/x/auth/legacy/v0_40/types.go b/x/auth/legacy/v0_40/types.go
new file mode 100644
index 000000000000..9313a178b2d4
--- /dev/null
+++ b/x/auth/legacy/v0_40/types.go
@@ -0,0 +1,8 @@
+package v040
+
+// DONTCOVER
+// nolint
+
+const (
+	ModuleName = "auth"
+)
diff --git a/x/bank/legacy/v0_39/migrate.go b/x/bank/legacy/v0_40/migrate.go
similarity index 63%
rename from x/bank/legacy/v0_39/migrate.go
rename to x/bank/legacy/v0_40/migrate.go
index 222992357d9f..66702d3c1e5a 100644
--- a/x/bank/legacy/v0_39/migrate.go
+++ b/x/bank/legacy/v0_40/migrate.go
@@ -1,15 +1,15 @@
-package v039
+package v040
 
 import (
-	v038auth "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_38"
+	v039auth "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_39"
 	v038bank "github.com/cosmos/cosmos-sdk/x/bank/legacy/v0_38"
 )
 
-// Migrate accepts exported x/auth and x/bank genesis state from v0.38 and migrates
-// it to v0.39 x/bank genesis state. The migration includes:
+// Migrate accepts exported v0.39 x/auth and v0.38 x/bank genesis state and
+// migrates it to v0.40 x/bank genesis state. The migration includes:
 //
 // - Moving balances from x/auth to x/bank genesis state.
-func Migrate(bankGenState v038bank.GenesisState, authGenState v038auth.GenesisState) GenesisState {
+func Migrate(bankGenState v038bank.GenesisState, authGenState v039auth.GenesisState) GenesisState {
 	balances := make([]Balance, len(authGenState.Accounts))
 	for i, acc := range authGenState.Accounts {
 		balances[i] = Balance{
diff --git a/x/bank/legacy/v0_39/migrate_test.go b/x/bank/legacy/v0_40/migrate_test.go
similarity index 75%
rename from x/bank/legacy/v0_39/migrate_test.go
rename to x/bank/legacy/v0_40/migrate_test.go
index 1b61ccdcb89e..e51909702492 100644
--- a/x/bank/legacy/v0_39/migrate_test.go
+++ b/x/bank/legacy/v0_40/migrate_test.go
@@ -1,4 +1,4 @@
-package v039_test
+package v040_test
 
 import (
 	"testing"
@@ -7,16 +7,17 @@ import (
 	cryptocodec "github.com/cosmos/cosmos-sdk/crypto/codec"
 	sdk "github.com/cosmos/cosmos-sdk/types"
 	v038auth "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_38"
+	v039auth "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_39"
 	v038bank "github.com/cosmos/cosmos-sdk/x/bank/legacy/v0_38"
-	v039bank "github.com/cosmos/cosmos-sdk/x/bank/legacy/v0_39"
+	v040bank "github.com/cosmos/cosmos-sdk/x/bank/legacy/v0_40"
 
 	"github.com/stretchr/testify/require"
 )
 
 func TestMigrate(t *testing.T) {
-	v039Codec := codec.New()
-	cryptocodec.RegisterCrypto(v039Codec)
-	v038auth.RegisterCodec(v039Codec)
+	v040Codec := codec.New()
+	cryptocodec.RegisterCrypto(v040Codec)
+	v039auth.RegisterCodec(v040Codec)
 
 	coins := sdk.NewCoins(sdk.NewInt64Coin("stake", 50))
 	addr1, _ := sdk.AccAddressFromBech32("cosmos1xxkueklal9vejv9unqu80w9vptyepfa95pd53u")
@@ -33,11 +34,11 @@ func TestMigrate(t *testing.T) {
 	bankGenState := v038bank.GenesisState{
 		SendEnabled: true,
 	}
-	authGenState := v038auth.GenesisState{
-		Accounts: v038auth.GenesisAccounts{acc1, vaac},
+	authGenState := v039auth.GenesisState{
+		Accounts: v039auth.GenesisAccounts{acc1, vaac},
 	}
 
-	migrated := v039bank.Migrate(bankGenState, authGenState)
+	migrated := v040bank.Migrate(bankGenState, authGenState)
 	expected := `{
   "send_enabled": true,
   "balances": [
@@ -62,7 +63,7 @@ func TestMigrate(t *testing.T) {
   ]
 }`
 
-	bz, err := v039Codec.MarshalJSONIndent(migrated, "", "  ")
+	bz, err := v040Codec.MarshalJSONIndent(migrated, "", "  ")
 	require.NoError(t, err)
 	require.Equal(t, expected, string(bz))
 }
diff --git a/x/bank/legacy/v0_39/types.go b/x/bank/legacy/v0_40/types.go
similarity index 98%
rename from x/bank/legacy/v0_39/types.go
rename to x/bank/legacy/v0_40/types.go
index d569ac4f7573..d40c4ed16399 100644
--- a/x/bank/legacy/v0_39/types.go
+++ b/x/bank/legacy/v0_40/types.go
@@ -1,4 +1,4 @@
-package v039
+package v040
 
 // DONTCOVER
 // nolint
diff --git a/x/genutil/client/cli/migrate.go b/x/genutil/client/cli/migrate.go
index 2ac83338394f..c0453e8344cd 100644
--- a/x/genutil/client/cli/migrate.go
+++ b/x/genutil/client/cli/migrate.go
@@ -16,6 +16,7 @@ import (
 	v036 "github.com/cosmos/cosmos-sdk/x/genutil/legacy/v0_36"
 	v038 "github.com/cosmos/cosmos-sdk/x/genutil/legacy/v0_38"
 	v039 "github.com/cosmos/cosmos-sdk/x/genutil/legacy/v0_39"
+	v040 "github.com/cosmos/cosmos-sdk/x/genutil/legacy/v0_40"
 	"github.com/cosmos/cosmos-sdk/x/genutil/types"
 )
 
@@ -31,6 +32,7 @@ var migrationMap = types.MigrationMap{
 	"v0.36": v036.Migrate,
 	"v0.38": v038.Migrate, // NOTE: v0.37 and v0.38 are genesis compatible
 	"v0.39": v039.Migrate,
+	"v0.40": v040.Migrate,
 }
 
 // GetMigrationCallback returns a MigrationCallback for a given version.
diff --git a/x/genutil/legacy/v0_38/migrate.go b/x/genutil/legacy/v0_38/migrate.go
index 2bbbae64db1f..6c9e8c003676 100644
--- a/x/genutil/legacy/v0_38/migrate.go
+++ b/x/genutil/legacy/v0_38/migrate.go
@@ -35,9 +35,7 @@ func Migrate(appState types.AppMap) types.AppMap {
 
 		// Migrate relative source genesis application state and marshal it into
 		// the respective key.
-		appState[v038auth.ModuleName] = v038Codec.MustMarshalJSON(
-			v038auth.Migrate(authGenState, genAccountsGenState),
-		)
+		appState[v038auth.ModuleName] = v038Codec.MustMarshalJSON(v038auth.Migrate(authGenState, genAccountsGenState))
 	}
 
 	// migrate staking state
diff --git a/x/genutil/legacy/v0_39/migrate.go b/x/genutil/legacy/v0_39/migrate.go
index 6c285bdd8efc..0452b6dead01 100644
--- a/x/genutil/legacy/v0_39/migrate.go
+++ b/x/genutil/legacy/v0_39/migrate.go
@@ -5,11 +5,13 @@ import (
 	cryptocodec "github.com/cosmos/cosmos-sdk/crypto/codec"
 	v038auth "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_38"
 	v039auth "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_39"
-	v038bank "github.com/cosmos/cosmos-sdk/x/bank/legacy/v0_38"
-	v039bank "github.com/cosmos/cosmos-sdk/x/bank/legacy/v0_39"
 	"github.com/cosmos/cosmos-sdk/x/genutil/types"
 )
 
+// Migrate migrates exported state from v0.38 to a v0.39 genesis state.
+//
+// NOTE: No actual migration occurs since the types do not change, but JSON
+// serialization of accounts do change.
 func Migrate(appState types.AppMap) types.AppMap {
 	v038Codec := codec.New()
 	cryptocodec.RegisterCrypto(v038Codec)
@@ -17,39 +19,15 @@ func Migrate(appState types.AppMap) types.AppMap {
 
 	v039Codec := codec.New()
 	cryptocodec.RegisterCrypto(v039Codec)
-	v038auth.RegisterCodec(v039Codec)
+	v039auth.RegisterCodec(v039Codec)
 
-	// remove balances from existing accounts
+	// migrate x/auth state (JSON serialization only)
 	if appState[v038auth.ModuleName] != nil {
-		// unmarshal relative source genesis application state
 		var authGenState v038auth.GenesisState
 		v038Codec.MustUnmarshalJSON(appState[v038auth.ModuleName], &authGenState)
 
-		// delete deprecated x/auth genesis state
-		delete(appState, v038auth.ModuleName)
-
-		// Migrate relative source genesis application state and marshal it into
-		// the respective key.
-		appState[v039auth.ModuleName] = v039Codec.MustMarshalJSON(v039auth.Migrate(authGenState))
-	}
-
-	if appState[v038bank.ModuleName] != nil {
-		// unmarshal relative source genesis application state
-		var bankGenState v038bank.GenesisState
-		v038Codec.MustUnmarshalJSON(appState[v038bank.ModuleName], &bankGenState)
-
-		// unmarshal x/auth genesis state to retrieve all account balances
-		var authGenState v038auth.GenesisState
-		v038Codec.MustUnmarshalJSON(appState[v038auth.ModuleName], &authGenState)
-
-		// delete deprecated x/bank genesis state
-		delete(appState, v038bank.ModuleName)
-
-		// Migrate relative source genesis application state and marshal it into
-		// the respective key.
-		appState[v039bank.ModuleName] = v039Codec.MustMarshalJSON(
-			v039bank.Migrate(bankGenState, authGenState),
-		)
+		delete(appState, v038auth.ModuleName) // delete old key in case the name changed
+		appState[v039auth.ModuleName] = v039Codec.MustMarshalJSON(authGenState)
 	}
 
 	return appState
diff --git a/x/genutil/legacy/v0_40/migrate.go b/x/genutil/legacy/v0_40/migrate.go
new file mode 100644
index 000000000000..9b04a9222d06
--- /dev/null
+++ b/x/genutil/legacy/v0_40/migrate.go
@@ -0,0 +1,55 @@
+package v040
+
+import (
+	"github.com/cosmos/cosmos-sdk/codec"
+	cryptocodec "github.com/cosmos/cosmos-sdk/crypto/codec"
+	v039auth "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_39"
+	v040auth "github.com/cosmos/cosmos-sdk/x/auth/legacy/v0_40"
+	v038bank "github.com/cosmos/cosmos-sdk/x/bank/legacy/v0_38"
+	v040bank "github.com/cosmos/cosmos-sdk/x/bank/legacy/v0_40"
+	"github.com/cosmos/cosmos-sdk/x/genutil/types"
+)
+
+// Migrate migrates exported state from v0.39 to a v0.40 genesis state.
+func Migrate(appState types.AppMap) types.AppMap {
+	v039Codec := codec.New()
+	cryptocodec.RegisterCrypto(v039Codec)
+	v039auth.RegisterCodec(v039Codec)
+
+	v040Codec := codec.New()
+	cryptocodec.RegisterCrypto(v040Codec)
+	v039auth.RegisterCodec(v040Codec)
+
+	// remove balances from existing accounts
+	if appState[v039auth.ModuleName] != nil {
+		// unmarshal relative source genesis application state
+		var authGenState v039auth.GenesisState
+		v039Codec.MustUnmarshalJSON(appState[v039auth.ModuleName], &authGenState)
+
+		// delete deprecated x/auth genesis state
+		delete(appState, v039auth.ModuleName)
+
+		// Migrate relative source genesis application state and marshal it into
+		// the respective key.
+		appState[v040auth.ModuleName] = v040Codec.MustMarshalJSON(v040auth.Migrate(authGenState))
+	}
+
+	if appState[v038bank.ModuleName] != nil {
+		// unmarshal relative source genesis application state
+		var bankGenState v038bank.GenesisState
+		v039Codec.MustUnmarshalJSON(appState[v038bank.ModuleName], &bankGenState)
+
+		// unmarshal x/auth genesis state to retrieve all account balances
+		var authGenState v039auth.GenesisState
+		v039Codec.MustUnmarshalJSON(appState[v039auth.ModuleName], &authGenState)
+
+		// delete deprecated x/bank genesis state
+		delete(appState, v038bank.ModuleName)
+
+		// Migrate relative source genesis application state and marshal it into
+		// the respective key.
+		appState[v040bank.ModuleName] = v040Codec.MustMarshalJSON(v040bank.Migrate(bankGenState, authGenState))
+	}
+
+	return appState
+}