Open a DC College Savings Plan account of your own, and you will be able to
- Choose how your money is invested (funds can be re-allocated twice per calendar year).
- Determine when qualified withdrawals are made.
- Decide which qualified education costs to use the funds for.
- Change the beneficiary to another qualified family member.1
Plus, you can access your account online 24/7. Contribute, exchange assets,2 make qualified distributions, or update your personal information 24/7.
1Section 529 of the Internal Revenue Code defines a family member as: A son, daughter, stepson or stepdaughter, or a descendant of any such person; a brother, sister, stepbrother, or stepsister; the father or mother, or an ancestor of either; a stepfather or stepmother; a son or daughter of a brother or sister; a brother or sister of the father or mother; a son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law; the spouse of the beneficiary or the spouse of any individual described above; or a first cousin of the beneficiary. Gift or generation-skipping transfer taxes may apply. Please consult with your tax advisor for further information.
2Federal law permits you to move the assets in your DC College Savings Plan account to a different mix of investment options twice per calendar year.
