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
- Rollover your 529 savings into an IRA if they are no longer needed for education2
Plus, you can access your account online 24/7. Contribute, exchange assets,3 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.
2Subject to eligibility requirements. Please see the Program Description for more information.
3Federal 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.
