体育平台app-kok体育平台app

Skip to main content
 
 

529 plans

Get the tax benefits and flexibility you need to save for college

Whether you're investing for a child, grandchild or yourself, a 529 plan offers tax advantages, diverse 体育平台app options and high contribution limits.
May be a good move for:
  • Tax-free growth potential
  • Federal (and often state) tax-free withdrawals for qualified higher education expenses1,2
  • Making contributions with no age or income limits
体育平台app,kok体育平台app
Or call us 24/7 at
866.460.1282
体育平台app,kok体育平台app

Did you know?

You can now use assets in a 529 to pay for:
  • expenses for fees, books, supplies, and equipment required for the participation of a designated beneficiary in a registered and certified apprenticeship program1
  • payment of student loans up to a lifetime maximum of $10,000 for a designated beneficiary or a sibling of the designated beneficiary1

Features and benefits

  • Other 529 plans offer maximum lifetime contribution limits of $300,000 or more. NextGen 529 Direct offers a higher maximum lifetime contribution limit of $500,000
  • Assets are treated more favorably for financial aid purposes than assets in a taxable account, such as a custodial account (UGMA/UTMA)3
  • Money can be used to cover tuition, room and board, books, computers and other supplies at any accredited U.S. college or university some foreign schools and elementary or secondary public, private or religious school. For distributions taken after December 31, 2018, qualified higher education expenses include expenses required for the participation of a designated beneficiary in a registered and certified apprenticeship program and payment of student loans up to a lifetime maximum of $10,000 for a designated beneficiary or a sibling of the designated beneficiary (the lifetime maximum is applied separately for the sibling's loans versus the designated beneficiary's loans). State tax treatment may vary1

Tax advantages

  • Any earnings have the opportunity to grow tax deferred, and withdrawals are federal (and often state) tax free when used for qualified higher education expenses1,2
  • Contributions are considered completed gifts and are removed from your taxable estate for estate tax purposes
  • Contribute up to $15,000 for individuals and $30,000 for married couples annually, or up to $75,000 for individuals and $150,000 for married couples in a five-year period gift tax free4

Merrill offers the NextGen 529 Direct

NextGen 529 Direct

Choose your own 体育平台apps, rebalance your existing portfolios and change your 体育平台app allocation for future contributions

NextGen 529 Select

Work with a Merrill Financial Advisor and choose from a broader range of 体育平台app offerings than those offered in the Direct plan
Merrill offers other state 529 plans to in-state residents. Contact a licensed Merrill Financial Advisor at 888.637.3343 or schedule an appointment to learn more.
体育平台app,kok体育平台app

How much do you need to save for college?

Pricing and fees

NextGen 529 Direct

Annual account fee
$0
Minimum initial funding requirement
$25
May not be required for certain grant eligible Maine residents. See program description
Closeout fee
$0
Additional fees may apply. For details, see program description.

NextGen 529 Select

Contact a Merrill Financial Advisor at 866.460.1282 for pricing and fees.

Get Started

NextGen 529 Direct
体育平台app,kok体育平台app

Open an account

Open your account online in minutes. Here's what you'll need:
  • Social Security number and date of birth
  • A valid mailing and email address
  • Employment information (including company name, address and start date)
  • General financial information (such as annual income and household net worth)
  • Names and dates of birth for any beneficiaries
Or call us 24/7 at 866.460.1282
体育平台app,kok体育平台app

Fund your account

Fund your account instantly in real time from your eligible linked Bank of America® bank account. Or, transfer funds to your account from an outside bank through the Automated Funding Service, through payroll deduction or by mailing in a check.
体育平台app,kok体育平台app

Start investing

Create an 体育平台app strategy
Build a balanced portfolio aligned to your 体育平台app goals in 3 easy steps.
Find the right 体育平台apps
Choose from a variety of iShare ETF portfolios that may be right for you.
Manage your portfolio
Access your new Merrill 体育平台app account anytime, anywhere—online, on your mobile device and at thousands of Bank of America® ATMs.
Meet with a Merrill Financial Advisor
Meet with a Merrill Financial Advisor on the phone or in person, and get advice when you need it to invest for your child's education.
Or call us 24/7 at 866.460.1282

Important risk disclosures

Please remember there's always the potential of losing money when you invest in securities.
Any tax statements contained herein were not intended or written to be used, and cannot be used for the purpose of avoiding U.S. federal, state or local tax penalties. Neither Merrill Lynch nor any of its affiliates or financial advisors provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
1 To be eligible for favorable tax treatment afforded to the earnings portion of a withdrawal from a section 529 account, such withdrawal must be used for "qualified higher education expenses," as defined in the Internal Revenue Code. The earnings portion of a withdraw that is not used for such expenses is subject to federal income tax and may be subject to a 10% additional federal tax, as well as applicable state and local income taxes. The additional tax is waived under certain circumstances. The beneficiary must be attending an eligible educational institution at least half time for room and board to be considered a qualified higher education expense, subject to limitations. Institutions must be eligible to participate in federal student financial aid programs. Some foreign institutions are eligible. You can also take a federal income tax-free distribution from a 529 account of up to $10,000 per calendar year per beneficiary from all 529 accounts to help pay for tuition at an elementary or secondary public, private or religious school. For distributions taken after December 31, 2018, qualified higher education expenses now include expenses for fees, books, supplies, and equipment required for the participation of a designated beneficiary in an apprenticeship program registered and certified with the Secretary of Labor under the National Apprenticeship Act and amounts paid as principal or interest on any qualified education loans of the designated beneficiary or sibling of the designated beneficiary, up to a lifetime maximum of $10,000 per individual. Distributions with respect to the loans of a sibling of the designated beneficiary will count towards the lifetime limit of the sibling, not the designated beneficiary. Such repayments may impact student loan interest deductibility. State tax treatment may vary for distributions to pay for tuition in connection with enrollment or attendance at an elementary or secondary public, private or religious school, apprenticeship expenses, and payment of qualified education loans.
2 Section 529 plans are established by various states and are offered to residents of all states. Depending on the laws of the customer's home state, favorable tax treatment for investing in a Section 529 plan may be limited to 体育平台apps made in a Section 529 plan offered by the customer's home state. Neither Merrill Lynch, Pierce, Fenner & Smith Incorporated nor any of its subsidiaries are tax or legal advisors. We suggest you consult your personal tax or legal advisor before making tax or legal-related 体育平台app decisions.
3 Financial aid rules may change, and the rules in effect at the time the beneficiary applies may be different. For more complete information, visit the Department of Education Web site at www.ed.gov.
4 For 2020, individuals can gift up to $75,000 ($150,000 for married couples electing to split gifts) per beneficiary in a single year without incurring gift tax. Contributions between $15,000 and $75,000 ($30,000 and $150,000 for married couples electing to split gifts) made in one year can be prorated over a five-year period without subjecting you to gift tax or reducing your federal unified estate and gift tax credit. If you contribute less than the $75,000 ($150,000 for married couples electing to split gifts) maximum, additional contributions can be made without you being subject to federal gift tax, up to a prorated level of $15,000 ($30,000 for married couples electing to split gifts) per year. Gift taxation may result if a contribution exceeds the available annual gift tax exclusion amount remaining for a given beneficiary in the year of contribution. For contributions between $15,000 and $75,000 ($30,000 and $150,000 for married couples electing to split gifts) made in one year, if the account owner dies before the end of the five-year period, a prorated portion of the contribution may be included in his or her estate for estate tax purposes.
3017928
Before you invest in a Section 529 plan, request the plan's official statement from your Financial Solutions Advisor and read it carefully. The official statement contains more complete information, including 体育平台app objectives, charges, expenses and risks of investing in the 529 plan, which you should consider carefully before investing. You should also consider whether your home state or your beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds and protection against creditors that are only available for 体育平台apps in such state's 529 plan. Section 529 plans are not guaranteed by any state or federal agency.