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Coverdell ESA Beneficiary Change Form used by existing shareholders who need to designate or modify the beneficiary on their Coverdell Education Savings Account. Coverdell ESA Change Form Beneficiary is: an Individual a Trust (please submit copy of trust agreement) Other (Custodianship, Charity, Corporation, etc.)
Can I Roll Over Assets from another ESA? What is an Education Savings Account? h�b```�e� endstream
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A���G���p0��/�F�a�X"�T`80�#"�C%�k$'RKx�`(��D���SZ�����G���@�������:Ί�. MFS® COVERDELL ESA CHANGE FORM To Change: • Beneficiary (Complete Sections 1, 2, and 6. While more than one ESA can be set up for a single beneficiary, the total maximum contribution per year for any single beneficiary is $2,000. 422 0 obj
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• Contingent Beneficiary (Complete Sections 1, 3, and 6.)
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÷µÍöÙUh;»î«§›[JÖÎóšûÜõñë–�Ãè¬ Unlike a 529 savings plan, an ESA must be distributed when the designated beneficiary reaches age 30, unless he or she is a special needs beneficiary.
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• Successor Responsible Person (Complete Sections 1, 5, and 6.)
• Responsible Person (Complete Sections 1, 4, and 6. What is a Qualified Education Expense? 1.
Another key difference between a Coverdell ESA and a 529 plan is that a Coverdell ESA operates more like a custodial account, where the funds are the property of the beneficiary … h��=A���_ w��!$��J$�l"B�H�,�R��l 9���S�Sņ2�W����~��DU��P�cp.�XI�e^���2��#����]?anwwi��ζ� yb^�V��=��h��
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Who is an eligible family member? A Medallion Signature Guarantee is required.) endstream
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H‰ìUMo1½ï¯˜ãb7¶wmoP)M“J(4ŠĞ’h“6MUúï™ç£©RØ\PUym�gŞ{ó‘ë¨q. <> An ESA is an investment tool created for the purpose of paying for a child's education. You can change the beneficiary on the account to another member of the original beneficiary’s family who is under age 30. Am I Allowed to Change the Designated Beneficiary?
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����4�4����$���t6�[*�xzI���n?�YJl�� �00L��[��m�'�f� ?4! DESIGNATION OR CHANGE OF BENEFICIARY D Coverdell ESA 2 Acknowledgment Spousal Consent Complete this section only if you, the designated beneficiary, have your legal res-idence in a community or marital property state and you wish to name a beneficiary other than or in addition to your spouse as primary beneficiary. 0
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endobj Coverdell Education Savings Account FAQs. endobj
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COVERDELL ESA CHANGE OF DESIGNATION FORM Use this Coverdell ESA Change of Designation Form to designate or change designations for the Designated Beneficiary, Death Beneficiary or Responsible Individual associated with an existing Coverdell Education Savings Account (ESA). endstream
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A Medallion Signature Guarantee is required.)