OPENING AND MAINTAINING AN ACCOUNT. Who Can Open an Account? An Account may be established by an individual, certain legal entities, a custodian under a State’s UGMA or UTMA statute, or the trustee of a trust. The Account Owner must be at least 18 years of age with a valid Social Security number or a taxpayer identification number. The Account Owner must also have a valid, permanent address in the U.S. (not a P.O. Box). There are no income limitations for the Account Owner to participate in, or benefit from, the Program. There may be only one Account Owner per Account (joint ownership is not allowed). An Account Owner or multiple Account Owners can open more than one Account for the same Beneficiary as long as the total of the balances in all such Accounts and accounts for the Beneficiary in other Illinois Section 529 Programs, including the Bright Start Direct-Sold College Savings Program and College Illinois!, do not exceed the Maximum Account Balance. In addition, an Account may be established by a state or local government or a tax- exempt organization described in Section 501(c)(3) of the Code as part of a scholarship program operated by such government or organization. If the prospective Account Owner is a trust, the trustee should consult with his or her legal and tax advisors before establishing an Account. This Program Disclosure Statement does not address the income or other tax consequences of investments in the Program made by a trust, nor does it address the propriety of a trust making such an investment under state trust law. The Program is not responsible for determining if the individual listed as the trustee has the authority to open an Account in such capacity or whether trust assets can be used to open such Account. Accounts are only offered by the Distributor and through brokers or other financial advisors. You should contact your broker or other financial advisor to determine if they offer Accounts.
OPENING AND MAINTAINING AN ACCOUNT. Who can open an account Account Owner or Authorized Individual – An account may be opened to save for Qualified Disability Expenses by (i) an Eligible Individual or
OPENING AND MAINTAINING AN ACCOUNT. To open an Account, you must be least 18 years old, have a Social Security Number or Individual Taxpayer Identification Number and have a physical street address in the United States of America. Alternatively, your Account application will be considered on a case by case basis if you have a physical street address in the U.S. territories of Puerto Rico, United States Virgin Islands or American Samoa (“Specified U.S. Territories”); or a military or embassy address on a U.S. military base or at a U.S. embassy (i.e., an Army/Air Post Office, Fleet Post Office, or Diplomatic Post Office address) (“U.S. Jurisdictions”). You may not use a post office box (other than on a U.S. military base or at a Diplomatic Post Office) as an address to open an Account. Accounts may only be opened by natural persons and may only be used for personal, family, or household purposes. Accounts may not be opened or maintained by businesses or used for business purposes. Accounts may not be opened in the name of a trust or other legal entity or by a fiduciary (e.g., executor, conservator, guardians, trustees, etc.). If, however, a fiduciary is appointed by a court or by operation of law after Account opening, we may allow the fiduciary to access and control an Account on a temporary basis; thereafter, the Account will be closed.
OPENING AND MAINTAINING AN ACCOUNT. Using Financial Advisors Accounts in the Plan are only offered by the Distributor and through Financial Advisors who have entered into an agreement with the Distributor to offer accounts to their customers. Contributions to a Plan account will be invested after applicable sales charges are deducted. To open an account, contact your Financial Advisor directly for specific instructions or assistance on how to complete and submit the Enrollment Form. Who can open an account An account may be opened by an individual, certain entities (including a partnership, corporation, estate or association that is domiciled in the United States), a custodian under a state’s UGMA or UTMA statute or a trust to save for the Federal Qualified Higher Education Expenses of a Beneficiary. An account may also be established by a state or local government or a tax-exempt organization described in Code Section 501(c)(3) as part of a scholarship program operated by the government or organization without naming a specific Beneficiary when the account is opened. Each account owner must have a Social Security number or taxpayer identification number and a residential U.S. street address. No limits on the number of accounts A single account can include a single Age-Based Investment Option or multiple Static and Individual Fund Investment Options for the same Beneficiary. Separate accounts may be established for the same Beneficiary by the same account owner or different account owners. An account owner may open multiple accounts for different Beneficiaries. Joint or multiple account owners are not permitted. Depending on your investment elections, your Financial Advisor may need to establish separate accounts for the same Beneficiary. If you invest in both an Age-Based Investment Option and any Static Investment Option(s)/ Individual Fund Investment Option(s) or if you invest in multiple Age-Based Investment Options, you will have an Age-Based Investment Option account for each Age- Based Investment Option and a Static Investment Option/ Individual Fund Investment Option account. If you invest in more than one Fee Structure, you will also have multiple accounts. All accounts with the same account owner and Beneficiary can be accessed with one set of login credentials on the Plan’s website.
OPENING AND MAINTAINING AN ACCOUNT. Who Can Open an Account? An Account may be established by an individual, certain legal entities, a custodian under a state’s UGMA or UTMA statute, or the trustee of a trust. The Account Owner must be at least 18 years of age with a valid Social Security number or a taxpayer identification number. The Account Owner must also have a valid, permanent address in the U.S. (not a P.O. Box), but need not reside in Illinois. There are no income limitations for the Account Owner to participate in, or benefit from, the Program. There may be only one Account Owner per Account (joint ownership is not allowed). An Account Owner or multiple Account Owners can open more than one Account for the same Beneficiary as long as the total of the balances in all such Accounts and accounts for the Beneficiary in other Illinois Section 529 programs, including the Bright Directions Advisor-Guided 529 College Savings Program and College Illinois!, do not exceed the Maximum Account Balance. In addition, an Account may be established by a State or local government or a tax-exempt organization described in Section 501(c)(3) of the Code as part of a scholarship program operated by such government or organization. If the prospective Account Owner is a trust, the trustee should consult with his or her legal and tax advisors before establishing an Account. This Program Disclosure Statement does not address the income or other tax consequences of investments in the Program made by a trust, nor does it address the propriety of a trust making such an investment under state trust law. The Program is not responsible for determining if the individual listed as the trustee has the authority to open an Account in such capacity or whether trust assets can be used to open such Account. How Do I Open an Account? To open an Account, you must complete and sign an Enrollment Form, agreeing to be bound by the terms and conditions of the Participation Agreement, which governs your rights, benefits, and obligations as an Account Owner. The current form of the Participation Agreement is included as Exhibit A to this Program Disclosure Statement. To open an Account: • Online: complete the online application at XxxxxxXxxxx.xxx. • By Mail: complete, sign and mail the Enrollment Form to the Bright Start Direct-Sold College Savings Program. If you wish to make Contributions for more than one Beneficiary, you must complete an Enrollment Form and open a separate Account for each Beneficiary. You should note, howev...
OPENING AND MAINTAINING AN ACCOUNT. General The Program is open to both residents and non-residents of the State of Colorado. Regardless of your state of residency, you may participate in and receive benefits (other than Colorado state tax benefits) from the Program. However, if neither the Account Owner nor the Beneficiary is a Colorado resident (either when the Account is opened or because the Account Owner or the Beneficiary moves to a new state), the Account Owner may be required to pay an annual Account maintenance fee. See “Fees and Expenses—Account Fees.” The Colorado income tax deduction for contributions to the Program, as described herein, is available only to Colorado taxpayers investing in Colorado plans under current law, which may be changed through future legislative or judicial action. Section 529 plans offered by states other than the State of Colorado may offer tax or other benefits to taxpayers or residents of those other states that are not available with regard to the Program. Taxpayers and residents of states other than the State of Colorado should consider the tax treatment and other benefits available in their home state, if any, before making an investment decision. Account Application SCHOLARS C HOICE COLLEGE S AVINGS PROGRAM To participate, an Account Owner opens an individual Account established and maintained as part of the Trust. The Manager will open the Account when it or its designee receives a completed and signed Scholars Choice College Savings Program Account Application, which is available from financial intermediaries that have entered into a selling, service or similar agreement with Xxxx Xxxxx Investor Services, LLC (“selling institutions”). Each Account, other than Accounts maintained under omnibus account arrangements as described below, will be established with the Manager as a separate account under the Program for a single Beneficiary. The Account Application incorporates the Participation Agreement between the Account Owner and CollegeInvest. Omnibus Accounts Maintained by Certain Selling Institutions Accounts in the Program are established through selling institutions. Certain selling institutions may enter into an omnibus services agreement with Xxxx Xxxxx Investor Services, LLC pursuant to which the selling institution, rather than the Program’s transfer agent, is responsible for performing various recordkeeping services with respect to Accounts established by all or certain of its customers. Such services may include the establishment and mai...
OPENING AND MAINTAINING AN ACCOUNT. 15 Using State Farm Registered Representatives 15 Who can open an account 15 No limits on the number of accounts 15 Restrictions 15 Maximum limits on contributions 15 Completing and submitting an Enrollment Form 15 Required Information 15 Choosing an Investment Option 16 Account ownership 16 Maintaining and reviewing your account 17 Program Manager’s right to terminate, freeze, suspend or redeem your account 17 Account opening error 18 Documents must be in good order 18 PART 4 – BENEFICIARIES 18 Beneficiary 18 One Beneficiary 18 Infant Beneficiary 18 Scholarship account Beneficiary 18 UGMA or UTMA or minor-owned account Beneficiary 18 Changing the Beneficiary 18 Member of the Family 18 Death of a Beneficiary 19 PART 5 – CONTRIBUTING TO AN ACCOUNT 19 Contributions 19 Contribution restrictions 19 Minimum contribution amounts 19 Limits on maximum contributions to an account 19 Excess contributions 19 Allocation of contributions 19 Systematic Exchange Program 19 Contributions by non-account owners 20 Contribution methods 20 Contributing electronically from your bank account 20 Checks 21 Wire transfer 21 Payroll direct deposit 21 Rollover 21 Xxxxxxxxx Education Savings Account 22 Redemptions from certain U.S. Savings Bonds 22 Transfers within the Plan 22 UGMA or UTMA accounts 22 Contributions from GiftED 23 Contribution date 23 Contribution pricing 23 Contribution errors 23
OPENING AND MAINTAINING AN ACCOUNT. Who Can Open an Account? An Account may be established by an individual, certain legal entities, a custodian under a State’s UGMA or UTMA statute, or the trustee of a trust. The Account Owner must be at least 19 years of age and be a U.S. citizen, resident alien or legal entity with a valid Social Security number or taxpayer identification number. The Account Owner must also have a valid, perma- nent address in the U.S. (not a P.O. Box). There are no income limitations for the Account Owner to participate in, or benefit from, the Plan. In addition, an Account may be established by a State or local government or a tax-exempt organization described in Section 501(c)(3) of the Code as part of a scholarship program operated by such government or organization. You do not have to be a resident of Alabama to open an account. There may be only one Account Owner per Account (joint ownership is not allowed). An Account Owner or multiple Account Owners can open more than one Account for the same Designated Beneficiary as long as the total of the balances in all such Accounts and accounts for the Designated Beneficiary in other Alabama Section 529 programs do not exceed the Maximum Account Balance. If the prospective Account Owner is a trust, the trustee should consult with his or her legal and tax advisors before establishing an Account. This Program Disclosure Statement does not address the income or transfer tax consequences of investments in the Plan made by a trust or the propriety of such an invest- ment under state trust law. How Do I Open an Account? To open an Account, you must complete and sign an Enrollment Form and return it to your broker or other financial advisor. By completing an Enrollment Form, you agree to be bound by the terms and conditions of the Account Agreement, which governs your rights, benefits, and obligations as an Account Owner. The current form of the Account Agreement is included as Exhibit A to this Program Disclosure Statement. You should note, however, that any amendments to the Code or Alabama laws or regulations relating to the Program may automatically amend the terms of the Account Agreement, and the Board may amend the Account Agreement at any time and for any reason by giving notice of such amendments. If you wish to make Contributions for more than one Designated Beneficiary, you must complete an Enrollment Form and open a separate Account for each Designated Beneficiary. You must open an Account through a broker or other fin...
OPENING AND MAINTAINING AN ACCOUNT. Using Financial Advisors Accounts in the NEST Advisor Plan are only offered by the Primary Distributor and through Financial Advisors who have entered into an agreement with the Primary Distributor to offer accounts to their customers. Contributions to a Plan account will be invested after applicable sales charges are deducted. To open an account, contact your Financial Advisor directly for specific instructions or assistance on how to complete and submit the Enrollment Form. Who can open an account An account may be opened by an individual, certain entities (including a partnership, corporation, estate or association that is domiciled in the United States), a custodian under a state’s UGMA or UTMA statute, or a trust to save for the Qualified Higher Education Expenses of a Beneficiary. An account may also be established by a state or local government or a tax-exempt organization described in Code Section 501(c)(3) as part of a scholarship program operated by the government or organization without naming a specific Beneficiary when the account is opened. Each account owner must have a Social Security number or taxpayer identification number and a residential U.S. street address. You may select multiple Investment Options for the account you open for your Beneficiary when you complete the Enrollment Form or at a later date. All Investment Options opened by you for your Beneficiary will be placed into a single account. No limits on the number of accounts A single account can include different Investment Options for the same Beneficiary. Separate accounts may be established for the same Beneficiary by different account owners. An account owner may open multiple accounts for different Beneficiaries. Joint or multiple account owners are not permitted.
OPENING AND MAINTAINING AN ACCOUNT. Who can open an account An account may be opened by an individual, certain entities (including a partnership, corporation, estate or association that is domiciled in the United States), a custodian under a state’s UGMA or UTMA statute or a trust to invest toward the Federal Qualified Higher Education Expenses of a Beneficiary. An account may also be established by a state or local government or a tax-exempt organization described in Code Section 501(c) (3) as part of a scholarship program operated by the government or organization without naming a specific beneficiary when the account is opened. Each account owner must have a Social Security number or taxpayer identification number and a residential U.S. street address. No limits on the number of accounts Separate accounts may be established for the same Beneficiary, by the same account owner or different account owners. An account owner may open multiple accounts for different Beneficiaries. Joint or multiple account owners are not permitted. Until August 23, 2021, depending on your investment elections, you may need to establish separate accounts for the same Beneficiary. If you invest in both an Age-Based Investment Option and any Static Investment Option(s)/Individual Fund Investment Option(s) or if you invest in multiple Age-Based Investment Options, you will have an Age-Based Investment Option account for each Age-Based Investment Option and a Static Investment Option/Individual Fund Investment Option account. All accounts with the same account owner and Beneficiary can be accessed with one set of login credentials on the Plan’s website. Effective August 23, if you have multiple accounts due to the Investment Options described in this paragraph, you will have one account with multiple Investment Options.
