A my529 account owner can grant you limited power of attorney (LPOA) access.
Depending on the level of authorization you’re given, you may:
- Access your clients’ account information online or by phone
- Perform specific account transactions online or with the applicable form, including:
- Automated contributions
- Investment option changes
- Transfers between accounts
- Qualified withdrawals
Limited power of attorney access levels
The account access granted by an account owner/agent to a financial/tax advisor is limited to the authority described below:
|Â Authorization Level||Obtain Account Information||Initiate Transactions Online or with Applicable Form|
|Contributions||Investment Option Changes||Transfers Between Accounts||Â Withdrawals|
|Level 1 Low
|Level 2 Medium
|Level 3 High
(Limited + Withdrawals)
1 Withdrawal checks may be made payable only to the account owner, the beneficiary, or an eligible educational institution. my529 will not issue checks to other parties. Account owners can link a bank account to receive electronic deposits from my529 account withdrawals initiated online by financial advisors.
Set up limited power of attorney
Follow these steps to obtain LPOA access to your client’s my529 account:
- Complete and submit the Limited Power of Attorney Registration form (Form 700).
- my529 will send you a confirmation email with instructions on how to set up your firm’s online account access.
- After your firm is registered, your clients may grant you LPOA authorization through Account Access at my529.org or by mailing or faxing a completed Limited Power of Attorney Authorization form (Form 710).
The my529 Professional Services Team stands ready to help you.
Phone: 888.529.1886 | Fax: 888.529.9197 | firstname.lastname@example.org