Promoting education to your clients’ children

We know you are looking out for your clients’ future. Show them you have an eye on the future prospects of their children by encouraging them to open a 529 account. Earnings in a my529 account grow deferred of federal and state taxes, and remain tax-free if used on qualified educational expenses. This way, more of your clients’ money is available for possible market gains.

To help them get started, my529 is sharing a promotional offer with you.

If you help a client open a new my529 account for a beneficiary new to my529 between October 22-November 22, 2020, and they contribute at least $20 at opening, we’ll add a $20 contribution.* Just use the promo code 2010NAPFA when prompted at opening.

How to do it

  1. Open a my529 account between October 22-November 22, 2020.
  2. Enter promotional code 2010NAPFA.
  3. Contribute at least $20.
  4. my529 will deposit $20 into the new account.

To qualify, the new my529 account must be for a beneficiary who is new to my529.

*Only valid between October 22-November 22, 2020, or while promotional funds are available.

If you have questions about this promotion or would like to learn more about how my529 supports advisors, click on the calendar to schedule time to meet with my529’s Professional Services team.

More about my529

my529 is direct-sold

You can open a my529 account directly. A financial advisor isn’t necessary.

Anyone age 18 or older can open an account

  • You don’t need to be related to the beneficiary
  • You can open an account for yourself
  • You don’t need to be a Utah resident
  • No cost to open an account

Tax-deferred growth

Account earnings accumulate tax-deferred. Your balance can grow faster because you don’t pay taxes annually on account earnings.

Tax-free withdrawals

Earnings on withdrawals are exempt from federal and Utah state income tax if the funds are used to pay for qualified higher education expenses, such as:

  • Tuition and mandatory fees
  • Books, supplies and equipment required for enrollment
  • Computers, related software and equipment, and internet service
  • Room and board for students enrolled at least half time
  • Services required for a student with special needs to attend a post-secondary school
  • K-12 tuition expenses of up to $10,000 per year per beneficiary (from all 529 accounts) at public, private, or religious schools
  • Payments up to certain limits on qualified education loans (student loans)
  • Registered apprenticeships

Low fees

my529 fees are among the lowest in the 529 industry. Learn more about my529’s fees and fee structure. 

Investment options

my529 offers 13 investment options. (Note: Your investment could lose value.)

How account funds can be used

Withdrawals can be used for the qualified higher education expenses of your beneficiary at any eligible educational institution in the United States or abroad.

An eligible educational institution generally includes any accredited public or private college, university, or technical school that is qualified to participate in federal student aid programs. Contact your school of interest to determine their eligibility. You can also find a complete list of institutions, updated quarterly, at the U.S. Department of Education federal student aid site.

Important notice: Federal and state tax consequences will apply if account earnings are used for nonqualified expenses.

Utah account owners may qualify for a Utah state income tax credit or deduction.

 

Please read the my529 Program Description for more information.