You control your 529.
Regardless of the beneficiary, you, as the account owner, with CollegeChoice Advisor, decide:
- How much and when to contribute
- Whether to change beneficiaries1
- Which qualified expenses to pay for with your account, including tuition, fees, certain room and board expenses, as well as books and supplies for undergraduate and/or graduate education
- In which portfolio(s) to invest.
- Rollover your 529 savings into an IRA if they are no longer needed for education2
If a beneficiary decides not to attend college, you can name any qualified member of the same family as the new beneficiary. You can select a child, adult, or even yourself as the new beneficiary. Please see the Disclosure Statement for more information on who qualifies.
1 For beneficiary changes to occur without federal or state income taxes, the new beneficiary must be a family member of the original beneficiary. Please see the Disclosure Statement for a definition of a "family member."
2 Subject to eligibility requirements. Withdrawals taken as a Rollover to Roth IRA will be subject to recapture of the Indiana state income tax credit. Please see the Disclosure Booklet for more information.