And it's a low-cost enhancement to employee benefits packages.

Assets gifted to a 529 plan are considered immediately removed from the donor’s estate, which may help reduce or eliminate estate taxes.

In October 2019, Morningstar assigned analyst ratings to 62 plans, which represent more than 97% of assets invested in 529 plans.

Virtual Assistant is Fidelity’s automated natural language search engine to help you find information on the Fidelity.com site. While your money is in the account, no taxes will be due on investment earnings. May Lose Value. Not FDIC Insured. Laws of a specific state or laws relevant to a particular situation may affect the applicability, accuracy, or completeness of this information. You may not redeem Reward Points, and you will immediately lose all of your Reward Points, if your Account is closed to future transactions (including, but not limited to, due to Program misuse, failure to pay, bankruptcy, or death). To the extent any investment information in this material is deemed to be a recommendation, it is not meant to be impartial investment advice or advice in a fiduciary capacity and is not intended to be used as a primary basis for you or your client's investment decisions. Our nationally distributed 529 plan offers an array of benefits including a

It is a violation of law in some jurisdictions to falsely identify yourself in an email. Furthermore, neither the principal nor any investment return is guaranteed by any state, federal government or any federal agency. You may not redeem Reward Points, and you will immediately lose all of your Reward Points, if your Account is closed to future transactions (including, but not limited to, due to Program misuse, failure to pay, bankruptcy, or death). Investing involves risk, including risk of loss. Fidelity Institutional Asset Management (FIAM) investment management services and products are managed by the Fidelity Investments companies of FIAM LLC, a U.S. registered investment advisor, or Fidelity Institutional Asset Management Trust Company, a New Hampshire trust company.

Usage of Fidelity's online trading services constitutes agreement of the Electronic Services Customer Agreement and License Agreement. If Fidelity does not manage a plan for your state, you may want to consider our national plan, the UNIQUE College Investing Plan. Please note that 529 plans may have certain fees and expenses including but not limited to annual maintenance fees, sales charges, deferred sales charges, administration, state, and management fees, and underlying fund expenses. Not FDIC Insured. Please carefully consider the plan's investment objectives, risks, charges, and expenses before investing. Establishment or ownership of a Fidelity® account or other relationship with Fidelity Investments® is not required to obtain a card or to be eligible to use Points to obtain any rewards offered under the program other than Fidelity Rewards. All plans received Morningstar's 2019 Silver Rating.3. Please check and retry. Actually, the money is still yours, but you'll pay both a 10% penalty and ordinary income taxes on the earnings if you don't spend it on qualified higher education costs. For individual fund-specific risks, click on each fund’s name to navigate to the fund details page. 1. Units of the Portfolios are municipal securities and may be subject to market volatility and fluctuation. Employers can set up employee contributions to our Workplace 529 Plan either through payroll deduction or through Electronic Funds Transfers (EFTs) from employee bank accounts. The amount treated as a qualified expense is subject to a lifetime limit of $10,000.

The IRS has not provided guidance to date on the methodology of allocating the $10,000 annual maximum among withdrawals from different 529 accounts. All rights reserved. No Bank Guarantee. You will earn 2 Points per dollar in eligible net purchases (net purchases are purchases minus credits and returns) that you charge. Get month-by-month savings tips with these 12 college savings strategies (PDF). See Fidelity.com/commissions for further details. This site is for persons in the U.S. only, 401(k) Participants & Employees of Corporations, 403(b) & 457(b) Participants & Employees of Non-Profits. Certain transactions are not eligible for Reward Points, including Advances (as defined in the Agreement, including wire transfers, travelers checks, money orders, foreign cash transactions, betting transactions, lottery tickets and ATM disbursements), convenience checks, balance transfers, unauthorized or fraudulent charges, overdraft advances, interest charges, fees, credit insurance charges, transactions to fund certain prepaid card products, U.S. Mint purchases, or transactions to purchase cash convertible items. Information provided in this document is for informational and educational purposes only.

In order for an accelerated transfer to a 529 plan (for a given beneficiary) of $75,000 (or $150,000 combined for spouses who gift split) to result in no federal transfer tax and no use of any portion of the applicable federal transfer tax exemption and/or credit amounts, no further annual exclusion gifts and/or generation-skipping transfers to the same beneficiary may be made over the five-year period, and the transfer must be reported as a series of five equal annual transfers on Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return.

Morningstar identified 30 best-in-class plans, assigning these programs a Morningstar Analyst Rating. 1. Information provided in this document is for informational and educational purposes only. Before investing, consider the funds' investment objectives, risks, charges, and expenses. 2. Contact Fidelity for a prospectus or a summary prospectus, if available, containing this information. Fidelity Institutional Asset Management (FIAM) investment management services and products are managed by the Fidelity Investments companies of FIAM LLC, a U.S. registered investment advisor, or Fidelity Institutional Asset Management Trust Company, a New Hampshire trust company. Compare all 529 plans by state Using this product is consent to Earn unlimited 2% cash back on every eligible net purchase2 when you redeem your Reward Points as a deposit into an eligible Fidelity-managed 529 account. You may gain or lose money over time. Access your Fidelity Advisor, Fidelity Advisor 529, or IRA accounts. Username For U.S. employees, your username (up to 15 characters) can be any customer identifier you've chosen or your Social Security number (SSN). ; 403(b) & 457(b) Participants & Employees of Non-Profits * Account balances, investment options, contributions, and tools. Not FDIC Insured. The definition of qualified higher education expenses for 529 plans expanded to include amounts paid as principal or interest on any qualified education loan of a 529 plan designated beneficiary or a sibling of the designated beneficiary.

The 2% cash back rewards value applies only to Points redeemed for a deposit into an eligible Fidelity® account. Includes many vocational and technical schools and eligible foreign institutions. For broker dealer advisors, Registered Investment Advisors, banks, and institutional investors at corporations, non-profits, pensions, and municipalities.

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