collegesavings.tdameritrade.com529 College Savings Plan | TD Ameritrade

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Visit our Top FAQs page for ways you can self-service. Learn about our COVID-19 response, including branch closings, in a message from our CEO . Home Page Account Types Education TD Ameritrade 529 Plans 529 College Savings Plans Standard Retirement Education TD Ameritrade 529 Plans Investment Choices Specialty Managed Portfolios FAQs: Opening Get in touch Call or visit a branch Call us: 800-454-9272 275+ Branches Nationwide 529 College Savings Plan TD Ameritrade 529 College Savings Plan Invest Toward Your Loved One's College Education The TD Ameritrade 529 College Savings Plan ("Plan") is a state-sponsored, tax-deferred investment account that allows you to invest in a diverse selection of investment portfolios to help pay toward a child's or other loved one’s higher education down the road, regardless of your income. About the Plan The Plan is sponsored by the State of Nebraska. The Nebraska State Treasurer is responsible for the overall administration of the Plan, and TD Ameritrade, Inc. serves as sub-administrator.The Nebraska Investment Council is responsible for the investment of money in the Trust and selection of all Investment Options. First National Bank of Omaha serves as Program Manager. First National Capital Markets, Inc. serves as Distributor. First National Bank of Omaha and First National Capital Markets are affiliated. TD Ameritrade Investment Management, LLC, is the Portfolio Consultant. Find out more in the Program Disclosure Statement . Benefits of 529 plans expanded by SECURE Act and 2017 tax reform The December 2019 passing of the SECURE Act and 2017 federal tax law reform allow for the use of savings in 529 plans to cover apprenticeship related expenses, student loan repayments and private K-12 education cost. Please note that eligibility varies by individual states and plans. Learn more about these reforms and how they affect the TD Ameritrade 529 College Savings Plan. Open a 529 Account Already have an account? Login here Get Started Plan Benefits Tax Advantages: The Plan offers various tax advantages. Any growth in the account is tax-deferred, all qualified withdrawals for higher-education expenses remain free of federal and Nebraska state taxes, and you may exclude money in the Plan from your taxable estate. Affordability: The Plan is designed to meet the needs of virtually every family size and budget. There is no minimum annual contribution requirement. You can contribute up to $15,000 per year per beneficiary without incurring federal gift taxes. A 529 plan is the only way to contribute as much as $75,000 in a single year without incurring federal gift taxes. 1 The $75,000 counts for a $15,000 gift for the current year and four annual gifts of $15,000 in future years. Married couples who jointly file tax returns can contribute up to $150,000. You can make these gifts to as many beneficiaries as you want without incurring a gift tax. The Plan's overall account balance limit is $400,000 per beneficiary. 2 Convenient contribution choices: It's easy to contribute to the Plan. You can deposit funds into your account by check, set up an Automatic Investment Plan, or contribute through automatic payroll deductions if your employer provides this service. Flexibility: You can use account withdrawals at eligible schools nationwide. The Plan covers almost all expenses related to college including tuition, fees, reasonable room and board, books, and equipment including computers, software, and supplies. Reasonable room and board are considered qualified expenses if the student is enrolled at least half time. If a child decides not to attend college or doesn't use all of the funds, you can change the beneficiary. As the owner of the account, you may close it or withdraw all or a portion of the funds at any time, even for paying expenses not related to college. However, the earnings portion of funds withdrawn for nonqualified expenses will be subject to the distributee’s income tax rate plus a 10% federal penalty on the earnings portion. If the beneficiary receives a scholarship, the account owner may withdraw up to the amount of the scholarship without incurring the federal penalty on the earnings portion. ...