Non Owner contributions to VA 529?
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Anonymous
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We recently started a VA 529 account for our newborn. The literature on the program implies that other people can contribute directly to the account through the website--but I can't figure out how. We have family members that would like to add funds--and other than giving them my account log in info I'm not sure what to tell them. I've emailed them and asked--but never received a response.
Does anyone know how to do this? |
Anonymous
I don't know how to do this, but they can certainly mail in checks. Just give them the address and account #. |
Anonymous
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And/or, they can give you a check, then you put the money onto the 529. Comes out the same.
NB: grandparents who live in VA should probably start their own 529 to help grandkids, not add to yours. Seniors get an unlimited VA tax deduction for 529 contributions. |
Anonymous
| you can either add their bank account info to the online deductions or have them mail in checks. Only the account holder can deduct the deposits off their taxes. |
Anonymous
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They mailed me coupons for other people to use to mail checks directly.
(this was for non VA residents, and they wanted to be able to not route the checks through us for whatever reason. I decided not to question it. Obviously though, they didn't want to give us access to make deductions from their bank account.) |
Anonymous
| Bump -- how do you get the coupons for non-resident contributions? |
Anonymous
You can add the persons bank account online |
Anonymous
| PP here - do you have to add the person as an authorized user on your account? Is there anything in hard copy (instructions, coupons for non-digital deposits) that we could give non-tech savvy grandparents? Like the OP, I searched the VA 529 site and sent an e-mail, to no avail. |
Anonymous
| You can get payment coupons through your online account -- login, then click "material requests" on the top bar and request payment coupons. |