Family, friends, or anyone can give to an existing Invest529 account.
Your personal Gift ID can be retrieved from the secure Invest529 online account portal. Once logged in, select the Gift Center link in the main navigation. On the Gift Center home page, scroll down to Gift ID Information, select the appropriate account (if you have more than one), and copy your Gift ID.
You could give up to the maximum allowable account balance across all Invest529 programs, which is $550,000 per student.
Invest529 doesn’t charge fees to the giver or the account owner for making contributions through the online Gift Center. However, Invest529 and/or your financial institution may assess fees for rejected transactions or insufficient funds. Gift cards purchased at CVS and H-E-B retail locations, and online at Walmart.com include a convenience fee to cover distribution and processing. The gift card fee is paid by the gift card purchaser and the gift recipient receives the gift card amount.
Gifts of up to $18,000 per year, or up to $36,000 if married, to any one person are gift tax free.
You should consult a professional concerning any financial, tax or legal implications related to making a gift contribution to an Invest529 account. Invest529 and/or Commonwealth Savers does not provide legal, financial or tax advice to any person making a gift.
U.S. citizens or legal U.S. residents age 18 or older may open an Invest529 account for a student—family member, friend, or even yourself.
No. Anyone may contribute to an account as long as they have the account owner’s Gift ID.