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Congress Increases Number Of Exchanges Allowed

In late 2014, Congress passed and the President signed legislative changes to Internal Revenue Code (IRC) Section 529. The change now allows an exchange of assets in an account from one investment option to another investment option, twice per calendar year for the same beneficiary.

An exchange among investment options for amounts in an account was previously limited to once per calendar year. The law was effective January 1, 2015. The Direct Plan account management system has been updated to accommodate two exchanges.

Posted on March 02, 2015

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