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You can now change your Ohio 529 account beneficiary online at CollegeAdvantage.com! Whether you are transferring the entire account or just part of the 529 funds to another member of the family – whether related by blood, marriage, or adoption — you can make this transaction online. You are still welcome to use the paper form if you prefer, but the online process will transfer those funds more quickly. And it’s simple to do.

There are two stipulations for using the online process to change the beneficiary of your Ohio’s Direct 529 Plan.

First, your account where money is being transferred from cannot currently or previously include a Fifth Third banking option. If your Ohio 529 account had or has a Fifth Third banking option in it, you must continue to use the paper form in order to switch beneficiaries.

Second, you must have already established an Ohio Direct 529 account for the new beneficiary, who must be member of the family to the original beneficiary.

How to change beneficiaries online

To start the process, log into your account. Then look on the left side of your screen. If this new option is available to you, there will be a “Transfer to another beneficiary” link. Once you click on it, you will be taken to the first of five steps:

Step 1: Before you begin

You must select the link, “Transfer to another beneficiary”, on the account in which you want to transfer money from.  Once you have completed that step, the next page will show you the available accounts in which you are able to transfer money to under your account ownership. 

When you click on the “Next” button on the bottom of the page, you are confirming that the new beneficiary is a family member, as defined by the IRS, to the current beneficiary. If you have questions about what the IRS considers to be a family member, please refer for our Offering Statement for further details.

Step 2: Transfer from (Whether full or partial)

This page will give you the ability to transfer either the full balance or a partial balance.  If you are transferring the full balance, you will click on the button for Full Balance and click the Next link. The Next link will automatically take you to Step 3 listed below. 

If you are transferring a partial balance, you will click on this button and then the Next link.  The Next link will then ask the amount you want to transfer, and if you have more than one investment you will be asked if you want the amount prorated from all of your investments or choose specific investments to transfer the money from within the account.  If you choose specific investments rather than prorated, please keep in mind you are only able to request a transfer of 90% of the available amount in that particular investment option.  This provision is due to the potential market fluctuation.  Once you have completed these steps, you will click on the Next link and be taken to Step 3.

Step 3: Transfer to

After determining the amount you are wanting to transfer, the Transfer To page is next. This is where the other 529 accounts of which you are the account owner will appear. It’s from this list that you will choose to the new beneficiary or beneficiaries.

If there is only one new beneficiary, you will type 100% by their name.

If you are electing to split the transferred 529 funds among different beneficiaries, you will type the percentage of the transferred amount by the account number of each new beneficiary. The system will populate the approximate dollar amount of the transfer. The total percentage amount must equal 100%. If there are 529 accounts in which you don’t want to place any of the transferred funds, just leave their percentage box empty.

The funds will be transferred into the new beneficiary’s investment options that have been already determined through future contributions allocation.

Once you have chosen the new beneficiary and the percentage of the 529 funds being transferred to their account, hit the Next button to move to the next step.

Step 4: Review

On this page, you have one last chance to double check all your decisions: Who are you transferring the 529 funds from, which family member will be the new beneficiary and the dollar amount being given to the new beneficiary. Once you have verified that everything is how you want it, then hit submit.

Step 5: Done

At this point, the transfer process has been initiated. Please note the confirmation and the overview of the transaction. You may print it if you’d like.

If you have questions

The Ohio Tuition Trust Authority is committed to providing quick, friendly, and professional customer service through our Columbus, Ohio-based customer service representatives. If you have any questions or concerns about the upcoming changes, or if you need information or assistance with your account, please call CollegeAdvantage at 1-800-AFFORD-IT (233-6734). Our customer service representatives are available to assist you from 8:30 a.m. - 6 p.m. ET Monday through Friday. You may also send your non-account specific questions at your convenience via email to CustomerService@CollegeAdvantage.com.

Visit Ohio’s 529 Plan online to start saving today for your child’s future education. An investment in a 529 plan is an investment in your child where every dollar saved today is a dollar that doesn’t have to be borrowed later. A 529 account can be used for whatever school comes after high school. Learn, plan, and start with Ohio’s 529 Plan today at  .

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529 Short Course: New Parents

5 things every new parent needs to know about saving for education

  1. Why Ohio 529?
    529s are specifically created for higher education savings. Unlike a traditional banking account, a 529 account benefits from tax-free earnings and tax-free withdrawals. For Ohio residents, there is also a state income tax deduction for those contributions.
  2. It’s simple to start.
    You can open your 529 account online in minutes with as little as $25. With ready-made portfolio options, you don’t have to be a financial expert to feel confident in your savings plan choices.
  3. Set it and forget it with automatic deposits.
    The sooner you start saving, the longer your account benefits from the Ohio 529 tax advantages as well as compound interest. Many new parents take their 529 contributions off their to-do list by setting up small automatic deposits from either their banking accounts or paycheck. Also, with our ReadySave 529 app, it’s also easy to track and adjust your account right on your mobile device.
  4. Save for college, career training, and more.
    Ohio 529 can be used at over 30,000 schools of all kinds, nationwide, including universities; community colleges; trade, technical, and vocational schools; certificate programs; and apprenticeships. Your Ohio 529 account can also pay for K-12 tuition at a public, private, or religious school. And, if it’s not needed for educational expenses, you can now roll over your 529 to a Roth IRA.
  5. Others can help.
    It’s easy for family and friends to contribute to your child’s account and receive tax benefits for themselves. You can share your account’s unique Ugift number with others to contribute online without creating their own 529 accounts. Those who live in Ohio will also receive a state income tax deduction for their contributions. Also, you can sign up to have reminder emails sent to you and loved ones for the big milestones in your child’s life.

Hoping to find gold at the end of the rainbow? If you are saving with Ohio 529 CollegeAdvantage, you have the benefit of Ugift with your account, which is savings gold.

Ugift makes it easy for others to give to your Ohio 529 account. With Ugift, you generate a unique code which allows loved ones to contribute to your Ohio 529 savings plan without needing the actual account number. Once they have the Ugift code, your friends and family can visit Ugift529.com to make their online gifts directly to your 529.

When friends and family ask for gift ideas, share that you are saving for your child’s future education with Ohio 529. Then invite them to join in with gift contributions to your Ohio 529 account with Ugift. After all, a gift for your child’s education will truly last a lifetime.

The quickest and easiest way to pass along your child’s Ugift code is with the ReadySave 529 app, which you can access as an Ohio 529 CollegeAdvantage account owner. At the bottom of every page is an Ugift icon. Click on the gift symbol to view your Ugift code which you can send immediately as an invitation via texts, emails, and Facebook/Instagram chats from your phone.

Or log into your account online to view your child’s Ugift code to send to family and friends who would like to give the gift of education.

The Ugift code doesn’t expire. Which means whenever there is an occasion to celebrate­ like baby showers, holidays, birthdays, graduations, and special achievements, your family and friends can give to your Ohio 529 account. And they can choose to contribute as much as they want whenever they want. It can be a one-time gift or recurring gift; all they need is that Ugift code. Your loved ones’ contributions - whether big or small – will add up over the years. Added to the power of compound interest, these gifts will power your 529 savings to cover even more college and career training costs.

An added bonus for gift givers who live in Ohio: They are also eligible to receive a state income tax deduction for their Ohio 529 gift contributions, up to $4,000 per year, per beneficiary.

To learn more about all of the gifting options with Ohio 529 and order cards for special occasions, visit  529 Gift Central.

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