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  • C420abweb (10/11). Nc 539 Plan Website Contribution Coupons - Cfnc

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NC 529 Plan Account Owner P.O. Box 40877 Raleigh, NC 27629-0877 Beneficiary Account Number This Contribution will be allocated according to the Participant s most recent investment allocation instructions.

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529 plans do not have annual contribution limits. However, contributions to a 529 plan are considered completed gifts for federal tax purposes, and in 2023 up to $17,000 per donor ($16,000 in 2022), per beneficiary qualifies for the annual gift tax exclusion.

There are all kinds of ways to contribute to a 529 plan, including recurring bank draft, check, funds transfer, or payroll deduction. You can also “rollover” another 529 Account into an NC 529 Plan. One-time contributions are also an option if an individual cannot contribute on a regular basis.

With a 529 plan, a solid monthly contribution amount for a child born in 2022 would be about $140 for a public in-state school, $215 for public out-of-state, or $350 for a private university.

A gift giver can open a new 529 plan account in a child's name or contribute to an existing account. Contributions to a custodial 529 plan account or to a parent-owned 529 plan will minimize the impact on eligibility for need-based financial aid. Gift contributions can be sent by check to almost any 529 plan.

Simply request a Withdrawal from the Account in an amount equal to the scholarship or tuition waiver. The earnings portion of such Withdrawals will be subject to federal and state income taxes.

You can call your plan administrator, make a request online, or submit a withdrawal request form. The plan can send withdrawals by check to the account owner, the beneficiary, or the school. You can transfer the money to yourself or the beneficiary electronically and then make payment to the school.

You have a lot of options: Send a check – just write a check and mail it with a contribution coupon and we'll deposit the funds into your account. You can send checks as often as you like. One-time electronic funds transfer – you can make a transfer from your bank account.

Just as there are no federal tax deductions for 529 Plans, North Carolina also does not offer in-state tax deductions for contributions to NC 529 Accounts. The incentive for 529 plans is that after-tax money grows free of federal and state taxes and will not be taxed when the money is taken out for education.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232