Get Coverdell Esa Withdrawal Instruction (form 2506e) - Acuonline

Completing the Coverdell ESA Withdrawal Instruction (Form 2506E) is essential for managing your education savings account effectively. This guide will walk you through each section of the form, ensuring you understand the necessary steps for a smooth submission process.

Follow the steps to fill out the form accurately and efficiently.

1. Press the ‘Get Form’ button to access the Coverdell ESA Withdrawal Instruction (Form 2506E) and open it in the designated online editor.
2. Begin by entering the name of the credit union in the designated field. This is the institution managing your Coverdell ESA.
3. Provide the Designated Beneficiary’s Name. Clearly fill in the first name, middle initial, and last name as it appears on official documents.
4. Enter the Designated Beneficiary’s Social Security Number in the appropriate section. This number is crucial for identification and tax reporting purposes.
5. Input the total withdrawal amount you are requesting from the Coverdell ESA in the corresponding field.
6. Indicate the ESA suffix if applicable, followed by the account number linked to the Coverdell ESA.
7. Fill in the date of withdrawal using the MM/DD/YYYY format to ensure accuracy.
8. Select the reason for the withdrawal by checking only one of the numbered boxes provided. Be sure to check any applicable boxes that follow the selected reason.
9. If applicable, complete the section for 'Direct Transfer' if you are transferring funds to another Coverdell ESA or qualified tuition program. Provide the name of the institution receiving the funds.
10. For ‘Type of Withdrawal & Status After Withdrawal’, select one of the three options: Partial Withdrawal, Complete Withdrawal, or Complete Withdrawal and Close.
11. In the ‘Payment Method’ section, select how you want to receive the payment, including options for check, direct deposit, or direct transfer.
12. Sign the form in the ‘Responsible Individual’s Signature’ section, ensuring that the printed name matches the signer. Complete the date in the MM/DD/YYYY format.
13. Once the form is complete, review all entries for accuracy and save changes. You can then download, print, or share the form as needed.

Complete your Coverdell ESA Withdrawal Instruction (Form 2506E) online today for a seamless experience.