Arizona, New Hampshire receive IRS approvals
We've heard that the IRS has issued favorable rulings determining the Arizona and New Hampshire savings plans to be "qualified state tuition programs" under Section 529. These are apparently the first rulings received by 529 savings plans (at least three states have received rulings for their prepaid tuition plans). We plan to get our hands on the new rulings soon to see exactly what they say.
It's not necessary for a state to receive IRS blessing that it is a qualified 529 plan, but it is certainly reassuring. Kudos to Arizona and New Hampshire for applying for a ruling in the first place and congratulations on a successful result."
Return to 529 News centerIt's not necessary for a state to receive IRS blessing that it is a qualified 529 plan, but it is certainly reassuring. Kudos to Arizona and New Hampshire for applying for a ruling in the first place and congratulations on a successful result."