Sen. Fitzgerald asks Treasury to clamp down on 529s
Senator Peter Fitzgerald, R-Ill, has sent a letter to Treasury Secretary John Snow asking that the Treasury Department develop new rules mandating specified fee disclosures for all 529 savings plans. This comes in the wake of a Senate subcommittee hearing chaired by Fitzgerald in September. An IRS witness at that hearing indicated that it may be possible for the IRS to require additional disclosures and other investor protections.
Fitzgerald also asks that Treasury develop recommendations for legislation that would either remove the states from 529 plans or require a lower-cost structure.
For more information, click hereReturn to 529 News centerFitzgerald also asks that Treasury develop recommendations for legislation that would either remove the states from 529 plans or require a lower-cost structure.