529 industry groups ask IRS for investment flexibility

The College Savings Foundation (CSF), Investment Company Institute (ICI), and Securities Industry and Financial Markets Association (SIFMA) have sent a joint letter to the Treasury Department requesting that the annual limit on investment changes in a 529 account be expanded to a maximum of four changes in any calendar year. The single annual change which 529 plans must now enforce is inadequate in the face of "extreme market volatility," according to the letter.

The groups are requesting "swift action" by Treasury and IRS.
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