IRS to allow two 529 investment changes in 2009

The IRS has announced (Notice 2009-01) that 529 plans will be able to accept two investment change requests per 529 account during calendar year 2009. Current rules contain a once-per-calendar year investment change restriction.

The increased flexibility is being granted "in response to concerns that have been caused by the recent condition of the financial markets." The change is applicable to calendar year 2009 only.
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