Compare 529 Plans by Features

Plan

Policy regarding participant/owner changes

A change in the beneficiary of an ABLE Account is not treated as a distribution and is not subject to federal gift or Goods and Services Tax (GST) if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the Plan.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

AZ ABLE

Arizona

A change in the beneficiary of a STABLE Account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

Accepts requests to transfer account ownership. However, the program may report an owner change as a nonqualified distribution subject to all applicable federal and state taxes and penalties.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

AR ABLE

Arkansas

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

CalABLE

California

A change in the account owner of an account is treated as an outgoing rollover, not a non-qualified withdrawal, if the new account owner is a sibling of the former account owner and an eEligible individual. However, if the new account owner is not an eligible individual and a sibling of the former account owner, the change is treated as a non-qualified withdrawal by the former account owner. A change in the account owner or a transfer to an account for the new account owner may have federal gift tax or Generation-Skipping Transfer (GST) tax consequences.

The beneficiary for an account may be changed without tax consequences only if the new beneficiary is a sibling of the current beneficiary and is otherwise an eligible individual. A change of beneficiary to a person other than a sibling who is also an eligible individual would be a non-qualified withdrawal subject to federal and state taxation and could adversely affect the beneficiary's eligibility for federal and state benefits.

Accepts requests to change account owner.

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

ABLE CT

Connecticut

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Ownership may not be transferred except in the case of an owner's death or incapacity.

Accepts requests to transfer account ownership.

Account ownership may not be transferred prior to the owner's death or incapacity.

DEPENDABLE

Delaware

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

DC ABLE

District of Columbia

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the Plan.

DC College Savings Plan

District of Columbia

Accepts requests to transfer account ownership.

During the lifetime of the beneficiary, part or all of the account balance may be transferred to an eligible individual who is a member of the family.

Accepts requests to transfer account ownership.

Accepts requests to transfer contract ownership.

A change in the beneficiary of a STABLE account is not treated as a distribution and is not subject to federal gift or generation-skipping transfer (GST) taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer contract ownership ($15 fee).

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

KY Saves 529

Kentucky

Accepts requests to transfer account ownership.

A change in the beneficiary of a STABLE Account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

LA ABLE

Louisiana

Generally non-transferable, except in the event of an account rollover.

Account ownership may not be transferred prior to the owner's death or incapacity.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer contract ownership ($10 fee).

A change in the beneficiary of an ABLE account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

The designated beneficiary or PSA, as applicable may change the designated beneficiary of an Attainable Plan Account to a new designated beneficiary during the lifetime of the current designated beneficiary without tax consequences as long as the new designated beneficiary is a member of the family of the current designated beneficiary and an eligible individual.

Account ownership may not be transferred prior to the owner's death or incapacity.

U.Plan

Massachusetts

Accepts changes to ownership with appropriate documentation.

Accepts requests to transfer account ownership.

MiABLE

Michigan

Accepts requests to transfer account ownership

Accepts requests to transfer account ownership.

The contract purchaser cannot transfer rights in the contract during lifetime.

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Accepts requests to transfer account ownership.

Mississippi ABLE

Mississippi

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Accepts requests to transfer account ownership.

Accepts requests to transfer contract ownership ($25 fee).

MO ABLE

Missouri

A change in the beneficiary of a STABLE Account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the Plan.

Accepts requests to transfer account ownership.

The Enable Savings Plan permits the transfer of all or a portion of an account owner's account balance to another account within the Enable Savings Plan, but only during the life of the account owner. At the time of the transfer, any transferee must be an eligible individual and a member of the family of the transferor-account owner.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Accepts requests to transfer contract ownership ($20 fee).

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Account ownership may not be transferred prior to the owner's death or incapacity.

A change in the beneficiary of a STABLE Account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

Account ownership may not be transferred prior to the owner's death or incapacity.

Accepts requests to change account ownership.

NJ ABLE

New Jersey

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Accept requests to transfer account ownership.

ABLE New Mexico

New Mexico

A change in the beneficiary of a STABLE Account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

Scholar's Edge

New Mexico

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

NY ABLE

New York

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Accepts requests to transfer account ownership as long as the new account owner is also an Advisory MS Wealth Management Client.

NC 529 Plan

North Carolina

Accepts requests to transfer account ownership.

The NC ABLE Program

North Carolina

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the plan.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

A change in the beneficiary of a STABLE account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

Accepts requests to transfer account ownership.

Ownership may not be transferred except in the case of an owner's death or incapacity.

A change in the beneficiary of a STABLE Account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

A change in the beneficiary of an ABLE account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

Accepts requests to transfer account ownership.

A change in the beneficiary of an ABLE account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

Accepts requests to transfer account ownership.

Ownership may not be transferred except in the case of an involuntary transfer such as death.

PA ABLE

Pennsylvania

The account owner may be changed if the new account owner is an eligible individual and is a sibling of the current account owner. If the new account owner is not a sibling of the current account owner, the change will be considered a non-qualified withdrawal, any account earnings may be subject to federal and state taxes and a federal penalty and the contribution into the new account will be subject to the annual account contribution limit (currently $14,000). Additionally the amount in the account may be considered an asset of the former account owner and could impact that individual's means-tested benefits.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

RI's ABLE

Rhode Island

Accepts requests to transfer account ownership provided the appropriate form and any additional requested documentation is submitted to the Plan.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

A change in the beneficiary of a STABLE Account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

ABLE TN

Tennessee

A designated beneficiary or legal representative may change the beneficiary on an account at any time, as long as the new beneficiary is an eligible individual and a member or the family of the former beneficiary. Any changes require that ownership of the account also be transferred to the new designated beneficiary.

No provision for permitting an account owner change.

Accepts requests to transfer account ownership.

A change in the designated beneficiary of an account is not treated as a distribution and is not subject to federal gift or GST taxes if the new designated beneficiary is an eligible individual and a member of the family. However, if the new designated beneficiary is not a member of the family, the change is treated as a non-qualified withdrawal by the current designated beneficiary and may have federal gift tax or GST tax consequences.

Accepts requests to transfer account ownership.

Accepts requests to transfer contract ownership.

A change in the beneficiary of a STABLE Account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

my529

Utah

Accepts requests to transfer account ownership.

A change in the beneficiary of a STABLE Account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

Accepts requests to transfer account ownership. However, the new owner must have/open an account for the beneficiary and the funds are transferred to that account.

ABLEAmerica

Virginia

In the case of a transfer of ownership of an Account, the new account owner succeeds to the previous owner's tax attributes, including, but not limited to, carryover and recapture of deductions.

ABLEnow

Virginia

Funds can be moved upon an account owner change to an eligible individual who is a member of the family.

Accepts requests to transfer account ownership.

Invest529

Virginia

Accepts requests to transfer account ownership ($10 fee except where owner has died or become disabled).

Accepts requests to transfer account ownership.

Accepts requests to transfer contract ownership.

A change in the beneficiary of an ABLE account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

Accepts requests to transfer contract ownership.

SMART529 Select

West Virginia

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

WV ABLE

West Virginia

A change in the beneficiary of a STABLE Account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.

Edvest

Wisconsin

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

WY ABLE

Wyoming

A change in the beneficiary of a STABLE Account is not treated as a distribution and is not subject to federal gift or GST taxes if the new beneficiary is an eligible individual and a sibling of the current beneficiary. However, if the new beneficiary is not a sibling of the current beneficiary, the change is treated as a non-qualified withdrawal by the current beneficiary and may have federal gift tax or GST tax consequences.