Spring clean your account

As the days grow longer, and the blossoms start blooming, it’s time to embark on a different kind of spring cleaning — tidying up your my529 online account. Organizing your educational savings can bring a sense of renewal to your financial planning.

Here are some tips and tricks to help you spring clean your my529 online account.
Weigh your contributions. Look at your contributions and ensure that your savings goals align with your current financial situation. Consider increasing your contributions to maximize your savings potential. One great way would be to set up a recurring contribution.
Review your investment option. Consider your risk appetite and the age of your beneficiary to determine if the investment option you own is still aligned with your goals. IRS guidelines allow up to two investment option changes per calendar year. Consider if that is something you need to do.
Update your account information. Did you change your physical address? Do you have a new phone number or email address? Have your set up two-factor authentication on your my529 login? Please make sure the correct contact information is in your online account. Set up a successor account owner to prepare for unforeseen circumstances.
Utilize tax benefits. Make sure you are maximizing your savings potential by understanding and utilizing the tax advantages offered by your my529 plan. Some states offer a tax credit or deduction for contributing to any 529 plan. If you live in a state that offers a tax benefit, consider taking advantage of it.
Consider going paperless. If you are receiving my529 correspondence in a hardcopy format, you may find it more convenient to access digital versions of your account documents. Notifications of account information arrive sooner via email than through the postal service. All the documents are stored securely in your online account, ready to view at your convenience. In your online account, you can specify which documents you would like to receive electronically.
By taking the time to spring clean your my529 online account, you can help ensure that your education savings are well-organized and optimized for the future.

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Important Legal Notice

Investing is an important decision. The investments in your account may vary with market conditions and could lose value. Carefully read the Program Description in its entirety for more information and consider all investment objectives, risks, charges and expenses before investing. For a copy of the Program Description, call 800.418.2551 or visit my529.org.

Account Value. Investments in my529 are not insured or guaranteed by my529, the Utah Board of Higher Education, the Utah Education Savings Board of Trustees, any other state or federal agency, or any third party. However, Federal Deposit Insurance Corporation (FDIC) insurance is provided for the FDIC-Insured investment option. In addition, my529 offers investment options that are partially insured for the portion of the respective investment option that that includes FDIC-insured accounts as an underlying investments. Units in my529 have not been registered with the United States Securities and Exchange Commission or with any state securities commission.

FDIC insurance is subject to limits set by federal law. Click here for more information about FDIC Insurance.

Non-Utah Taxpayers and Residents. The state in which you or your beneficiary pay taxes or live may offer a 529 plan that provides state tax or other benefits, such as financial aid, scholarship funds, and protection from creditors, not otherwise available to you by investing in my529. You should consider such benefits, if any, before investing in my529.

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Morningstar rating. A Morningstar Analyst Rating for a 529 college savings plan is not a credit or risk rating. Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions. Morningstar does not represent its analyst ratings to be guarantees. Please visit Morningstar.com for more information about the analyst ratings, as well as other Morningstar ratings and fund rankings.

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