Total account balance limit rises to $446K

For 2018, the maximum combined balance of all my529 accounts established for the same beneficiary was raised to $446,000. The previous maximum balance was $430,000.

The limit of $446,000 represents the maximum estimated qualified higher education expenses of an undergraduate and graduate degree, including room and board.

Contributions or portions of contributions that cause the aggregate account balance for a beneficiary to exceed $446,000 will be returned to the contributor. While additional contributions cannot be made once the contribution balance is reached, earnings can continue to grow beyond the $446,000.

Section 529 of the Internal Revenue Code requires my529 to set a limit on the maximum combined account balance for a single beneficiary.