Snowbasin Resort, Huntsville, Utah.

A chair lift to higher education dreams

Après-ski

What better to do after a day of skiing or snowboarding than to research ways to save for future higher education costs. If you are here, our ads at your favorite snow resort resonated with you. Here’s a webpage to get you up to speed on what a 529 plan is and who we are. Enjoy.

What is a 529 plan?

529 plans are sponsored by states, state agencies, and educational institutions, and are authorized by Section 529 of the Internal Revenue Code.

The plans are designed to encourage saving for future qualified education expenses. Earnings in a 529 account grow deferred from federal and state taxes. Withdrawals are tax-free when used on qualified educational expenses.

You don’t have to live in Utah to own or be the beneficiary of a my529 account. Funds can be used at any eligible educational institution in the U.S. or abroad that participates in a federal student financial aid program. You can use my529 funds at a university, college, tech or trade school.

Earnings on nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty, as well as state and local income taxes. Consult with your tax advisor.

my529 is a 529 plan established and sponsored by the State of Utah.

How to begin saving with my529

Gather necessary documentation

Have the following on hand before you open an account:

  • Account Owner: Social Security Number/Taxpayer Identification Number, and U.S. physical address.
  • Beneficiary: Social Security Number/Taxpayer Identification Number, birthdate, and U.S. physical address.
  • Contributions (optional). Account and routing numbers for your bank or credit union.
  • Successor Account Owner (optional). Social Security Number/Taxpayer Identification Number and birthdate.

Read the Program Description and open an account

If you are opening an investment account, please read the Program Description to understand the risks associated with investing in my529.

open an account online

Choose an investment strategy

my529 has a variety of investment options—Enrollment Date, Static and Customized. Underlying funds include offerings from Vanguard, Dimensional, PIMCO and FDIC-insured accounts.

Make a contribution

You can contribute to your my529 account in several different ways.

  • Set up automatic contributions in your my529 account.
  • Online through your bank or credit union.
  • Payroll contribution.
  • Rollover.
  • Family and friends can make contributions through our Gift Program.
Smiling father and daughter riding a chair lift together on a sunny day at a ski resort.
Cute little boy is ready to ski
Little boy snowboarding with on a sunny winter day. The boy is looking at view in gondola ski lift ride.

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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.

Consult an advisor. my529 does not provide legal, financial, investment, or tax advice, and the information provided on this website does not contain advice and cannot be construed as such or relied upon for those purposes. You should consult your own tax or legal advisor to determine the effect of federal and state tax laws on your particular situation.

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.

my529 does not pay commissions, loads or sales charges to financial advisors nor does it endorse financial advisors.

Information on this website is believed to be accurate when posted and is qualified in its entirety by the Program Description.