Utah Saves Week

Celebrate Utah Saves Week with my529

my529 is glad to be a part of Utah Saves Week, February 22-26. State leaders will be encouraging Utahns to save and be financially responsible in a variety of ways. Utah Saves Week is part of the America Saves campaign, and it is co-sponsored by the Utah State Treasurer’s Office and AAA Fair Credit Foundation. Scroll down for a special offer from my529.

Special offer – Invest for college

my529 is working to encourage saving the entire month of February. Click on the image at lower right for more information about the power of compound interest.

my529 is also offering a special promotion. If you are a Utah resident and open a new my529 account for a beneficiary new to my529 between February 1-28, 2021, and contribute at least $20 at opening, we’ll add a $20 contribution.* Just use the promo code 2021SAVE when prompted at opening.

How to do it

  1. Open a my529 account between February 1-28, 2021.
  2. Enter promotional code 2021SAVE.
  3. Contribute at least $20.
  4. my529 will deposit $20 into your new account.

To qualify, the account owner must be a Utah resident and the new my529 account must be for a beneficiary who is new to my529.

*Only valid between February 1-28, 2021, or while promotional funds are available.

Continue reading to determine whether my529 is right for you.

my529 is direct-sold

You can open a my529 account directly. A financial advisor isn’t necessary.

Anyone age 18 or older can open an account

  • You don’t need to be related to the beneficiary
  • You can open an account for yourself
  • You don’t need to be a Utah resident
  • No cost to open an account

Tax-deferred growth

Account earnings accumulate tax-deferred. Your balance can grow faster because you don’t pay taxes annually on account earnings.

Tax-free withdrawals

Earnings on withdrawals are exempt from federal and Utah state income tax if the funds are used to pay for qualified higher education expenses, such as:

  • Tuition and mandatory fees
  • Books, supplies and equipment required for enrollment
  • Computers, related software and equipment, and internet service
  • Room and board for students enrolled at least half time
  • Services required for a student with special needs to attend a post-secondary school
  • K-12 tuition expenses of up to $10,000 per year per beneficiary (from all 529 accounts) at public, private, or religious schools
  • Payments up to certain limits on qualified education loans (student loans)
  • Registered apprenticeships

Low fees

my529 fees are among the lowest in the 529 industry. Learn more about my529’s fees and fee structure. 

Investment options

my529 offers 13 investment options. (Note: Your investment could lose value.)

How account funds can be used

Withdrawals can be used for the qualified higher education expenses of your beneficiary at any eligible educational institution in the United States or abroad.

An eligible educational institution generally includes any accredited public or private college, university, or technical school that is qualified to participate in federal student aid programs. Contact your school of interest to determine their eligibility. You can also find a complete list of institutions, updated quarterly, at the U.S. Department of Education federal student aid site.

Important notice: Federal and state tax consequences will apply if account earnings are used for nonqualified expenses.

Utah account owners may qualify for a Utah state income tax credit or deduction.


Please read the my529 Program Description for more information.