Information as of September 23, 2016. https://www.consumer.gov/articles/1003-opening-bank-account#!what-to-know (savings accounts); https://www.irs.gov/publications/p970/ch07.html; http://www.finra.org/investors/coverdells-and-custodial-accounts (Coverdell ESAs); http://www.finaid.org/savings/ugma.phtml (UGMA/UTMAs); and https://www.sec.gov/investor/pubs/intro529.htm (529 plans).
Before investing in any 529 plan, please consider whether your or the designated beneficiary's home state offers its taxpayers any benefits that are only available through that state's 529 plan. Investment objectives, risks, charges, expenses, and other important information are included in each 529 plan's offering statement; please read and consider it carefully before investing in a 529 plan.
When you invest in a 529 plan, you are purchasing municipal securities whose value may vary based on market conditions. Investment returns are not guaranteed, and you could lose money by investing in a 529 plan. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences.
The availability of tax advantages or other benefits may be contingent on meeting other requirements. Please consult your financial, tax, or other advisors to learn more about how state-based benefits and limitations would apply to your specific circumstance. You may also contact your home state's 529 plan(s), or any other 529 plan, to learn more about those plans' features, benefits and limitations.