Education Savings Account
Pursue your goals your way
An education savings account from TD AMERITRADE — such as a 529 plan or a Coverdell ESA — can help you plan for the future. Saving for a child's education takes planning. We're here to help with the products, tools and guidance you need to develop a college investing plan that meets your needs.
| 529 |
Tax benefits are one of the reasons why saving for college with the TD AMERITRADE 529 College Savings Plan makes sense. The 529 Plan is designed to meet the needs of virtually every family and every budget. And there is no minimum annual contribution required.
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| Coverdell ESA |
The Coverdell ESA is a savings plan created for the purpose of paying a student's qualified educational expenses. Contributions to a Coverdell ESA are not tax-deductible. Distributions from a Coverdell ESA may be tax-free (must be used to pay for qualified educational expenses). The maximum contribution per year is $2,000.
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Custodial
Uniform Gift to Minors Act (UGMA)/Uniform Transfer to Minors Act (UTMA) |
These custodial accounts allow a minor to own cash or securities that are controlled by a custodian until the minor meets the age of majority for the state in which the account was set up. All deposits into these accounts are irrevocable gifts to the minor recipient. UGMA accounts are offered in South Carolina and Vermont. All other states and the District of Columbia offer UTMA accounts.
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TD AMERITRADE does not provide tax advice. We suggest that you seek the advice of a tax-planning professional with regard to your personal circumstances.
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