Search results
NY 529 Direct Plan offers college savers tax benefits, low contribution minimums, flexibility, and low costs.
- What are the basics of 529s
There are no fees to open an account in New York's 529...
- Why choose NY 529 Direct Plan
NY's 529 Direct Plan has some of the lowest costs available...
- Which investments should I choose
Which investments should I choose - NY's 529 College Savings...
- Saving early matters
Saving early matters - NY's 529 College Savings Program | NY...
- Cost of college
Cost of college - NY's 529 College Savings Program | NY 529...
- The value of a degree
The value of a degree - NY's 529 College Savings Program |...
- Articles to help you plan and save
Articles to help you plan and save - NY's 529 College...
- Tax benefits
Tax benefits - NY's 529 College Savings Program | NY 529...
- What are the basics of 529s
18 mar 2024 · There are no annual contribution limits for New York 529 plans, other than the annual gift tax exclusion and 5-year gift-tax averaging. New York 529 plans have the highest cumulative contribution limit of $520,000 per beneficiary.
27 mar 2024 · 529 contribution limits are set by states and range from $235,000 to $575,000. Annual contributions over $18,000 must be reported to the IRS.
Contributions by check must be made payable to "New York's 529 College Savings Program Direct Plan," and include your account number (if you're not the account owner, make sure that you have the correct account number for the beneficiary).
There are no fees to open an account in New York's 529 College Savings Program Direct Plan, and there is no minimum contribution amount to get started. Once you have an account, you'll pay only $1.20 in fees per year for every $1,000 you invest in the Direct Plan (0.12% total annual asset-based fee).
New York's direct-sold 529 college savings plan is available to residents of any state. It offers low fees and diverse investment options featuring Vanguard mutual funds. New York residents may enjoy a state tax deduction for contributions to the plan.
Login to your account to view tax-year contribution totals. What is the deadline for making Plan contributions that can be deducted from 2022 New York state income taxes? Electronic transfers from your bank account can be made up until 11:59pm on December 31. Consider logging in to your account to arrange contributions at your convenience.
