CollegeAmerica® 529
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Open
Applications
Standard account
Use this application to open a CollegeAmerica account for a single owner and single beneficiary.
Complete the CollegeAmerica Account Application.Multiple accounts
Use this application to open CollegeAmerica accounts for a single owner and up to three beneficiaries per form.
Complete the CollegeAmerica Account Application (for Multiple Beneficiaries).Trust or UGMA/UTMA account
If a trust will be investing in the account, or if it will be funded with UGMA/UTMA assets, use this application and include this supplemental application.
Complete the CollegeAmerica Supplemental Account Application..png/_jcr_content/renditions/cq5dam.web.1280.1280.png?ch_ck=1631577223000)
See guidelines on eligibility, contribution limits, fee information and more in Opening CollegeAmerica accounts.
Rollovers and transfers
Open a CollegeAmerica account with funds from another savings plan
Use this form, with an application, to request a transfer or rollover into a CollegeAmerica account. Contact the resigning institution for their requirements to transfer the assets to American Funds.
Complete the CollegeAmerica Rollover/Transfer Request.
Open a CollegeAmerica account with a gift of shares
Use this form, with an application, to transfer existing American Funds shares to open a CollegeAmerica account.
Complete the Gift of Shares Request.
For guidelines on moving funds, how rollovers affect your client’s taxes and more, visit CollegeAmerica incoming rollovers.
Common questions
A $550,000-per-beneficiary contribution limit applies across all plans administered by Virginia529, including CollegeAmerica, Invest529® (including Tuition Track Portfolio), Prepaid529SM and existing CollegeWealth® accounts.
If the total value of the account falls below $550,000 for any reason, additional contributions can be made.
No, joint ownership is not permitted. The person who will be managing the account should be designated as the owner.
There are many differences between these three ways your clients can save for education. Review Compare education savings plans for income and contribution limits, tax treatment, how the funds can be used and more.
The owner’s CollegeAmerica account can be linked with other accounts for the owner and their immediate family (spouse — or equivalent, if recognized under local law, children under the age of 21 or disabled adult dependents covered by ABLE accounts). Visit Share classes and breakpoints for additional information on reducing the sales charge. Details on aggregating accounts can be found in the fund prospectus.
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Update
Update client’s personal information
Update client’s name
Use this form and submit with supporting documentation. See the form for requirements.
Complete the Name Change Request.Update client’s address
Update the address via the client’s online account. Use the options on the right side of the page.
Note: There is a 10-calendar-day wait to process a distribution to the new address unless the distribution request is submitted in writing with a signature guarantee.
Log in to Client Accounts.
Update client’s contact information
A client’s email address and/or phone number can be updated on DST Vision® or by contacting us.
Log in to DST Vision.If your client has experienced a major life event, visit Life events for checklists to assist with account updates they may need to consider.
Add/update client bank accounts
Link a bank account to buy shares
Add/update the bank information via the client’s online account. Use the options on the right side of the page.
Log in to Client Accounts.Link a bank account to sell shares
Use this form.
Note: Unless the form is signature guaranteed, there is a 10-calendar-day wait to process a distribution to the new bank account.
Complete the Add/Update Bank Information form.
Review eligibility, restrictions, requirements and more in Managing client banking information.
Update customer profiles
Change the owner/custodian
Changing ownership requires the signature of both the new owner and the resigning owner. The resigning owner must obtain a signature guarantee. If the resigning owner is deceased, contact us.
Complete the CollegeAmerica Account Change Request.Change a beneficiary
If your client wants to both change a beneficiary and process a distribution to the new beneficiary, use this form and the CollegeAmerica Distribution Request. Submit the two forms together to expedite the request.
Complete the CollegeAmerica Account Change Request.
Add/update a successor owner/custodian
Use this form, or your client may be able to make the change by logging in to their account on the investor website.
Complete the CollegeAmerica Account Change Request.Review guidelines, eligibility and more in Managing CollegeAmerica accounts.
Common question
Complete the CollegeAmerica Account Change Request. Refer to Managing CollegeAmerica accounts for additional guidelines and tax implications for beneficiary changes.
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Transact
Contributions
Make a one-time contribution online
Access the client’s account online and click Buy. Be sure to have the client’s bank information on hand if it’s not already on file.
Log in to Client Accounts.Make a one-time contribution via check
Checks should be made payable to CollegeAmerica and should include the account number and investment instructions. Mail the check to the service center near you.
Find a service center.
Set up automatic investments
Access the client’s account online to add or update an automatic investment plan and click Automatic Transactions.
Log in to Client Accounts.Visit CollegeAmerica contributions for additional details about contribution minimums and maximums, deadlines and more.
Rollovers and transfers
Move funds from another savings plan
Use this form to request a transfer or rollover into a CollegeAmerica account. Contact the resigning institution for their requirements to transfer the assets to American Funds.
Complete the CollegeAmerica Rollover/Transfer Request.
Transferring or rolling out of American Funds to a non-Virginia529 plan
The receiving firm’s transfer or rollover request can be submitted if it’s signed by the account owner or custodian and the accepting financial institution. A signature guarantee may be required. Alternatively, use this form. A signature guarantee is required.
Complete the CollegeAmerica Distribution Request.
Visit CollegeAmerica incoming rollovers or CollegeAmerica outgoing rollovers for additional information on moving funds, including how to move assets to and from a Virginia529 plan.
Distributions
Distribute funds to the owner
Funds can be sent via check or Automated Clearing House (ACH) if the client’s bank information is already linked. The distribution will be reported under the owner’s Social Security number (SSN). Access the client’s account online and click Sell.
Log in to Client Accounts.Distribute funds to the beneficiary
Funds can be sent via ACH if the beneficiary’s bank information is already linked and the distribution is for $25,000 or less. The distribution will be reported under the beneficiary’s SSN. Access the client’s account online and click Sell.
Log in to Client Accounts.Distribute funds to the school
Funds can be sent via check to an eligible educational institution. You’ll need the institution’s name and address and the beneficiary’s student ID number. The distribution will be reported under the beneficiary’s SSN. Access the client’s account online and click Sell.
Log in to Client Accounts.For guidelines on distribution options, how distributions affect your client’s tax reporting and more, visit CollegeAmerica distributions.
Exchanges and rebalances
Complete a one-time exchange or rebalance
Exchanges and rebalances are considered strategy changes, and two strategy changes can be completed per owner/beneficiary combination per year. Access the client’s account online and click either Exchange or Rebalance.
Log in to Client Accounts.Set up an automatic exchange or rebalance plan
Adding or updating an automatic exchange or rebalance plan is considered a strategy change, and two strategy changes can be completed per owner/beneficiary combination per year. Access the client’s account online and click Automatic Transactions.
Log in to Client Accounts.For additional information about one-time exchanges and rebalances and automatic plans, visit CollegeAmerica exchanges and rebalances.
Common questions
Generally, qualified education expenses refer to expenses required for the enrollment or attendance of the beneficiary at an eligible educational institution. For a list of qualified expenses, as well as the tax implications of taking a nonqualified distribution, visit CollegeAmerica qualified education expenses.
Yes, as long as the other student is a member of the current beneficiary’s family. If so, the funds must be transferred to the new beneficiary first for tax-reporting purposes. Complete the CollegeAmerica Account Change Request. Include the CollegeAmerica Distribution Request and submit the forms together to expedite the request.
Learn more about who is considered a member of the family.
Two strategy changes can be completed per owner/beneficiary combination per year. To learn more about what is considered a strategy change and how one can affect your clients' taxes, review CollegeAmerica strategy changes.
Your clients’ friends and family can contribute to the account via:
- Check: Checks should be made payable to CollegeAmerica. They should include the account number and investment instructions and mail the check to the service center near them.
Note: Third-party checks are not accepted.
- Bill pay: This option is set up directly with a bank. They should designate CollegeAmerica as the payee and provide the account number and fund name(s) or number(s) from a quarterly statement.
- College savings gift cards and rewards programs: Capital Group also participates in many third-party college savings programs. They should confirm the requirements with the program provider.
Visit Help clients with CollegeAmerica contributions to access a single sheet you can share with your clients.
Yes. Eligible 529 assets can be rolled into a Roth IRA within certain limitations. For more information, review CollegeAmerica 529 to Roth IRA rollovers.
- Check: Checks should be made payable to CollegeAmerica. They should include the account number and investment instructions and mail the check to the service center near them.
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Contact us
Have questions or need additional support?
Contact us 8:00 a.m. to 7:00 p.m. ET, Monday through Friday.
For financial professionals only. Not for use with the public.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
Use of this website is intended for U.S. residents only.
The guidelines and procedures provided in the Account Resource Center may not apply to networked accounts or accounts not directly held by American Funds. The guidelines and procedures provided also apply only to those retirement accounts or Coverdell ESAs invested in American Funds with Capital Bank and Trust Company (CB&T) as custodian. The guidelines and procedures provided in the Account Resource Center do not apply to plans held in our retirement plan solutions — PlanPremier, PlanPremier-TPA or RecordkeeperDirect. Information on the Account Resource Center may change periodically, and previously printed information may not be current. Please refer to capitalgroup.com for the most current information available.
Financial professionals should always contact their back office to determine if there are any restrictions on the use of American Funds products, tools, services, websites and literature.
CollegeAmerica is distributed by Capital Client Group, Inc. and sold through unaffiliated intermediaries.
Depending on your state of residence, there may be an in-state plan that provides state tax and other state benefits, such as financial aid, scholarship funds and protection from creditors, not available through CollegeAmerica. Before investing in any state’s 529 plan, investors should consult a tax advisor.