Whitehouse & Company CPA's
Who can be a beneficiary of a 529 plan?


The language of Section 529 of the Internal Revenue Code provides that any individual, regardless of age, can be a designated beneficiary of a 529 plan. A family relationship between the account owner and the beneficiary is not required. However, states can impose more restrictive requirements. For example, some plans have limits on a designated beneficiary's age or grade in school, and a few plans won't allow the account owner and the designated beneficiary to be the same person. Check the plans you are interested in for further information.

Prepared by Broadridge Investor Communication Solutions, Inc, Copyright 2011