Other Information on Accounts

How can I check my UESP account balance?

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You may check your account balance online anytime. You just need to sign up for online Account Access. You can also call UESP toll-free at 800.418.2551 for general account information. In addition, you will receive quarterly account statements detailing account activity and balance information as of the quarter end.

 

Can I roll over or move funds from another 529 plan?

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Yes. You can roll over funds between 529 plans (i.e., move from another state’s 529 plan to UESP or vice versa) for the same beneficiary once per 12-month period. You can roll over funds between 529 programs anytime in connection with a beneficiary change.

To roll over funds to UESP, you must first open a UESP account. Then complete the Incoming Direct Rollover: 529 Plan or Coverdell ESA form and send it to UESP. UESP will send that form with a letter of acceptance to your current 529 plan. Contact your current plan to find out if you must complete any additional paperwork in order to complete the rollover to UESP.

 

What happens if I move from one state to another?

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You do not have to be a Utah resident or taxpayer to open or maintain a UESP account.

 
 
 

Important Legal Notice

You should read the Program Description and consider all investment objectives, risks, charges, and expenses before investing. The Program Description is available for download on the web or a hard copy can be mailed to you by requesting it online here.

FDIC Insurance. Except for the underlying investment specified below, investments in UESP are not insured by the Federal Deposit Insurance Corporation (FDIC). FDIC insurance, up to applicable limits, is provided for the FDIC-insured accounts held in trust by UESP at Sallie Mae Bank and U.S. Bank National Association (U.S. Bank) (collectively Banks). Contributions to and earnings on the FDIC-insured accounts are allocated between the Banks according to the following percentages: Sallie Mae Bank (90 percent) and U.S. Bank (10 percent). Money in the FDIC-insured accounts is insured by the FDIC on a pass-through basis to each account owner at each Bank up to the maximum amount set by federal law, which is $250,000. The amount of FDIC insurance provided to an account owner is based on the total of (1) the value of an account owner’s investment in the FDIC-insured account at each Bank plus (2) the value of other accounts held (if any) at each Bank, as determined by the Banks and by FDIC regulations.

No Other Insurance and No Guarantees. Investments in UESP are neither insured nor guaranteed by the State of Utah, UESP, the Utah State Board of Regents, the Utah Higher Education Assistance Authority, other state agencies, federal government agencies (except to the extent noted above regarding FDIC insurance), or any employees or directors of any such entities. Units in UESP have not been registered with the United States Securities and Exchange Commission or with any state securities commission.

Account Value. The value of your UESP account may vary depending on market conditions and the performance of the UESP investment option you select. It could be more or less than the amount you contribute; in short, your investment could lose value. However, subject to the application of the rules and regulations of the Banks and the FDIC to each account owner, money in the FDIC-insured accounts will retain its value, whether in the FDIC-Insured investment option or when allocated to portions of another investment option that have the FDIC-insured accounts included as an underlying investment.

Non-Utah Taxpayers and Residents. You should determine whether the state in which you or your beneficiary pay taxes or live offers a 529 plan that provides state tax or other benefits not otherwise available to you by investing in UESP. You should consider such state tax treatment and benefits, if any, before investing in UESP.