Utah Educational Savings Plan

Your Guide to UESP’s Year-End Deadlines

Make sure your year-end transactions count toward the 2013 tax year by meeting UESP’s year-end deadlines.

To count toward the 2013 tax year, account transactions must be received by UESP before the following deadlines. Transactions received after the deadlines count toward the 2014 tax year.

2013 Year-End Transaction Deadlines
Transaction Online Process Deadline
Must be received by UESP before 11:59 p.m. (MT)
Manual Process Deadline
Must be received by UESP before 5:00 p.m. (MT)
Contributions Tuesday, December 31, 2013 Tuesday, December 31, 2013
New Accounts Tuesday, December 31, 2013 Tuesday, December 31, 2013
Withdrawals Tuesday, December 31, 2013 Tuesday, December 31, 2013
Investment Option Change Tuesday, December 31, 2013 Tuesday, December 31, 2013
Incoming Rollovers
(funds received)
N/A Tuesday, December 31, 2013
Transfers (between accounts with the same account owner) Tuesday, December 31, 2013 Thursday, December 26, 2013
Transfers (between accounts with different account owners) N/A Thursday, December 26, 2013
Outgoing Rollovers N/A Monday, December 16, 2013

Notes:

  • The UESP office will close Tuesday, December 24, 2013, at 3:00 p.m. (MT) and remain closed Wednesday, December 25, 2013.
  • Please include the beneficiary’s name and account number on the front of a mailed check.
  • Mailed transaction requests postmarked on or before the December 31, 2013, deadline date but received by UESP in 2014 will be recorded as 2014 tax-year transactions.

How to Initiate a Transaction

Initiate year-end transactions in a way that's easiest for you.

You can initiate account transactions online at uesp.org or manually with paper forms. Transactions may not be completed over the telephone.

Online

Most common transactions may be completed online at uesp.org. Simply log in to your UESP account via Account Access at uesp.org and follow the prompts.

Manual

Initiate transactions manually by mailing, faxing, or hand delivering the appropriate paper form to UESP. You can obtain forms in two ways:

PDF Form Fill-In Fields

Several of UESP’s PDF forms allow you to type in the form’s fields before printing. This saves you from filling in those fields by hand, should you choose.

Be aware that information you type in a field is not automatically transmitted to UESP. Rather, you must print, sign, and return the form to UESP.

Download a PDF Form

  1. Go to uesp.org.
  2. Click Forms & Downloads.
  3. Click the PDF icon next to the appropriate form to start the download.
  4. Print the form.

Request a Form

Ask UESP to mail, fax, or e-mail you a form by calling UESP toll-free at 800.418.2551 or e-mailing info@uesp.org.

Complete the form and submit it to UESP in one of the following ways:

Standard Mail

UESP
PO Box 145100
Salt Lake City, UT 84114-5100

Hand/Overnight Delivery

UESP
Board of Regents Building, Gateway 2
60 South 400 West
Salt Lake City, UT 84101-1284

Toll-Free Fax

800.214.2956

UESP CAN HELP!

Please speak with a UESP representative if you are unsure which form(s) to complete.

800.418.2551

info@uesp.org

Prevent Delays by Submitting Your Signature Card

Did you open your account online? If so, you must submit the required Account Owner/Agent Signature Card (form 110) before initiating any manual transactions.

UESP uses the Signature Card to verify your signature on manual account transaction requests. (If you opened an account with a paper form, UESP already has your signature on file.) To download a Signature Card, go to uesp.org and select Forms & Downloads.

Contributions

Five-year averaging election. A special provision for 529 plans allows a person to make a gift of $70,000 ($140,000 if married filing jointly) to a beneficiary in one year without creating a taxable gift if the person (or the person and their spouse in the case of a joint election) makes an election on IRS Form 709 to treat the entire gift as a series of five equal annual gifts. The person cannot make any additional gifts to that beneficiary during the five-year period without being subject to federal gift tax rules. To qualify for the five-year election in the 2013 tax year, UESP must receive the contribution(s) by the deadlines in the 2013 Year-End Deadlines table above.

Withdrawals

Funds withdrawn online must be used for qualified higher education expenses, which include:

  • Tuition and fees
  • Books, supplies and equipment required for the enrollment or attendance of a beneficiary at an eligible educational institution
  • Room and board for students who are enrolled at least half-time

To withdraw funds for any other purpose, use a Withdrawal Request form (form 300).

Incoming Rollovers (money received)

UESP must receive incoming rollover funds—not just the required paperwork—by the deadline in the 2013 Year-End Deadlines table above for the funds to apply to the 2013 tax year. Please initiate your rollover several weeks before the end of the year to ensure UESP and the other 529 plan have adequate time to process your request.

Important

  • Initiate your transactions as early as possible to allow adequate processing time.
  • Submissions must be received in good order to process.
  • Pending transactions in your account(s) may affect the processing of additional requests.