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  • Using Your Account
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• Investment Options
  • Summary of Options
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Make a Contribution

Initial and Additional Contributions
Anyone can contribute to a Utah Educational Savings Plan (UESP) account. If non-account owners, such as grandparents or aunts and uncles, contribute to the account, only you, the account owner, can control how the assets are invested and used. Contributions can be made by

• Check: Checks should be made payable, and mailed to Utah Educational Savings Plan, PO Box 145100, Salt Lake City, UT 84114-5100. Be sure to include the UESP account number and beneficiary’s name on the check.
• Online: Online from this Web site. Click here to make an online contribution.
• Automatic Clearinghouse (ACH): Automated contributions can be set up from your checking or savings account as a one-time lump sum or as an ongoing, regularly scheduled contribution. ACH can be requested by completing and submitting the Establish or Change Automated Contribution form.
• Wire Transfer: Wire transfers must be initiated by your own financial institution. The UESP Wire Transfer Authorization form must be completed in addition to any forms that your financial institution may require.
• Payroll Deduction: Payroll deduction is available only through participating employers. Contact UESP to see if your employer is participating.  

You can also rollover money from another 529 plan.
Contributions may not be made in cash.

There is no minimum initial or additional contribution requirements, allowing you the flexibility to better control your financial goals. For additional information on how to contribute, please contact us

Rollover and Transfer Contributions 
You may also contribute to the Utah Educational Savings Plan through a rollover or transfer of assets from another state's 529 plan, another account in UESP, a Coverdell Education Savings Account, or certain qualified U.S. savings bonds issued after 1989. Because limitations might apply, you should consult your tax adviser regarding your particular situation.

Online Account Access
To view your account details online, simply establish a user name and password to be used for future access. Once you are registered, you can return to your secure, online account to view your information, quarterly statements, and account activity. Use caution and do not give your online account access information to any unauthorized individuals. To access your investment account or establish account access, click here.

Contribution Limits
For 2008, the maximum aggregate contributions in all UESP accounts for the same beneficiary is $330,000. In addition, beyond the usual $12,000 annual limit on tax-free gifts, account owners can make a special election and contribute up to $60,000 per beneficiary in a single year ($120,000 if filing jointly) without incurring federal gift tax, as long as you don’t make any additional gifts to that beneficiary over the next five years. Any assets you place in a 529 plan are immediately removed from your taxable estate, yet you stay in control.¹ You can revoke the gift at any time, subject to federal and state taxes and penalties. For more information, consult with your estate-planning adviser to learn how this decision will affect your estate.

 

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1 Contributions between $12,000 and $60,000 made in one year will be prorated over a five-year period without incurring gift taxes or reducing your unified estate and gift tax credit. The contribution must be reported on IRS Form 709, United States Gift and Generation-Skipping Transfer Tax Form. If the account owner dies before the end of the five-year period, a prorated portion of the contribution will be included in his or her taxable estate.

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© UESP 2008
The terms Utah Educational Savings Plan and UESP are registered trademarks.

Investors 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 from this Web site.

Investments are not guaranteed by UESP, the Utah State Board of Regents, the UHEAA, the FDIC, or any other state or federal government agency. Your investment may lose value.

Investors who are not Utah taxpayers should determine whether the state in which they or their beneficiary reside or pay taxes offers a 529 plan, and if so, whether that plan offers state tax or other benefits not available through UESP.

 

For more details about how our plan works download a copy of our Program Description.

Click here to download.
Click here to request a copy be sent to you