529 Gifting FAQs

  • Yes, only someone with the link to your 529 college gifting profile will be able to view it. As the account owner, you can decide who you want to share the link with. However, if someone else shares the link with others, they also will be able to access it.

  • You will receive an email notifying you that someone has contributed to the applicable 529 college savings plan account. You can also log in to view your gifting dashboard. Here, you will see a list of previous gifts to the 529 college savings plan account, who contributed, and the amount.

  • Once your page is established, you will have the opportunity to share your 529 gifting profile via Facebook, Twitter, LinkedIn, email, or you can copy the link and paste the URL wherever you choose to share it. You can even share the link on any special occasion invitation!

  • No. Your account information is not shared with any gift giver. Visitors to your 529 gifting profile will, however, be able to see any progress toward your 529 gifting goal.

  • There are no additional costs to use the Spryng tool. Standard program fees, expenses and charges as described in the Investor Handbook will apply.

  • You do not owe taxes for gifts made by third parties to the 529 college savings plan account. Large gifts may have gift or generation skipping transfer tax consequences for a person making gifts totaling more than $14,000 per year to any one individual. A person considering making gifts over this amount to the applicable account beneficiary during the course of the year should consult a tax advisor.

  • Use of the 529 college savings plan account is controlled by you, the account owner. The account is designed to be used for the beneficiary’s qualified educational expenses. To the extent you apply the amounts in the account, including any gifts made to the account, for other purposes, the earnings will be taxed as ordinary income and an additional tax may apply.

  • Among other options, you can select a new beneficiary who is a “member of the family” of the previous beneficiary, as defined under the Internal Revenue Code.