529 Withdrawal Process

To make an online withdrawal:

• Log in to your account by clicking on the Sign In/Register drop down located in the top right corner.
• After logging in, scroll down to the 529 portfolio you wish to liquidate from.
• From the drop down, choose Sell Shares.
• Choose the distribution option.
• Select a destination for the proceeds to be sent to.
• Review summary of instructions.
• Select Submit.

To make a withdrawal by phone to the account owner or to the school directly, please call Franklin Templeton at 1-866-362-1597.

Phone requests can be made for the following:

Requesting a check made payable to:

• The Account Owner and mailed to the Address of Record.
• The college or the eligible educational institution and sent directly to the school.
• The college or the eligible educational institution and mailed to the Address on Record.

Requesting an Automated Clearing House transaction made payable to:

• The Account Owner’s bank.
• The Account Owner with the Beneficiary listed as joint owner on bank registration.

To make a withdrawal by mail for proceeds to be sent directly to the school (if on file), a third party, or a new checking/savings account:

• Download and print the FT529 College Savings Plan Withdrawal Form.

• The withdrawal form can be faxed to 1-727-299-8719 or mailed to: 

  Regular Mail
  Franklin Templeton 529 College Savings Plan
  P.O. Box 33090
  St. Petersburg, FL 33733-8090

  Overnight Mail
  Franklin Templeton 529 College Savings Plan
  100 Fountain Parkway
  St. Petersburg, FL 33716-1205

Please note: The withdrawal form cannot be faxed if a signature guarantee is required.

A signature guarantee may be required if the distribution request indicates the following:

• If proceeds are over $100,000.
• If proceeds are being sent to a bank account that does not list the 529 Account Owner.
• If proceeds are being sent via federal wire.
• If a check is being sent to a third party (not required when the check is being sent to an eligible higher educational institution).

All requests must be made by the account owner. Franklin Templeton Investments does not take distribution instructions from a beneficiary.