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Multiple 529's?

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  • Multiple 529's?

    I was wondering. . .are 529's like IRA's in that you can open up multiple accounts but as long as you don't exceed a yearly maximum contribution, you are okay?

    That is, I know you can have 2 Roth IRA's and contribute $2500 to each.

    Can you do the same for 529's?

  • #2
    Scanner, the same but different

    529's have a max for me to contribute for each of my kids (max is per kid per contributor)
    My parents could open a 529 for my kids in either Ohio (where we live) or another state and also contribute max.

    If my parents contribute to the Ohio 529 I opened, it is part of same yearly max
    If my parents open a unique 529, I think it is subject to their own max

    Check me on this, the max is so high, I do not know anyone but really rich people which would even approach it.

    There is also a yearly max and lifetime max a person can put into the Ohio 529.

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    • #3
      Yes you can...

      529
      The easiest thing of all is to deceive one's self; for what a man wishes, he generally believes to be true.
      - Demosthenes

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